Market Updates
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

By: Anuja Kumarasamy

FEBRUARY 2022 MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, FEBRUARY

The GTA real estate market had its second-best ever January of sales with 5,636 sales reported through the Toronto Real Estate Board MLS system. The lack of new properties for sale pushed up the average January price to $1,242,793, but don’t panic or celebrate, it’s just the statistics for 1 month. I do expect prices will increase this year between 10-15 %, as demand is strong and supp...Read More

By: Anuja Kumarasamy

January 2022 Market Update

Tags: Market Update, Real Estate, January

The Toronto real estate market set several records in 2021; 121,712 homes sold, the highest average selling price of $1,095,475, the most Realtors ever (almost 63,000), and the least number of homes listed on the market (3,232). As I predicted, 416 condominium prices rebounded in 2021 with a 16.8% price increase to an average of $730,792, an affordable number for many seeking to live in Toronto. T...Read More

By: Anuja Kumarasamy

DECEMBER 2021 MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, DECEMBER

With 9,017 sales reported, November 2021 became not only the most active November in the history of the Toronto Real Estate Board but also set a record for the highest average price, $1,163,323, up 21.7% over November 2021. The average sale price year to date as of the end of November is $1,092,212, up 17.5 % since the start of the year. As Real Estate Expert has been predicting, the 416 area cod...Read More

By: Anuja Kumarasamy

NOVEMBER 2021 MARKET UPDATE

Tags: MARKET UPDATE, REAL ESTATE, NOVEMBER

Despite a record low inventory of homes available for sale in Toronto, the level of sales reached the second-highest level on record for the month of October. 9,783 homes sold in October, surprising many, not that the demand was so high, but that the demand was met to so great a degree. With the listing inventory remaining so low, prices had nowhere to go but up. Since the start of the year prices...Read More

By: Anuja Kumarasamy

OCTOBER 2021 MARKET UPDATE

Tags: Market Update, Toronto, GTA

September marked the transition from the slower summer market to the busier fall market in the in the Greater Toronto Area. Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. September’s 9,046 sales were increased relative to August and was also the third most active month on record for the month of Septe...Read More

By: Anuja Kumarasamy

SEPTEMBER 2021 MARKET UPDATE

Tags: SEPTEMBER, MARKET UPDATE, 2021, TORONTO, GTA,

Another strong month of sales as the Toronto Real Estate Board reported the sale of 8,596 homes, at an average price of $1,070,911, up 12.6% over August 2020. The only factor that prevented more sales from taking place was the lack of homes for sale. Only 10,609 homes came on the market in August, 50% less than normal, and of course, without inventory, sales cannot take place. I believe the reaso...Read More

By: Anuja Kumarasamy

AUGUST 2021 MARKET UPDATE

Tags: AUGUST, MARKET UPDATE, 2021, TORONTO, GTA,

Another busy month of sales as the Toronto Real Estate Board reported the sale of 9,390 homes in July, one of the busiest Julys on record. Multiple offers continued to be the norm for well-priced properties as the shortage of homes available for sale has not eased. With only 12,551 new properties coming on the market in July, it remains a Seller’s market as there is less than 11/2 months of ...Read More