Toronto Market Report - February 2023
Posted on Feb 28, 2023 in Market Report
Sales Summary
Sales on TRREB for January were 3100 units. Almost identical to December’s numbers. Have we reached the bottom of the sales cycle which started in April and trended straight down. Our answer is yes. Sales can’t get any lower based on our population, but the real question is how high will the peak be for the Spring market? Historically...2023 Toronto Real Estate Forecast
Posted on Jan 05, 2023 in Market Report
Understanding What Happened in 2022
The real estate market in 2021 and up to March of 2022 was clearly unsustainable. The Bank of Canada was late to correct inflation and to deal with interest rates which were basically zero. Starting in March, they began to overcompensate in both areas and the result was the start of a market correction that no one...Toronto Market Report - November 2022
Posted on Nov 30, 2022 in Market Report
Sales Commentary
Sales for October on TRREB matched those of September and August. When you consider the normal seasonality of the market, our guess is that we have reached the bottom of the sales cycle. This represents a 49% drop in sales compared to the same month in 2021.Prices are a different matter. All property types have given back all the ga...
Toronto Market Report - October 2022
Posted on Oct 31, 2022 in Market Report
Sales Commentary
Last month in our Toronto Condo Market Update, we commented on the uptick in sales for August on TRREB. We wondered whether this was a turning point. The answer was no. Sales in September were 5038 which was a drop of 10% from August. We are now tracking for the lowest sales numbers since 2002 when the GTA was 30% lower by populatio...Toronto Market Report - September 2022
Posted on Sep 19, 2022 in Market Report
Sales Commentary
We are fast coming to a reckoning with this market. The uptick in sales in August on TRREB may be a sign of reaching the bottom of this market, or is it just a ‘dead cat bounce’? While sales in August were still off by 34% from those of a year ago, they were 15% higher than in July. Normally July sales are always bigger than those i...Toronto Market Report - August 2022
Posted on Aug 18, 2022 in Market Report