Toronto Area Prices and Sales Plunge in April

The COVID-19 restrictions that were imposed in late March have caused both sales and prices to fall steeply in April. Sales for all property types fell by approximately 2/3 as compared with last April, while listings of properties for sale were about the same, so the inventory increased by almost a factor of three, from… Read More

Coronavirus Infects Toronto Rental Market

We have only limited data so far, but already it is clear that the number of MLS rental transactions in the GTA has plummeted by about 50% since the COVID-19 restrictions were imposed just over a month ago. There were approximately 2,500 MLS rental transactions per month in January, February and March, but only about 1,300… Read More

2017 Redux Continues in Toronto

Prices for both condominium and freehold properties continued upward in February, following the trail blazed in early 2017. The market for condominium apartments, in particular, is on fire, with prices 22% higher than last February and 8% higher than the most recent all-time high reached last November. Prices for freehold properties (mostly detached homes) also… Read More

Just Sold – Renovated Etobicoke Townhome

Click here for photos and more details Welcome to 102 Resurrection Road, a two bedroom + den townhome in an ideal location close to subway & GO stations, Islington Village shops & restaurants, great schools, parks, and with easy access to major highways, airport and downtown. This tastefully renovated three level townhome has an open… Read More

Toronto Market Continues to Accelerate

It’s beginning to look a lot like 2017. Three years ago we had an insane spring market, with house prices rocketing upward by 20% and then crashing back down to where they started. The entire process only took about five months from beginning to end. The bubble was driven primarily by extremely low inventory of… Read More

GTA Market for Rental Properties Growing Stronger

A recent report conducted by Ryerson University’s Centre for Urban Research and Land Development found that Toronto is the fastest-growing city in Canada and the U.S. by a huge margin. Immigrants are being attracted in droves by employment opportunities – for example, in the first half of 2019 alone, 81,600 new jobs were added and, on a… Read More

First-Time Home Buyer Incentive – Will It Help?

The federal budget included a proposed measure that would see the federal government take on part of the costs of buying a home. The basic elements of the plan are: It will be available only to first-time homebuyers; It will be administered by CMHC and will only be available for CMHC-insured mortgages; Buyers must have… Read More

New Condo Buyers: Beware of HST and Capital Gains Tax

When a new condo is purchased,  HST of 13% must be paid, as only resale real estate is exempt from HST. In most cases, the builder includes the HST in the purchase price, so the buyer doesn’t have to come up with a huge cash payment to CRA in addition to their down payment. In… Read More

Buying Your First Condo

Condo Buildings

With more than 500,000 condominium units in Canada and one in four new homes built as condominiums, Canadian buyers need basic condominium buying skills to protect them in any market. Too often, condominium buyers fall prey to the “do nothing, just play” sales pitches inherent in lifestyle campaigns presented by condominium developers. Although “condo living”… Read More

What Buyers Want In a Condominium

What Buyers Are Looking For in a Condo

In Toronto, there are more condos being built than in any other city in North America. Across Canada, condos projects at all price ranges are grabbing home buyers’ attention and down payments. What buyers want in a condo depends partly on where they live, but there are some common themes. A recent survey by TD… Read More