Prices and Sales Continue to Surge Upward While Inventory Continues to Fall

Prices_April_2016

Sales of homes in the Greater Toronto area set a new all-time record for the month of April, up 7% over last April, which was itself an all-time record. Prices were also up very sharply, and were 16% higher than last April. This increase is even more startling than it seems, as it includes condominium… Read More

March Prices Pause, But Sales Explode And Inventory Plummets

Prices_March_2016

For many years we have had a sort of ‘bimodal’ spring market in Toronto. During the ‘early’ spring market, from mid January until early March,  buyers return to the market after the Christmas/New Years break more quickly than sellers, who often want to wait until leaves & flowers return, or at least until the snow… Read More

Toronto Market Kicks Into An Even Higher Gear

Prices_Feb_2016

Hard to believe, but the February market in Toronto was even hotter than in January. Sales were up 21% over last February so, even though there were more new listings than last year, the inventory of homes for sale dropped like a stone, to less than 1 1/2 months’ supply, which is very extreme seller’s… Read More

Toronto Market Rockets Out of the Gate in 2016

Prices January 2016

The Toronto real estate market was very strong all through 2015, with prices up 10% and sales up by 9% over 2014. Most analysts foresaw some moderation in 2016; after all, prices have been rising much more quickly than incomes, and affordability is therefore getting strained. And the Canadian economy appears to be following Alberta… Read More

2015- Oh, What a Wonderful Year in Real Estate!

Prices_Dec_2015

Last year ended on a very strong note, with prices 10% higher than last December, and with the inventory of unsold homes remaining at an ultra-low level, under 2 months’ supply. There were just under 5,000 sales in December, the second best year on record. For the year as a whole, prices were 10% higher… Read More

The Weather Is Cooling – But The Market Is Not

Prices_Nov_2015

A total of 7,385 homes were sold in the Greater Toronto area last month, 14% higher than last year and an all-time record for the month of November. With one month still to go, we have already set a new calendar year record for home sales, topping the previous record set in 2007. If you… Read More

Toronto Fall Market on Cruise Control

Prices_Oct_2015

It’s interesting: the Toronto market has been so amazingly consistent and predictable over the past several years, these monthly updates almost write themselves. Once again, the price and inventory trends for October have closely matched the pattern in 2013 and 2014, just shifted upward. If you wanted to nit-pick, you could say that the average… Read More

Toronto Market Back in the Fast Lane

Prices_Sept_2015

After a somewhat sleepy (though completely normal) summer, the fall market exploded in September. Prices were up by over 9% as compared with last September, continuing the 10%+/- year-over-year price increase that we have seen virtually every month this year. Volume was also up versus last year, with a record (for September) 8200 sales reported…. Read More

Canada’s Real Estate Party Isn’t Over Yet

A flurry of new economic forecasts say that despite the impact of falling oil prices and fear of condo overbuilding, Canada’s real estate markets will remain stable in most regions through 2016, and will experience a “soft landing” in Vancouver and Toronto once interest rates begin to rise. “The risk of a market crash is… Read More

Summer is Ending – Will the Market Heat Up as Temperatures Fall?

Prices_August_2015

The Toronto market was nothing if not predictable in the month of August. Prices fell slightly from July (as they do virtually every year) but were about 10% higher than last August, continuing the trend that we have seen all year. The inventory of homes for sale also continued the year-long trend: higher than July… Read More