We are experiencing a buyer-friendly market in terms of prices and the number of listings in Toronto right now, especially in the downtown Toronto condo sector. In Mississauga, there's also a choice, to say the least. We anticipate that sales may remain steady throughout the winter, with a listings-to-sales ratio ranging from 30-40%. Sellers can expect their properties to be on the market for around 30 days. If the Bank of Canada lowers interest rates in 2024, activity will likely... [read more]

Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021. “We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of... [read more]

Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month. “The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last... [read more]

Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022. The average selling price remained virtually unchanged over the same period. On a seasonally adjusted monthly basis, sales and average price edged lower.   “Looking forward, we know there will be solid demand for housing – both ownership and rental – in the... [read more]

As of today, more and more real estate investors are leaving the Toronto market due to the rise in interest rates, leading to an increase in the number of new listings. Investors who purchased real estate between 2020 and 2022 at low variable interest rates are now selling it due to tripled increases in mortgage payments. Even those who bought real estate at a fixed rate and are extending their mortgage are considering the possibility of exiting the market. It is expected that this trend will... [read more]