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

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

Strong December Bodes Well For Toronto Homes In 2020

The breakout trend for Toronto area freehold properties continued in December. Prices were a stunning 11% higher than last December and sales were 25% higher. Even more surprising, prices in December were actually higher than in November, which almost never happens. Despite the relative weakness in the first 8 months of 2019, total year sales… Read More

Hot Fall Market Continues

Condominium apartments once again led the way in October, with prices at yet another all-time high, up 10% over last October and 4% higher than last month.   Prices for freehold properties were flat versus last month, but still well above last year – the breakout that started last month seems to be holding. Freehold… Read More