Last month the average sales price for all residential types of property was $1,189,542 in Toronto proper. This includes detached houses, semi-detached, attached/townhouse and condominiums. This is a massive jump over September 2020 averages of $960,613 and this can be in part explained by the rebound in condo prices as well as the continued feverish […]
For those who’ve been out looking at property throughout 2021 it’s been a year of head scratching for most. Are we not still in a pandemic? Who can afford to purchase at these insanely high prices? When will prices drop, and when they do, how bad will it be? All are reasonable questions and the […]
Historically speaking, the month of May on average has been the strongest for sales activity throughout the Toronto Regional Real Estate Board. Before entry level condos became the mainstream option for first time buyers to afford a place to own on their own, we had a real estate market that was truly quite seasonal in nature. […]
I’ve lost the official count on how long we’ve been under some phase or colour code of lockdown, but I do know this; it’s been a very long time!What will the effect of the reopening have on real estate? Well, of course it’s too early to tell, but in the short term, it will be […]
Who else misses the spring Home Show? This past weekend I had a few hours to pass and to take advantage of the really nice weather we were having in Toronto, I decided to step out onto my balcony and give my windows a good cleaning. This twice a year routine is made easier by […]
What did you just say Mike!? That’s right, my headline is correct. It’s time to end the process of blind bidding when a property is listed for sale and there is a set date for an offer(s) presentation. Way back in the mid 1990’s when I started out in real estate, the sometime-used marketing tactic […]
To no surprise, March 2021 Toronto Regional Real Estate Board number of sales and average home prices continue on it’s meteoric rise. What is surprising (to me at least!) is that March 2021 was the single most active month EVER for number of property sold across the GTA. A whopping 15,652 properties changed hands last […]
There is so much information floating around about housing bubbles in places like Toronto, you can’t blame buyers or sellers on what and who to believe? Last year CMHC (Canada Mortgage and Housing) predicted house prices would drop anywhere between 9%-18%, before picking back up in 2021. A few short months ago, the Bank of […]
Once upon a time in a not so distant past, the real estate housing market in Toronto (and the GTA) followed a seasonal path in activity. Buyers would start their home purchasing search in the spring, as the winter remnants melted away and the return of the sun made all things pretty again. Along came […]
The year end numbers are in and 2020 will go down as I had noted previously, as the third best year ever for sales volume and house prices through the GTA. The higher demand for low rise housing (detached, semi-detached, attached/townhome) widened the price gap between high rise (condos apartments) and this was especially felt […]