Finally the weather man has predicted a weekend of no rain. Can you believe it's been 6 weeks since we last had no rain on either Saturday or Sunday. In fact the only thing I'm more tired of is reading and listening to what the media has to say about the housing market in Toronto. There wasn't a week that went by that some so called expert didn't write their views about the market. For sure market conditions have changed and we are all adjusting, so why don't they give it a rest.Read More
Dear Vancouver, we are wondering if what is going on with our market is the same thing you went through last year? You see, our listings continue to go up and sales have dropped off substantially. Yet the Toronto Real Estate Board just released the mid-May statistics and shared that in the first two weeks of May prices have gone up over 17% compared to the same time-frame last year. And you might want to sit down for this next stat, because the leader of the pack was none other than condominium apartments which increased over 28% in value over the same period last May.Read More
The sky is not falling. The pigs are not yet flying. And we are pretty sure that the price of real estate in Toronto is going to keep climbing, though perhaps not as quickly as it was already this year. But really, maybe it will. After the announcement of the Government of Ontario’s ‘Fair Housing Plan’ our in-house experts pored over the information looking for whatever information might lead us to think the suggested changes would improve housing affordability in the GTA. We quickly dismissed point 15 thinking that while working elevators are fairly essential in a condo building, their lack of movement up or down was probably not having a huge effect on affordability in the market.
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.Read More