A Tale Of Two Markets

Selling prices for detached homes in the GTA continued their meteoric rise in October. Detached prices have gone up for the last 6 months in a row and are now 22% higher than the “COVID low” in April, as well as 15% above last October. The average price for a detached home in the Toronto… Read More

Toronto House And Condo Markets Continue To Diverge

Prices for detached homes continued their steeply rising trend in September. Since the COVID-induced bottom in the spring, house prices have increased in each of the past 5 months and are now up 20% from April and up 13% since last September. While the rate of increase is leveling off somewhat, there are no indications… Read More

Toronto House Prices Defying Gravity

Another month, another gain in Toronto area house prices. Ever since the disruption in April due to the COVID-19 lockdowns, the market for houses has been on a tear, with prices for detached homes increasing every month and now almost 20% above the April low. The ‘delayed spring market’ meme is starting to wear a… Read More

Toronto Prices Surge Higher

Detached home prices averaged just over $1.15 million in July, and are closing in on the all-time high of just over $1.2 million reached during the 2017 bubble.  For the first time in many years, we have not seen the typical summer slowdown, as buyers continue to take advantage of once-in-a-lifetime low mortgage interest rates…. Read More

Toronto Market Continues To Heat Up

In the past, the typical pattern was for the real estate market to slow down as the July 1 holiday approached, with both buyers and sellers making plans to enjoy our relatively short summer season. Not this year — COVID-19 has thrown a large monkey wrench into the normal seasonal pattern. After the sharp lockdown-induced… Read More

Toronto Market Bounces Back in May

After being so rudely interrupted by the COVID-19 lockdown in late March, and suffering through a dismal April, the Toronto area real estate market has come roaring back May. Prices increased dramatically across all property types, the first time since 2016 (and briefly early this year) that freehold and condo properties have increased in lock-step…. Read More

No Nosedive Ahead for Canadian Real Estate Prices: RE/MAX

Canadian real estate kicked off 2020 with a bang, but there are conflicting opinions as to how we’ll finish out the year. Canada’s federal housing agency has warned that average house prices could fall by up to 18 per cent over the next 12 months – a dismal prediction that’s being challenged by RE/MAX based on market… Read More

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

Canadian Government Supporting Mortgage Market

Soon after the COVID-19 lock-downs began last month, signs started to appear that the mortgage market was headed for a credit freeze, where mortgage lenders would be unable or unwilling to keep lending to homebuyers. A credit freeze would likely crash the real estate market – if mortgage lending isn’t possible, home sales would collapse… Read More

COVID-19 Thins Out Toronto Market

Oh what a difference a month has made. Overall, results for the month of March were very good, though not quite as strong as February. Total sales were up by 10% and, while active listings were up by 20%, the overall inventory of homes for sale was only slightly higher than in February and still… Read More