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Our Real Estate Update August 2023

Posted on Sep 08, 2023

In August, home values in the Greater Toronto Area were essentially flat as compared to last year, with an average sales price of $1,082,496, pointing to the remarkable resilience in Toronto’s housing market. However, average prices have declined since interest rates started to rise again this past June. With the Bank of Canada’s announcement on Se...

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Our Real Estate Update July 2023

Posted on Aug 10, 2023

In July, the housing market saw a significant increase in active listings, reaching 15,371 properties listed for sale. This is the highest number of active listings in the past year and only the third month since January 2021 that active listings have exceeded 15,000. Additionally, there were 13,712 newly active listed properties in July, marking t...

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Our Real Estate Update June 2023

Posted on Jul 10, 2023

The housing market is displaying mixed signals, indicating a potential impending shift. In June, the average price of properties decreased by $13,972, resulting in a final price of $1,182,129. However, when compared to the previous year, average sale prices have still seen a significant increase of $35,875. This is the first occurrence in 2023 wher...

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Our Real Estate Update May 2023

Posted on Jun 13, 2023

In May, the housing market continued its upward trajectory, displaying an impressive rally in home prices. The average price surged by $42,832, marking the second consecutive month of substantial gains exceeding $40,000. This surge is particularly noteworthy when compared to the market bottom observed in January, where properties were selling at an...

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Our Real Estate Update April 2023

Posted on May 19, 2023

The real estate market is experiencing a surge in demand that is not being met by the limited inventory available. This has led to intense competition amongst buyers, resulting in properties selling quickly and often above the asking price. As a result, the average sale price of homes has increased across all market segments.

The average home sale p...

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Our Real Estate Update March 2023

Posted on Apr 10, 2023

Springtime has arrived for the housing market, where sales prices are trending upward once again. The interest rate environment has stabilized, and previously sidelined buyers have released their pent-up demand on the market, creating a shortage of inventory. The housing market has been able to withstand a rapidly rising interest rate environment w...

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