REAL ESTATE BLOG

Dear Friend,   9,989 listings sold through TREB's MLS® System in May 2019, a substantial increase of 18.9 % over May 2018. Prices also increased bringing the year to date average price to $805,098, up 3.6 % since the start of the year. The year-over-year increase in sales activity reflects polling results that indicated that more home buyers in the Greater Toronto Area were likely to purchase in 2019 vs last year. Home ownership demand remains strong in the GTA....

Dear Friend,   As the comedian said, “There’s good news and there’s bad news”. the good news There was a huge year over year jump in home sales in April, up 16.8 % to 9,042 compared to 7,744 in April 2018, with a significant 1.9 %  price increase.  Price growth continued to be driven by the condominium apartment segment which is up 5% since the start of the year, followed by semi-detached homes up 2.1%. Despite the 2% mortgage stress test,...

Dear Friend, Toronto Real Estate Board members reported 7,187 residential sales through TREB’s MLS System in March 2019, almost the same amount as the 7,188 sales reported in March 2018. While the number of sales remain the same, the number of new listings, homes available for sale, was down by 5.1 % year-over-year. This lack of inventory has created a shortage of homes available for sale, resulting in multiple offers and a price increase of an average of 5%...

Dear Friend, No real surprises in the market, approximately the same number of sales as last February, 5,025, with approximately the same number of listings, 13,284, which is less than 3 listings for every sale, making it an overall “sellers” market as buyers have few choices when purchasing a home. While this is an average number, the reality is that homes over $1,000,000 are experiencing a balanced or even a buyer’s market depending on location. A balanced market is...

Dear Friend, Despite the harsh January weather, Toronto Realtors sold 4009 homes through the Toronto Real Estate Board MLS system, slightly more than the same period last year. This bodes well for a very active market in 2019. While the average selling price was up by 1.7 % on a year-over-year basis, it really does not represent what is happening in the marketplace, as not all housing sectors are experiencing the same effects. Condominium apartments continue to lead the way in terms of...

Dear Friend, Experts predicted that October 2018 would have fewer sales and more homes available for sale than October 2017. It came as a surprise when the opposite occurred!  The 7,492 homes sold by Toronto Real estate Board members was 6% more than October 2017, and prices increased by 3.5% year over year. 14,431 homes were listed on the MLS system, down 2.7 % compared to October 2017. The fact that sales were up and new listings were down suggests that market conditions have become...

Dear Friend, 6,455 homes sold through Toronto’s Real Estate Board MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 also increased by 2.9 per cent over the same period to $796,786. The Toronto market continues to be very fragmented in terms of supply and demand with some areas experiencing a Sellers’ market with more demand than supply and other areas experiencing either a Balanced or...

Dear Friend, Another good month for sales in Toronto, as Toronto Real Estate Board members sold 6,8379 homes, 8.5% more than last August with the average price also being up 4.7% over the same month last year. With only 21/2 months of homes in inventory in Toronto, by definition, it would appear to be a sellers’ market. It is in many areas, with well-priced homes selling quickly. In other areas, with inventory being at 5-7 months, it’s a buyers’ market. Today with...

Dear Friend, Ontario might be suffering from a shortage of rain, but there was certainly no drought of buyers when it came to home sales in Toronto. July saw almost 7,000 transactions, up 18% over last July and prices rose 4.6% July 2018 over July 2017 and the average price now stands at $788,822. At Realtron, our sales were up 19% and we sold 941 homes from our inventory of 1543. You are probably wondering where the discrepancy is. Some real estate agents believe the market is...

Dear Friend, The Toronto Real Estate Board reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4% over the June 2017 result. The average selling price in June edged up by 2% on a year-over-year basis to $807,871. While this is an interesting statistic, it does not reflect the reality of the market. The average price reflects the price of homes that have been selling. Because of the tightening of the mortgage rules those homes have generally been under...