Toronto Market Continues to Normalize

For the third month in a row, average selling prices have increased in the Greater Toronto area. While prices are still significantly lower than this time last year, they are very much in line with the historical trend that existed before the aberrational late 2016/early 2017 bubble came and went.   For example, year-to-date average… Read More

Leaner Toronto Market Remains Strong

Media reports continue to focus on how this year’s market conditions compare to the same time last year, and therefore continue to misconstrue what is really going on. Last month total sales (number of homes sold) were 40% lower than the same month last year, and the average selling price was 14% lower. Year-to-date results… Read More

Toronto Market Reheating

Recent media reports have seized upon the February data for prices and sales to suggest that the Toronto market may be in decline. Indeed, prices and sales in February were both lower than the same time last year, however, I would contend that this conclusion is an extreme example of recency bias. What do I… Read More

Toronto Market: Steady As She Goes

Following multiple disturbances overt the past year, including the ‘Fair Housing Plan’; tighter mortgage lending rules; and recent mortgage rate increases, the Toronto market has remained remarkably steady since last summer. Following the inflation and deflation of a price bubble through late 2016 and early 2017, prices have evened out and appear to be returning… Read More

Toronto Market Remains Steady

Well, that was quite a roller-coaster ride we’ve been on for the past 24 months! For many years, going back to the early 2000’s, Toronto area prices increased at a steady pace, averaging around 6% per year and always under 10% per year. Then, beginning in early 2016, prices began moving up much more quickly…. Read More

Buying Frenzy Ahead Of New Mortgage Rules

The divergent pattern between freehold and condominium properties that began in the spring has persisted since then and seems likely to continue into next year. Accordingly, I will continue to report price trends separately for these two categories, as they tell two completely different stories about the market. The freehold market (mainly detached homes) underwent… Read More

Toronto Market Remains Strong in October

The fall market continued to be very healthy in October, with sales of all property types up by 12% over September while prices remained steady. The relative strength of the condominium apartment sector relative to freehold properties continued last month: condo prices were slightly higher than in September and about 20% higher than last year,… Read More

Toronto Market Stabilizing

After an extreme roller coaster ride for the first 8 months of this year, Toronto area prices for freehold (non-condominium) properties seem to have stabilized. Prices shot up by more than 30% over 2016 in the spring, promptly gave back all of the increase over the summer months, and have exactly matched last year’s price… Read More

Toronto Market Slide Continues Into Summer Months

Prices have been falling and inventory has been rising all across the GTA since the Ontario Government announced it’s 16 point “Fair Housing Plan” in April. July prices were down very significantly from the early spring peak, lower than last spring and fall, and only about 5% higher than last July.   Driving the fall… Read More

Toronto Market Becomes A Bit Less Hot

After three months of constantly accelerating price increases, the Toronto market has finally slowed down a bit. Prices fell in May as compared with April for the first time in many years, though May prices were still 15% higher than the same month last year. The supply of homes for sale has also increased significantly,… Read More