Blog Posts

2024 Toronto Real Estate Market Forecast

Posted on Dec 14, 2023

UNDERSTANDING WHAT HAPPENED IN 2023

2023 was actually two markets in one. First when mortgage rates stabilized in January, buyers jumped back into the market and prices rose by about 2-3%. In June the Bank of Canada started increasing rates again. Uncertainty about rates and not just the level of rates caused buyers to move to the sidelines. The res...

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Toronto Market Report - November 2023

Posted on Nov 13, 2023 in Market Report

SALES COMMENTARY

The good news for October was that sales on TRREB at 4,646 matched September levels. The bad news was that October sales were the lowest for this month since 1998! So where do buyers and sellers look for some positive signs? 

First, it would appear that the Bank of Canada rates have plateaued at 5%. Everyone likes certainty. The bond...

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Toronto Market Report - October 2023

Posted on Oct 19, 2023 in Market Report

SALES SUMMARY

Sales on the Toronto Real Estate Board continued their downward trend. In September there were just 4,642 sales – 7.1% lower than last September and 12.1% lower than August. Last month we said prices (which have been supported by a lack of listings) are about to drop further. Active listings are now 40% higher than this time last year...

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Toronto Market Report - September 2023

Posted on Sep 26, 2023 in Market Report

SALES COMMENTARY

Sales on TREEB have continued to weaken. For August there were 5,294 sales. This was 5.2% lower than in August of last year and even in July. Usually, sales in August are higher than July. 

So far prices have remained steady, but we believe that is about to change. A lack of new listings kept prices from falling. But in August, new l...

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Toronto Market Report - August 2023

Posted on Aug 24, 2023 in Market Report

SALES SUMMARY

Sales for July were 5,250 on TRREB which are weak. They are 29% lower than for June (but 8% higher than July of last year). What to take away from these numbers? Not much. August sales are usually higher than sales for July. When we look at daily showings both on TRREB, and for our own Brokerages, the monthly changes from July to Augus...

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Toronto Market Report - July 2023

Posted on Jul 20, 2023 in Market Report

SALES COMMENTARY

Sales on the Toronto Regional Real Estate Board were 7481 in June. We are supposed to be excited that they were 16% higher than June of 2022. But they were also down 17% from May. In fact, June sales are lower than the previous 4 years. 

At the mid-point of the year, we are now forecasting 73,000 sales for the year. This is based on...

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