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 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 Market Explodes Out of the Gate in 2017

Prices_Jan_2017

The Toronto market is typically very quiet, almost sleepy, in the month of January. Not so this year. 2016 was exceptionally strong, with sales over the full year up 12% over 2015 and prices up more than 17%. This January, however, prices were up by a jaw-dropping 22% over the same month last year, and… Read More

Top Tips To Pay Down Your Mortgage Faster

With interest rates at an all-time low, many Canadians are taking advantage of the savings by refinancing their mortgages to consolidate debt, make home renovations, invest in real estate or other ventures, or moving up the property ladder. Here are some great ideas from Kerri Nelligan, a Home Financing Advisor at ScotiaBank, to take even… Read More

Toronto Real Estate Board Predicts Strong 2017 Market

TREB Logo

On January 31, 2016, the Toronto Real Estate Board published a report reviewing the  2016 Toronto area real estate market and forecasting the outlook for 2017. Highlights of the report include: There were 113,133 residential freehold and condo properties sold in the GTA in 2016. This was an all-time record, and it was 11.8% higher… Read More

Prices and Sales Fall in December — But Are Still Much Higher Than Last Year

prices-dec-2016

Toronto Prices in December were 6% lower than in November, and sales were 38% lower, but the market remained much stronger than last year. Our market follows a predictable seasonal pattern, with prices & sales at their lowest ebb in July/August and again in December/January. So the drop in sales and prices in December was… Read More

Untangling the New Mortgage Rules

The Federal Government has made two recent changes to the eligibility rules for government-backed insured mortgages: Effective October 17, all borrowers seeking high ratio (less than 20% down payment) mortgages must qualify based upon the Bank of Canada’s five year fixed posted rate (also known as the ‘Mortgage Qualification Rate’ or MQR). Presently the MQR… Read More

No Sign of Cooling in Toronto Market

prices_october_2016

Toronto area prices and sales once again registered all time highs in October. The average selling price across all areas and all property types was 21% higher than last October, the biggest year-over-year increase so far in 2016. Sales were also up strongly, more than 8% higher than last year. So far we have seen… Read More

Toronto Market Continues to Accelerate

prices_sept_2016

After a comparatively strong summer season, it wasn’t surprising to see sales and prices spike upward in September. After all, that’s part of the normal seasonal pattern. What was surprising was the size of the spike. The average price for all property types in the Greater Toronto Area was more than 20% higher than in… Read More

Will New Mortgage Rules Slow The Toronto Market?

As of October 17, new mortgage qualification rules will come into effect. These new rules will make it more difficult for many homebuyers to qualify for a mortgage by requiring all insured mortgages to be underwritten based on the Bank of Canada’s Mortgage Qualifying Rate (MQR). The MQR was introduced in 2010 in response to… Read More