GTA REALTORS Release December Stats Annual Greater Toronto Area (GTA) home sales declined in 2025 compared to 2024, as economic uncertainty weighed on consumer confidence. Over the same period, listing inventory remained elevated, allowing for selling prices to be negotiated downward, helping improve affordability. “The GTA housing market became more affordable in 2025 as selling prices and mortgage rates trended lower. Improved affordability has set the market up for recovery.... [read more]

GTA REALTORS Release November Stats Greater Toronto Area (GTA) home sales, new listings, and average selling price were down compared to a year earlier in November 2024. Intending homebuyers remained on the sidelines awaiting more positive economic news. “There are many GTA households who want to take advantage of lower borrowing costs and more favourable selling prices. What they need most is confidence in their long-term employment outlook. Fortunately, we saw encouraging news... [read more]

GTA REALTORS Release October Stats Home sales in the Greater Toronto Area (GTA) were down year-overyear in October, while new listings were up. Market conditions continued to favour homebuyers, as average selling prices were negotiated down alongside lower mortgage rates. “Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefitting from affordable housing market conditions relative to the past few years.... [read more]

Market Watch GTA REALTORS Release September Stats September home sales increased in the Greater Toronto Area (GTA) compared to a year earlier, as more homebuyers sought to take advantage of more affordable monthly mortgage payments. Buyers continued to respond to substantial choice in the marketplace by negotiating the average selling price downward. “The Bank of Canada’s September interest rate cut was welcome news for homebuyers. With lower borrowing costs, more... [read more]

GTA REALTORS Release August Stats August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments. “Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and... [read more]

GTA REALTORS Release July Stats The Greater Toronto Area (GTA) experienced the best home sales result for the month of July since 2021. Sales were also up relative to listings, suggesting a modest tightening in the market compared to last year. “Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it’s clear that a... [read more]

GTA REALTORS Release June Stats Ownership housing affordability continued to improve in June 2025. Average selling prices and borrowing costs remained lower than last year’s levels. However, despite some month-over-month momentum, many would-be homebuyers remained on the sidelines due to economic uncertainty. “The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating... [read more]

GTA REALTORS Release May Stats TORONTO, ONTARIO, June 4, 2025 – The Greater Toronto Area (GTA) housing market experienced an improvement in affordability in May 2025 relative to the same period a year earlier. With sales down and listings up, homebuyers took advantage of increased inventory and negotiating power. “Looking at the GTA as a whole, homebuyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and... [read more]

GTA REALTORS Release April Stats TORONTO, ONTARIO, May 6, 2025 April home sales followed the regular seasonal trend with an increase relative to March. However, total residential transactions in the Greater Toronto Area (GTA) were down compared to the same time last year, as potential buyers continue to wait for lower borrowing costs and for certainty about the trajectory of the economy. “Following the recent federal election, many households across the GTA are closely... [read more]

GTA REALTORS Release March Stats Homeownership in the Greater Toronto Area (GTA) became more affordable in March 2025 compared to the previous year. On average, both borrowing costs and home prices have declined over the past year, making monthly payments more manageable for households looking to buy a home. “Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring. Buyers will also benefit from increased choice, giving them... [read more]

GTA REALTORS Release February Stats TORONTO, ONTARIO, March 5, 2025 Home buyers continued to benefit from substantial choice in the Greater Toronto Area (GTA) resale market in February 2025. Home sales last month were down in comparison to the same period last year, while listing inventory remained high, providing substantial negotiating power for homebuyers. "Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for the average... [read more]

The Toronto Regional Real Estate Board’s (TRREB) Market Outlook and Year in Review report reveals that a well-supplied housing market will keep average annual home price growth at the rate inflation, with the average selling price increasing moderately in the Greater Toronto Area (GTA) over the course of the year. “A growing number of home buyers will take advantage of lower borrowing costs as we move toward the 2025 spring market, resulting in increased transactions and a... [read more]

GTA REALTORS® Release December 2024 Stats The Greater Toronto Area (GTA) housing market experienced a transitionary year in 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result. “Borrowing costs were top of mind for home buyers in 2024.... [read more]

Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefited from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year. “As we approach the end of 2024, I am pleased to report an improvement in housing market... [read more]

GTA REALTORS® Release October 2024 Stats Greater Toronto Area (GTA) home sales increased strongly year-overyear in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis. “While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved... [read more]

Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. “As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population growth. With every rate cut, a growing number of GTA households will afford a long-term investment in home... [read more]

Greater Toronto Area (GTA) home sales were down on a year-over-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023. “The Bank of Canada’s rate cut announced on September 4 will lead to a further improvement in affordability, especially for those using variable rate mortgages. First-time buyers are especially... [read more]

Greater Toronto Area (GTA) home sales in July 2024 were up compared to July 2023. While sales were up from last year, buyers continued to benefit from more choice in the GTA marketplace, with annual growth in new listings outstripping that of sales. The better-supplied market meant that buyers also benefitted from a slight relief in selling prices on average. "It was encouraging to see an uptick in July sales relative to last year. We may be starting to see a positive impact from... [read more]

June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB). Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. The market remained well-supplied, resulting in a slight dip in the average selling price compared to June 2023. “The Bank of Canada’s rate cut last month provided some initial relief for... [read more]

May home sales continued at low levels, especially in comparison to last spring’s short-lived pick-up in market activity. Home buyers are still waiting for relief on the mortgage rate front. Existing homeowners are anticipating an uptick in demand, as evidenced by a year-over-year increase in new listings. With more choice compared to a year ago, buyers benefitted from more negotiating room on prices. "Recent polling from Ipsos indicates that home buyers are waiting for clear... [read more]

April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.   Greater Toronto Area (GTA) REALTORS ®  reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS ®  System in April 2024 – down by five per cent... [read more]

March 2024 home sales reported through TRREB’s MLS ®  System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level. Greater Toronto Area (GTA) REALTORS ®  reported 6,560 sales through... [read more]

Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021. “We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada... [read more]

Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some home buyers started to benefit from lower borrowing costs associated with fixed rate mortgage products. New listings were also up year-over-year but by a lesser annual rate compared to sales. The resulting tighter market conditions when compared to the same period a year earlier, potentially points toward renewed price growth as we move into the spring market. “We had a positive start to... [read more]

As cruise lines offer multi-month, or even multi-year itineraries, some retirees are considering selling than homes and living permanently at sea  If a weeklong getaway cruise is simply not enough, Life at Sea has an itinerary for you.  The travel brand, owned by cruise line Miray International, is introducing a three-year world cruise that will cover more than 200,000 kilometres across 135 countries and all seven continents.  The epic journey, launching from... [read more]

Real estate has long been a popular form of investment, with many individuals and businesses looking to capitalize on the potential rewards of the market. Especially as we saw the property market boom in the summer of 2021, there were homeowners who decided to dip their toes into real estate investing.  Definition Of Real Estate Investor and Developer  Although they often work together, there is a difference between a real estate property investor and a property developer.... [read more]

High borrowing costs and uncertain economic conditions continued to weigh on Greater Toronto Area (GTA) home sales in November 2023. Sales were down on a year-over-year basis, while listings were up from last year’s trough in supply. With more choice in the market, selling prices remained basically flat year-over-year. “Inflation and elevated borrowing costs have taken their toll on affordability. This has been no more apparent than in the interest rate-sensitive housing market.... [read more]

Taxes are part of every financial transaction. While many investors have mastered the art of tax planning, newer Canadians buying real estate may not understand how quickly seemingly viable investments can turn into financial disasters.  Mitigating the amount of tax deducted from your income ahead of tax season is a form of tax planning that can help investors build their wealth and grow as an investor.  For Canadian real estate investors, understanding the different tax... [read more]

Toronto is one of the more well-known Canadian cities and was one of the earliest settlements established by the British after the Toronto Purchase in 1787. Its name most likely derives from the Iroquois word tkaronto, meaning "The place where trees stand in the water".  Today, Toronto is the most populous city in all of Canada and is home to many important Canadian businesses and institutions. Although Ottawa is the country's capital, many important dealings occur in... [read more]

The real estate market in Toronto neighbourhoods can be very competitive. Some Toronto neighbourhoods boast some of the most expensive real estate in Canada, with homes often selling in the millions of dollars.  Keep reading for details on the most expensive neighbourhoods in Toronto, as well as information on the types of families that live in Toronto's most affluent areas.    Average Household Income in Toronto  The average household income in Toronto is... [read more]

A home equity line of credit (HELOC) is a kind of secured financing. Your home equity serves as a guarantee to the lender that you will repay the loaned funds. This is known as a type of "revolving credit" loan.  As a revolving credit loan, you may borrow money up to the credit limit stipulated in your contract, pay it back, and then borrow it again. HELOCs are different from home equity loans and can be used in tandem with a mortgage or as a standalone product.  Keep... [read more]

Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels. “Record population growth and a relatively resilient GTA economy have kept the overall demand for housing strong. However, more of that demand has been pointed at the rental market, as high borrowing costs and uncertainty on the... [read more]

On October 25, 2022, the Government of Ontario announced amendments to the Non-Resident Speculation Tax (NRST).  Here’s what REALTORS® need to know about the changes to the NRST and how it might impact their transactions.  Increasing the NRST As of October 25, 2022, the NRST rate will be increased from 20% to 25% and continues to apply to all regions of the province. The NRST applies to the transfer of “designated land”, which is considered land that... [read more]

The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September. However, despite the market being better-supplied with listings, the average selling price was up year-over-year. “The short and medium-term outlooks for the GTA housing market are very different. In the short term, the consensus view is that borrowing costs will remain elevated... [read more]

Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022. The average selling price remained virtually unchanged over the same period. On a seasonally adjusted monthly basis, sales and average price edged lower. “Looking forward, we know there will be solid demand for housing – both ownership and rental – in the Greater... [read more]

Greater Toronto Area (GTA) home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings were up. “Home sales continued to be above last year’s levels in July, which suggests that many households have adjusted to higher borrowing costs. With that being said, it does appear that the sales momentum that we experienced... [read more]

Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month. “The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by... [read more]

The Greater Toronto Area (GTA) housing market continued to improve from a sales perspective in May 2023. Unfortunately, the supply of homes for sale did not keep up with the demand for ownership housing. Sales as a share of new listings were up dramatically compared to a year ago. This is a clear signal that competition between buyers increased substantially compared to last year, resulting in the average selling price reaching almost $1.2 million last month. “Despite the fact that we... [read more]

The Greater Toronto Area (GTA) housing market continued to tighten in April 2023. On a year-over-year basis, sales edged lower compared to April 2022, but new listings were down by more than one-third. Fewer listings relative to sales meant there was more competition between buyers, supporting an improvement in selling prices since the beginning of this year. “In line with TRREB’s outlook and recent consumer polling results, we are seeing a gradual improvement in sales and... [read more]

Greater Toronto Area (GTA) housing market conditions tightened in March 2023. Sales accounted for an increased share of listings in comparison to March 2022, suggesting that competition between buyers is on the rise. The average sale price was above the average list price for the first time since May 2022. “As we moved through the first quarter, Toronto Regional Real Estate Board (TRREB) Members were increasingly reporting that competition between buyers was heating up in many GTA... [read more]

February sales in the Greater Toronto Area (GTA) were down substantially from the pre-rate hike levels of early 2022. However, the number of new listings also dropped substantially year-over-year. The result was that the average selling price and MLS® HPI continued to level off after trending lower through the spring and summer of last year. “It has been almost a year since the Bank of Canada started raising interest rates. Home prices have dropped over the last year from the... [read more]

As we moved from 2022 into 2023, the Greater Toronto Area (GTA) housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year. “Home sales and selling prices appear to have found some support in recent months. This coupled with the Bank of Canada... [read more]

While the overall demand for housing remained buoyed by record immigration in 2023, more of this demand was pointed at the rental market. The number of Greater Toronto Area (GTA) home sales in 2023 came in at less than 70,000 due to affordability issues brought about by high mortgage rates. “High borrowing costs coupled with unrealistic federal mortgage qualification standards resulted in an unaffordable home ownership market for many households in 2023. With that said, relief... [read more]

As of January 1st, every borrower needs to pass a new “Mortgage Stress Test” (MST) to qualify for a mortgage loan at a bank. And it won’t matter how much downpayment you have. Even if it’s 20% or over, you’ll still be subject to the MST. Once you pass the test, you’re not required to actually make a 20% down payment  - you can still take advantage of a lower one and a lower mortgage rate. But first you have to pass 'the... [read more]

Last week, the Bank of Canada hiked the interest rate another quarter point to 1.25%—a seemingly superficial number depending on which part of the country you’re in. The housing demand in Canada’s three largest cities is so great that removing a handful of buyers—as the new mortgage rules and interest rate increase will do—will have a negligible impact. However, in cities like Edmonton and Calgary, they’re recovering markets and this change will be harder... [read more]

No, you haven’t read the title incorrectly.  The phrase “Mortgage Pre-Approval” has 2 distinct, different meanings. I always want you to have a preliminary Mortgage Pre-Approval before we look for a residential home for you to purchase. This 1st type of pre-approval, is really a personal financial pre-approval (not on a specific property), based on your income, asset to debt ratio, credit history and report, amount of your anticipated down payment and other... [read more]

Many parents are helping their adult children buy their first homes. However it’s important that parents think carefully about their own future needs, before opening the doors to the “the Bank of Mom and Dad,”.   First time home buyers are usually in need of this type of assistance from their parents, adding to (topping-up)  the down payment. The new "Mortgage Stress Test" will likely make this scenario a lot more common. The Real... [read more]

It's definitely going to be a while. Currently the general public can’t access Toronto's past home sale prices without the help of a Realtor. For privacy, it's controlled by the Toronto Real Estate Board (TREB). But that might very well be changing. A 2016 Federal Court ruling which ordered TREB to end its strict controls on some housing data has recently been upheld, despite an appeal. Canada’s competition commissioner had argued that TREB’s... [read more]

Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB's MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016. New listings entered into TREB's MLS® System in November 2017 amounted to 14,349 – up by 37.2 per cent compared to November 2016, when... [read more]

Toronto's 2017 May/June market is very interesting: "Inventory" for sale is up (as is every spring); "sales" are down (more for buyers to choose from) yet prices have still increased year over year. There's no real reason for the slowdown in the number of properties sold. It's a 'healthy adjustment that isn't triggered by anything'. The interest rate hasn't changed/increased, and we're not in a recession. So the question is... [read more]

Not having your own Real Estate Agent to perform due diligence could land you in a horrible situation and losing thousands of dollars. You may have heard about two recent condo projects in downtown Toronto having been converted into ‘rentals’ with 181 innocent buyers of a  complex on King St. West, near Liberty Village, out as much as $40,000 each.  Another condo project,  “The Selby”, at Sherbourne and Bloor, abandoned their plans, as well. As... [read more]

Legally known as the Non-Resident Speculation Tax (NRST), this new tax is 15% on the purchase or acquisition of an interest in a Residential (only) property in the Greater Golden Horseshoe by individauls who aren't Canadian citizens or permanent Canadian residents. It is also applies to foreign corporations and taxable trustees. This NRST tax is in addition to the Ontario Land Transfer Tax. and, in Toronto, the Toronto Land Transfer Tax.  The legislation,is retroactive to April... [read more]

Today’s interest rates are still at an all-time low, which gives you several great opportunities. For current homeowners, paying down mortgage debt is more beneficial than ever with the low interest rates we are continuing to enjoy.  My advice to homeowners is to take advantage of paying down 'the principal' of your mortgage, which can be up to 20% twice a year depending on how the mortgage is structured.   Another option to consider is to... [read more]

So often, once we bought our home or have lived in it for a long time, we neglect to continuously take stock of what's inside.  Our  property/building insurance is in place but the value has increased, and we accumulate small and large valuable items that require protection too. When was the last time you thought about the increased value of your property and what’s inside your home? First, I advise ensuring that your real estate property (the building) insurance... [read more]