Toronto Market Report - July 2021
Posted on Jul 19, 2021 in Market Report
SALES COMMENTARY
June marked the third month in a row of declining sales. The all-time peak in sales was March on the Toronto Regional Real Estate Board. That is not a bad thing and at over 11,000 sales it was the third-best June sales month. We can also forecast that 2021 will be the biggest sales year ever, at 117,000 units. Compare that to previo...Toronto Market Report - May 2021
Posted on May 14, 2021 in Market Report
SALES COMMENTARY
Sales in April on the Toronto Regional Real Estate Board (TRREB) were 13,663 units. That was a decrease of 12.7% from March. Some have suggested that this signifies the start of a market downturn. That is a little premature. April was the second largest sales month ever on the Board. Rather, we are entering a more normal market but...Toronto Market Report - March/April 2021
Posted on Apr 20, 2021 in Market Report
SALES COMMENTARY
What can you say about sales on the Toronto Regional Real Estate Board for March? At 15,652 sales, this is a single month record. You can see the six biggest sales months on TRREB in the past six years in Table 1 below.So, what happens next? We have already seen a slowing in the first ten days in April. Instead of 40 Showings on a l...
Toronto Market Report - February/March 2021
Posted on Mar 10, 2021 in Market Report
SALES COMMENTARY
Record home sales continued in February with sales 52% higher than in 2020. The 10,970 sales are equal to the peak of a normal spring market. February also recorded 15,137 ‘new’ listings, but by month-end there were only 8,727 ‘active’ listings – under a one-month supply.The condo market also joined the party. Condo sales this Febru...
Toronto Market Report - January/February 2021
Posted on Mar 01, 2021 in Market Report
SALES COMMENTARY
The year started off much like 2020 ended: with sales and prices rising to record levels. Even condos and in particular Downtown condos, joined the market upswing. January sales at 6,900 units were 52% higher than last January. Average prices were up by 15% over January of last year too! So, let us address why real estate has been so...
2021 Toronto Real Estate Market Forecast
Posted on Jan 13, 2021 in Market Report
2020 YEAR IN REVIEW
The impact of COVID-19 : It created a tale of two markets – low rise versus condos. Low rise prices increased 15% and condo prices were down 10%. It moved the Spring market from April to July. Sales on TRREB at 93,000 units matched the seven -year average.
The printing of money and low interest rates : People wanted to spend. Trav...