The media likes to sell sob-stories to survive. The TREB market report was released this week and the news release in the media was all doom and gloom. Well not so in the City of Toronto. The average selling price at the end of January was $766,616, up 5.5 percent from a year ago which was $727, 928. The number of new listings came in at 2,776 for the end of January slightly lower than a year ago at ....
Read moreMARKET UPDATE FOR THE WEEK ENDING JANUARY 19TH, 2018
The Toronto real estate market has had a sluggish start with slim listings and hesitant buyers. Generally speaking January is a slow month for new listings, but the demand is high and now that most of the snow has melted it is time to start seeing "For sale "signs popping up. Sales have dipped 6 percent in the first half of January in the GTA area compared to the same period last year. It seems the overall market is affected because of the 12 percent drop in condo sales so far in January compared to the same time last year.
In the freehold sector listings continue to be a source of concern. A year ago there were 251 new listings compared to just 209 this year. The good news is there were more sales posted this week up by almost 34 percent compared to the previous week. As we continue, the hope is more Sellers will come to market soon and not wait until March. The demand is strong thanks to a robust economy. The condo sector has seen more listings come to market. Last week we had .....
Read moreMARKET UPDATE FOR THE WEEK ENDING MAY 26TH, 2017
This week we had to order three extra bottles of water for the water cooler as it seemed everyone was spending an inordinate amount of time chatting about what to do next in real estate. We watched as the listings went down before the long weekend and as expected that resulted in lower sales last week. And as is typical after a long weekend the numbers of new listings jumped substantially thereafter. The trend we have been watching carefully is the number of sales that are occurring above their listed price. In both the condo and
Read moreMARKET UPDATE FOR THE WEEK ENDING APRIL 14Th, 2017
Last week the real estate industry took a slight pause while several major religions celebrated their holiest of days all in the same week. In real estate the coming of spring normally heralds the beginning of the annual game of trying to show houses while the city, in an apparently random manner, shuts down streets and neighbourhoods for prolonged construction projects – BEEEEEEEEEEEEEEEEEEEEEP – We interrupt this regularly scheduled Bosley Insight for breaking news from the Provincial Government.
Read moreMARKET UPDATE FOR THE WEEK ENDING MARCH 31ST, 2017
The old adage says that if March comes in like a lion it leaves like a lamb. If we consider the real estate market in the same vein, since March started with a roar we should have had a nice quiet end to the month. Alas, the real estate market respects no old wives tales as it wends its way through the spring. The last week of March capped off a month that saw prices jump an average 33% over March 2016.
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