Our Real Estate Update November 2023
Posted on Dec 05, 2023
On November 21st, the Government of Canada unveiled its 2023 Fall Economic Statement, an annual fiscal report that provides an update on the state of the Canadian economy and the government’s plans for future spending. The report – acutely focused on Canada’s housing affordability and supply crisis – announced new funding for the creation of more a...
Our Real Estate Update October 2023
Posted on Nov 07, 2023
Our Real Estate Update September 2023
Posted on Oct 06, 2023
The real estate landscape in the GTA has seen a complex interplay of factors as buyers navigated the challenging environment of rising interest rates over the past 18 months. Buyers and homeowners are now faced with the question of how long these elevated rates will persist. The rise in long-term bond yields, indicating the belief that interest rat...
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...
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...
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...