Toronto Market Remains Steady

Prices_All Property Types Dec_2017

Well, that was quite a roller-coaster ride we’ve been on for the past 24 months! For many years, going back to the early 2000′s, Toronto area prices increased at a steady pace, averaging around 6% per year and always under 10% per year. Then, beginning in early 2016, prices began moving up much more quickly…. Read More

Buying Frenzy Ahead Of New Mortgage Rules

Prices_Freehold_Nov_2017

The divergent pattern between freehold and condominium properties that began in the spring has persisted since then and seems likely to continue into next year. Accordingly, I will continue to report price trends separately for these two categories, as they tell two completely different stories about the market. The freehold market (mainly detached homes) underwent… Read More

Toronto Market Remains Strong in October

Prices_Freehold_October_2017

The fall market continued to be very healthy in October, with sales of all property types up by 12% over September while prices remained steady. The relative strength of the condominium apartment sector relative to freehold properties continued last month: condo prices were slightly higher than in September and about 20% higher than last year,… Read More

Toronto Market Stabilizing

Prices_Freehold_Sept_2017

After an extreme roller coaster ride for the first 8 months of this year, Toronto area prices for freehold (non-condominium) properties seem to have stabilized. Prices shot up by more than 30% over 2016 in the spring, promptly gave back all of the increase over the summer months, and have exactly matched last year’s price… Read More

Toronto Market Leveling Off?

Prices_GTA_August_2017

Toronto area prices fell for the 4th month in a row, with average prices for all property types now about 3% ahead of last August. Prices for detached homes have now retraced all the way back to the 2016 level, while prices for condo apartments, surprisingly, remain more than 20% above last year. Affordability is… Read More

Toronto Market Slide Continues Into Summer Months

Prices_All_Property_Types_July_2017

Prices have been falling and inventory has been rising all across the GTA since the Ontario Government announced it’s 16 point “Fair Housing Plan” in April. July prices were down very significantly from the early spring peak, lower than last spring and fall, and only about 5% higher than last July.   Driving the fall… Read More

Toronto Market Becomes A Bit Less Hot

Prices_May_2017

After three months of constantly accelerating price increases, the Toronto market has finally slowed down a bit. Prices fell in May as compared with April for the first time in many years, though May prices were still 15% higher than the same month last year. The supply of homes for sale has also increased significantly,… Read More

Toronto Area Market Takes A Breather

Prices_April_2017

After more than two years of steadily declining inventory, the total number of active listings in the Toronto area increased significantly last month, bringing the supply of homes for sale up from 0.7 months to 1.1 months, roughly in line with last April. While this is still very deep in sellers’ market territory, the increase… Read More

The Heat Goes On In The Toronto Market

Prices_March_2017

The rapid acceleration in prices in the Toronto area market continued in March, with the average price over $900,000, up 33% over last March. Eye-popping bidding wars were everywhere, with selling prices routinely going $300,000 or more over the asking price. The Toronto condo apartment market, in particular, surged dramatically, with prices up 33% over… Read More

Toronto Market Soars Ever Higher

Prices_Feb_2017

Following an exceptionally strong January, the GTA market has accelerated even further in February, with the average selling price across all GTA areas and all types of real estate almost 28% higher than last February. The last time we had year-over-year price increases like this was in the late 1980′s, when prices rose by an… Read More