By: Jordan

Monthly Update August 2022

Tags: Monthly, Update, August

Some interesting facts about the real estate market activity in July: Number of homes for sale:  15,334 Number of homes sold:    4,912 Average number of homes available for a buyer to see:  3.12 (Seller’s Market) Average List Price to Sale price:  99% Average Days on Market:  16 Average Price Increase from 2021: 13.2% So how do we interpret this data? First of...Read More

By: Jordan

Monthly Update July 2022

Tags: Monthly Update July 2022

Despite the psychological impact of higher borrowing costs and the whispered fear of the “R” word, real estate continued to be a desired commodity with 6,474 homes sold throughout the GTA. While this number was down from last year’s record-breaking stats, it shows the strength of the market and the desire for real estate. With the YTD average price ($1,257,257) being up 15% from ...Read More

By: Jordan

Monthly Update June 2022

Tags: House Prices,

Dear Friend, No surprises as the Toronto Real Estate Board released the May sales numbers. 7,283 properties sold and GTA Realtors listed 18,679 homes for sale. The year-to-date average sale price stands at $1,274,869, up 16.4% since the end of 2021. Without a doubt, the increase in the mortgage rates has impacted some buyers at a psychological level, where they have decided to wait and see what ...Read More

By: Jordan

Monthly Update May 2022

Tags: Market Update

Hi, the interest rate increases the Bank of Canada implemented in its goal of slowing inflation, had an immediate impact on the real estate market. Yes, it become more expensive to purchase a home, yes, it eliminated some buyers from being able to qualify for financing, but the greatest impact to the real estate market was psychological. Almost overnight it created a fear of the future. What wou...Read More

By: Jordan

Monthly Update April 2022

Tags: Monthly Update April 2022

Hi, As expected, the spring market kicked off with10,955 homes sold, the third-best March and second-best first quarter on record. The average price in March was $1,299,894, bringing the year-to-date average to $1,299,591, up 18.6 % over the 2021 year-end average of $1,095,381. As I wrote in January, “Don’t panic”! Prices will continue to increase in 2022, (about 10%) but not a...Read More

By: Jordan

Monthly Update March 2022

Tags: Monthly Update March 2022

Hi, February ended with the Toronto Real Estate Board reporting the sale of 9,097 homes, the second-best February in the history of the Board. Entering February with a very low inventory of homes for sale meant that competition between buyers was strong and prices had nowhere to go but up. The average sale-price in February was$1,334,544 up from $1,242,760 in January. As I said last month, do not...Read More

By: Jordan

Monthly Update February 2022

Tags: Monthly Update February 2022

Hi,  It’s a strong, active real estate market, and the Toronto Real Estate Board’s prediction of a 10% increase in both number and sales seems to be holding up as TREB members reported 4,581 home sales in January 2020 – up by 15.4 % compared to January 2019. The average selling price in January was up by 12.3 %, driven by the detached and condominium apartment segments in t...Read More

By: Jordan

Monthly Update January 2022

Tags: Homes,Prices

Hi The Toronto real estate market set several records in 2021; 121,712 homes sold, the highest average selling price of $1,095,475, the most Realtors ever (almost 63,000), and the least number of homes listed on the market (3,232). As I predicted, 416 condominium prices rebounded in 2021 with a 16.8% price increase to an average of $730,792, an affordable number for many seeking to live in Toront...Read More

By: Jordan

Monthly Update December 2021

Tags: December 2021

The Toronto real estate market continued its positive trend, with November’s 7,090 sales being up 14.2% compared to November 2018. The increased sales, coupled with new listings being down 17% year-over-year and active listings down 27.2% year-over-year, resulted in an increase in the average selling price to $843,637, 7.1% over November 2018. On a city wide basis, sales were up year-over-ye...Read More

By: JP Homes

Monthly Update November 2021

Tags: November2021

Despite a record low inventory of homes available for sale in Toronto, the level of sales reached the second-highest level on record for the month of October. 9,783 homes sold in October, surprising many, not that the demand was so high, but that the demand was met to so great a degree. With the listing inventory remaining so low, prices had nowhere to go but up. Since the start of the year prices...Read More