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
Just as we eagerly await the new season of "The Game of Thrones" to witness "winters coming". We settled into our sales meetings this week the topic of the day was definitely what was happening to the market and if the recent government changes have had the desired effect in increasing the affordability of housing in the city. Much of our conversation centered around the differences between the massive downturn in the market in 1989 versus the brief pause in the market we experienced in 2008.Read More
As Spring comes upon us and the trees and flowers begin to bloom, we Realtors often have to remember to stop and smell the roses lest we wake up one day to find ourselves in the dog days of summer. Unfortunately, given the frenetic pace of a usual spring market many Realtors miss the awaking of spring entirely, instead focusing on helping their clients to buy or sell the home of their dreams.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.
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 More