Is the real estate market slowing down? We are getting asked that question a lot these days. A summer slowdown is normal for the real estate market as we transition from the intensity of the spring market into the summer market, and this shift happens almost every year. Last year was different because we experienced the spring market in June and July because of the pandemic lockdown…

The average monthly rents are up in Canada. The first increase in half a year. After six straight months of declines, the average monthly rent for all Canadian properties in May grew by 2% month-over-month to $1,708 according to Rentals.ca and Bullpen Research in their latest National Rent Report. This marks the first time the average monthly rental rate experienced its first month-over-month increase since October of last year…

Toronto-area home sales showed a slight cooling in May, which is traditionally the hottest month on the real-estate calendar. But home buyers were still feeling the heat last month as the average price for all types of houses and condos hit a record of $1.11 million — 28.4 % above May 2020…

What will downtown Toronto look like when the pandemic is over? Will the core regain its former glory? Among those who could work remotely, many swapped their micro-condos for houses with big backyards in small towns…

According to a May 7, 2021, report by the Canada Mortgage & Housing Corp. (CMHC), the agency predicts home prices could rise as much as 14% during the second year of the pandemic, as low interest rates continue and fuel demand across the country. The prediction is slightly lower than the real estate industry’s own forecast for double-digit price and resale increases, but bullish compared with the previous year, when CMHC shocked the market with a dire outlook that home prices were going to plummet 18%…

Home sales in the GTA set a new record for April and more than quadrupled that from April 2020, the first full month of the pandemic. There were 13,663 sales through the MLS system for April up a staggering 362% compared to April of 2020. New listings followed a similar path with 20,825 coming to market in April, up 237% compared to April of last year when the impact of Covid was at its worst. The average selling price of $1,090,992 was up by 33% compared to April 2020…

There are early signs that the rental market may be starting a comeback. In the first quarter of 2021, average condominium apartment rents were down on a year-over-year basis, however growth in rental transactions outstripped growth in the number of units listed over the same period, suggesting that rental market conditions are starting to tighten up once again…

Toronto’s condo sales recovery began in December and is continuing to build momentum with significant volume and strong double-digit sales growth. While the condo market was slower to recover compared to the freehold sector, there has been a marked increase in condos since the beginning of 2021, and this interest will likely continue to increase as the economy improves…