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

By: JP Homes

Monthly Update October 2021

Tags: October2021

September marked the transition from the slower summer market to the busier fall market in the in the Greater Toronto Area. Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. September’s 9,046 sales was an increased relative to August and was also  the third most active month on record for the month ...Read More

By: JP Homes

Monthly Update September 2021

Tags: September2021

Another strong month of sales as the Toronto Real Estate Board reported the sale of 8,596 homes, at an average price of $1,070,911, up 12.6% over August 2020. The only factor that prevented more sales from taking place was the lack of homes for sale. Only 10,609 homes came on the market in August, 50% less than normal, and of course, without inventory, sales cannot take place.  I believe the...Read More

By: JP Homes

Monthly Update August 2021

Tags: August2021

Another busy month of sales as the Toronto Real Estate Board reported the sale of 9,390 homes in July, one of the busiest Julys on record. Multiple offers continued to be the norm for well-priced properties as the shortage of homes available for sale has not eased. With only 12,551 new properties coming on the market in July, it remains a Seller’s market as there is less than 11/2 months o...Read More

By: JP Homes

Monthly Update July 2021

Tags: Monthly Update July 2021

Hi, Another great month of sales as Toronto realtors sold 11,106 homes at an average price of $1,089 536. While a lot of statistics are being bandied about such as,” Average price is up 28% over the same time as last year”, these numbers are really not relevant due to the impact of COVID-19 in 2020. The numbers that are important are the following: • The average price in the G...Read More