Toronto Market Report - April 2024
Posted on Apr 19, 2024 in Market Report
SALES COMMENTARY
While stats seem to demonstrate that the market is experiencing renewed vibrancy, buyers and sellers have had a cautiously optimistic approach in the month of March. It’s clear that not all segments of the market are performing the same way and the politicization of real estate has been a cause for concern as it sends mixed messages...
While stats seem to demonstrate that the market is experiencing renewed vibrancy, buyers and sellers have had a cautiously optimistic approach in the month of March. It’s clear that not all segments of the market are performing the same way and the politicization of real estate has been a cause for concern as it sends mixed messages...Toronto Market Report - March 2024
Posted on Mar 13, 2024 in Market Report
SALES COMMENTARY
The mood and emotions that best describes buyers and sellers within the Toronto Real Estate market in February is…“Impatience.”In February, Toronto home sales saw a yearly increase of 17.9% and a monthly surge of 32%. Additionally, new listings rose by 37% compared to last month and by 33.5% compared to the same period last year. Af...
Toronto Market Report - February 2024
Posted on Feb 18, 2024 in Market Report
The Toronto real estate market in early 2024 has seen a significant shift in consumer sentiment, with buyers re-entering the market and multiple offers becoming more common. This sudden optimism begs the question: what factors are driving this change?Bank of Canada's Influence
In late 2023, the Bank of Canada's messaging hinted at potential rate adj...2024 Toronto Real Estate Market Forecast
Posted on Dec 14, 2023
UNDERSTANDING WHAT HAPPENED IN 2023
2023 was actually two markets in one. First when mortgage rates stabilized in January, buyers jumped back into the market and prices rose by about 2-3%. In June the Bank of Canada started increasing rates again. Uncertainty about rates and not just the level of rates caused buyers to move to the sidelines. The res...Toronto Market Report - November 2023
Posted on Nov 13, 2023 in Market Report
SALES COMMENTARY
The good news for October was that sales on TRREB at 4,646 matched September levels. The bad news was that October sales were the lowest for this month since 1998! So where do buyers and sellers look for some positive signs? First, it would appear that the Bank of Canada rates have plateaued at 5%. Everyone likes certainty. The bond...
Toronto Market Report - October 2023
Posted on Oct 19, 2023 in Market Report
SALES SUMMARY
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Sales on the Toronto Real Estate Board continued their downward trend. In September there were just 4,642 sales – 7.1% lower than last September and 12.1% lower than August. Last month we said prices (which have been supported by a lack of listings) are about to drop further. Active listings are now 40% higher than this time last year...