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...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...
Toronto Market Report - June 2023
Posted on Jun 16, 2023 in Market Report
SALES COMMENTARY
Sales for May on TRREB were 24% higher than in May of 2022. This is the first month this year that sales were higher than the same month in 2022. At 9,012 sales this will be the biggest sales month in 2023. How do we know? April, May, or June are normally the biggest sales months of the year. But in early June the Bank of Canada rai...Toronto Market Report - May 2023
Posted on May 24, 2023 in Market Report
SALES COMMENTARY
Sales reached 7,531 on TRREB for April. This number was 5.2% lower than April of 2022 but 9.3% higher than March. We will start again to compare year-over-year numbers. Why? From April of 2022 onwards, when markets corrected, real estate markets have now become comparable. For sales in May, you can be certain that 2023 will be bigge...Toronto Market Report - April 2023
Posted on Apr 30, 2023 in Market Report
Sales Summary
There were 6896 sales in March on The Toronto Regional Real Estate Board. The month-to-month increase was 45% versus just 20% in 2022. This confirmed what we said at the start of the year. Sales had bottomed out in January and the monthly market peak would exceed 7500 sales. Only 10% of respondents agreed with this forecast. Most said...Toronto Market Report - March 2023
Posted on Mar 31, 2023 in Market Report
Sales Summary
Sales on TRREB for February were 4,783. That is down 47% from February of 2022 but up 55% from January. In 2022, the January to February uptake was 61% or very similar. Month to month comparisons are more important because cyclical changes are more critical than seasonal at this time. So, when will year over year comparisons become mea...