Uber-Strong Finish For 2020 Toronto Market

Well, 2020 is finally behind us, and what a roller coaster ride it was! Houses and condo apartments followed very different trajectories through 2020. House prices rose steeply in the first quarter, and then collapsed in the second quarter in the wake of COVID restrictions. Throughout the second half of the year, prices rose steadily… Read More

There’s A Chill In The Air – But NOT in the Real Estate Market!

Sales and prices for houses in the Toronto area continued their torrid pace in November. The average price for a detached home slipped very slightly from October, but was still 15% higher than last November. Sales were lower than October, which is normal for this time of year, but almost 30% above last November, and… 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 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

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

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

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