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

Thinking About Renting Your Basement?

The Toronto rental market is very strong and, if you don’t really need the living space in your basement, the idea of pulling in an extra $1,000/month or more in rent can be very appealing. Before you embark on renovations to convert your basement into an apartment, however, here are some things you should bear… Read More

Improve Your Chances of Obtaining a Home Mortgage

Securing financing to purchase a new home is one of the most important, exciting, and nerve-wracking financial steps most people will ever take. The government has tightened mortgage lending rules several times in recent years, and banks have become increasingly cautious about making mortgage commitments. Does this mean that you won’t be able to get… 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 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

How to Make Long-Term Real Estate Decisions

No longer is there an automatic last move for boomers—that is, being moved into a HOME. No longer is there a “last stage” of adult life that dictates an end to independence and to living in a home you love.  Aging in place, or staying in your own home as you age, even if you… 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