Last week's real estate market update could best be described by the simple phase "no news is good news". Across the downtown core, the east side and west side it appears that while listings are inching lower, there is plenty of appetite for buying a home, but the inventory is not there. We are witnessing the last hooray before the listing taps start to close over the winter holidays. Give it time though. In talking with our agents, we know that many buyers are waiting patiently for the spring market. In a couple of months pent up demand will return and buying a home will look like Black Friday at a big box store…

HO HO HO here comes Santa! The annual Santa Clause parade comes to town on Sunday and if that doesn’t signal the start of winter then this week’s blast of early snow sure did. Despite the early onset of snow and temperature drop there is no sign that the real estate market is slipping into hibernation yet. A shortage of listings has been the problem for most of the year but when we ask around the office if agents have buyers they are working with everyone puts their hand up. We know there are many frustrated buyers out there, but we would encourage them to all keep looking. If you are thinking of putting your buying intentions on hold you might pay the ultimate price when prices escalate in the Spring...just like they did last year…

The Toronto Real Estate Board released the market stats for the month of October and all we can say is we are UP! October continued the string of strong performances. Beginning in the spring the Toronto and GTA market have shown month per month growth in sales and sale prices. The average sale price for the City of Toronto is $925,498 up 6.4% from a year ago. The number of sales has also increased by 8.7%. Still the growing concern is the lack of inventory with active listings down almost 6% compared to last year resulting in tighter market conditions and accelerating price growth…

Now that Halloween is behind us and the time has come to turn back the clocks this weekend, it’s the world of marketing and retail sales that will keep us focused on the changing seasons. If you haven’t been to a big box store lately you may not have noticed that it is suddenly Christmas everywhere you look. Unfortunately, the real estate market does not flip seasons as easily as your local retailer and the indicators we look for are harder to spot. This fall has been a particularly quirky market. Some areas are hotter than average and setting records and some neighbourhoods feel like they are in a cool chill. We don’t know why this is happening making some of us think that the market will end early and has others thinking it will go to the last day of the year. We will keep on working and let you know how our seasonal transition fairs…

With no distractions to stand in our way for at least the next month or so we should see a return to a more customary fall market. No more holidays and disruptions just a steady pace of more listings and sales to continue. With two months left in 2019 there is still plenty of transactions on the horizon and our research shows there are plenty of buyers waiting for the perfect home…

Home sales continue to rebound as sales jump across the country. It’s the seventh straight month that home sales have grown with an upswing in activity, and record prices in Toronto and the surrounding suburbs. This has many people concerned as to the affordability which has become a major issue in the upcoming federal election with all major parties promising to improve affordability, particularly for first-time buyers. With all this uncertainty and the Thanksgiving holiday last week, it did contribute to a slowdown in both listings and sales in all neighbourhoods of Toronto. As we wade into the final days of the election, we shall soon see who will hold power. Get out and vote!

October marks a time of reflection and gratitude. This weekend for Thanksgiving we will gather around the table with loved ones and enjoy a delicious, bountiful feast and be thankful for family, good health, warm fall weather and thankful for being Realtors®. Nobody gets to explore the city like we do. As the city learns to live a high-rise lifestyle, we Realtors® can enjoy some of the city’s most stunning views and wander amongst some awe-inspiring homes in all neighbourhoods of the city. Sure, the year started off slowly with buyers being cautious and playing the wait-and-see-game, but recent stats from the Toronto Real Estate Board show all housing types are up year-over-year in the 416…

With the change in temperature and the end of that laid-back mood of summer, fall always feels like a shift in gears. Changing around your wardrobe and getting ready for those cool days and nights are almost upon us. With the fall market in full swing, the unpredictability of Toronto real estate is perplexing at times. Sales have been recovering and stronger than we expected in recent months. It seems that we are in full recovery with 6 straight months of sales increases for existing homes. Mortgage rates are dropping, and the impact of the mortgage stress test seems to have  diminished slightly. Sellers are becoming a little bit more realistic in their pricing, but listings still remain low causing fierce competition among buyers…