Toronto Market Slows Down (A Bit)

Prices_July_2016

Well, the dog days of summer are upon us once again, and the Toronto market is taking a small breather as both buyers and sellers enjoy the wonderful weather. Prices in July fell by about 5% versus the previous month, following the normal seasonal pattern; however, they remain about 16% higher than last year, which… Read More

No Sign of a Slowdown in the Toronto Area Market

Prices_June_2016

Toronto area prices in June were slightly lower than in May, consistent with the normal seasonal pattern, but 16% higher than last June. This is the largest year-over-year increase so far in 2016, and roughly double the year-over-year increases we have seen pretty consistently over the past 20 years. The super-hot GTA market continues apace…. Read More

Toronto Prices Going Exponential

Prices_1996_to_Present

Toronto area prices continued to climb steeply in May, averaging 16% above May of 2015. Prices have risen each year for the past 20 years, which might be some kind of a longevity record for a real estate boom. Prior to 1996, prices fell for 5 years following the bursting of a speculative bubble in… Read More

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