Homes Sold
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Market Updates
By: Anuja Kumarasamy

DECEMBER 2022 REAL ESTATE MARKET UPDATE

Tags: RealEstate

Toronto real estate board members sold 4,544 homes in November. In an average market, we would expect about 6,000 homes to be sold, so while we are down from that number it’s still a pretty good month given the multiple increases in borrowing rates. The number of available homes for sale remains very low at just under 12,000 which is maintaining current price levels. As of November 30th, the...Read More

By: Anuja Kumarasamy

NOVEMBER 2022 REAL ESTATE MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, NOVEMBER

Despite another rate hike from the bank of Canada, activity remained similar to last month with 4,961 sales taking place, and homes available for sale staying around the 13,000 mark. This shortage of homes kept the average price stable, similar to last month, at $1,089,428, and is 9.9% higher than the end of 2021. The Bank of Canada’s most recent messaging suggests that they are reaching th...Read More

By: Anuja Kumarasamy

OCTOBER 2022 MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, OCTOBER

  Despite higher borrowing costs, 5,038 homes sold in September, down from last year’s record levels. Sales took place in all areas with all types of homes throughout the GTA, bringing the average sale price year-to-date to $1,212,963, up 10.7% since the start of the year. It’s confusing, isn’t it? Prices are supposed to be down but yet are up? This disconnect was caused b...Read More

By: Anuja Kumarasamy

SEPTEMBER 2022 REAL ESTATE MARKET UPDATE

Tags: market update, real estate september

With 5,627 homes sold, August marked a slight increase over July in terms of the number of homes sold as well as the average sale price. The average sale price YTD is now at $1,224,216, compared to 2021’s average price of $1 095,339. What August’s data shows is that the real estate market is active with sales and purchases taking place. While listings are in short supply, buyers are e...Read More

By: Anuja Kumarasamy

AUGUST 2022 REAL ESTATE MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, AUGUST

Some interesting facts about the real estate market activity in July: Number of homes for sale: 15,334 Number of homes sold: 4,912 Average number of homes available for a buyer to see: 3.12 (Seller’s Market) Average List Price to Sale price: 108% Average Days on Market: 16 Average Price Increase from 2021: 13.2% So how do we interpret this data? First of all, there is a market. Almost...Read More

By: Anuja Kumarasamy

JULY 2022 REAL ESTATE MARKET UPDATE

Tags: market update, real estate, july

Despite the psychological impact of higher borrowing costs and the whispered fear of the “R” word, real estate continued to be a desired commodity with 6,474 homes sold throughout the GTA. While this number was down from last year’s record-breaking stats, it shows the strength of the market and the desire for real estate. With the YTD average price ($1,257,257) being up 15% from ...Read More

By: Anuja Kumarasamy

JUNE 2022 REAL ESTATE MARKET UPDATE

Tags: market update, REAL ESTATE, JUNE

No surprises as the Toronto Real Estate Board released the May sales numbers. 7,283 properties sold and GTA Realtors listed 18,679 homes for sale. The year-to-date average sale price stands at $1,274,869, up 16.4% since the end of 2021.  Without a doubt, the increase in the mortgage rates has impacted some buyers at a psychological level, where they have decided to wait and see what happens ...Read More

By: Anuja Kumarasamy

MAY 2022 REAL ESTATE MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, MAY

The interest rate increases the Bank of Canada implemented in its goal of slowing inflation, had an immediate impact on the real estate market.  Yes, it become more expensive to purchase a home, yes, it eliminated some buyers from being able to qualify for financing, but the greatest impact to the real estate market was psychological. Almost overnight it created a fear of the future. What w...Read More

By: Anuja Kumarasamy

April 2022 MARKET UPDATE

Tags: TAGS: MARKET UPDATE, REAL ESTATE, april

As expected, the spring market kicked off with 10,955 homes sold, the third-best March and second-best first quarter on record. The average price in March was $1,299,894, bringing the year-to-date average to $1,299,591, up 18.6 % over the 2021 year-end average of $1,095,381. As predicted in January, "Don't Panic"! Prices will continue to increase in 2022, (about 10%) but not at the ...Read More

By: Anuja Kumarasamy

MARCH 2022 MARKET UPDATE

Tags: Market update, Real Estate, March

February ended with the Toronto Real Estate Board reporting the sale of 9,097 homes, the second-best February in the history of the Board. Entering February with a very low inventory of homes for sale meant that competition between buyers was strong and prices had nowhere to go but up. The average sale price in February was$1,334,544 up from $1,242,760 in January. As I said last month, do not pani...Read More