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 More
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 More
Happy New Year ...... So the year begins. Let's sum up the market for 2017.
• GTA realtors reported 92,394 sales through Treb's MLS- down 18.3 percent compared to (113,133) the record set in 2016
• Record sales in Ql were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan was announced.
• The average selling price for 2017 was $822,681- up 12.7 percent compared to 2016.
• The "stress" test was introduced in October causing a rushRead More
HO HO HO here come the holidays! Santa Clause is coming to town. The annual parade comes to town on Sunday and has been a staple in Toronto for 113 years keeping the tradition alive. Does that mean we are winding down and getting ready for Christmas? It doesn’t seem that way with a swell of new listings hitting the market in the early part of November compared with this time last year. Could this be a sign that sellers are hustling to list before the new “stress test” rules surrounding mortgages come into effect on January 1st.
Last week the freehold market saw 222 new listings in the central core hit the market up 35% from the week before with the east end doubling their new listings from 38 toRead More
The Toronto Real Estate Board released the market stats for October and its good news once again! We saw a dramatic increase in sales (7,118) between September and October of almost 12 per cent pointing to stronger fall market conditions. The average selling price for the GTA for October was $780,000 up by 2.3 per cent compared ......Read More