GTA REALTORS ®  Release March 2024 Stats

Sunday Mar 10th, 2024


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]

GTA REALTORS ® Release February Stats

Saturday Feb 10th, 2024


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]

GTA REALTORS Release January Stats

Wednesday Jan 10th, 2024


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]

GTA REALTORS Release December and Year-End 2023 Stats

Wednesday Dec 20th, 2023


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]

This multi-year cruise around the world costs less than living in Toronto. Would retiring at sea be a better plan?

Tuesday Dec 19th, 2023


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]

The Difference Between Real Estate Investors and Real Estate Developers

Tuesday Dec 12th, 2023


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]

GTA REALTORS® Release November 2023 Stats

Wednesday Nov 29th, 2023


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]

Tax Tips For Real Estate Investors

Tuesday Nov 28th, 2023


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]

How Many People Live In Toronto, Ontario?

Friday Nov 24th, 2023


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]

Wealthiest Neighbourhoods In Toronto

Tuesday Nov 14th, 2023


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]

Home Equity Line Of Credit Rates Canada

Tuesday Nov 7th, 2023


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]

GTA REALTORS® Release October 2023 Stats

Thursday Nov 2nd, 2023


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]

Non-Resident Speculation Tax (NRST)

Wednesday Nov 1st, 2023


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]

GTA REALTORS® Release September 2023 Stats

Thursday Oct 5th, 2023


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]

GTA REALTORS® Release August 2023 Stats

Friday Sep 8th, 2023


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]

GTA REALTORS® Release July 2023 Stats

Thursday Aug 3rd, 2023


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]

GTA REALTORS® Release June 2023 Stats

Thursday Jul 6th, 2023


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]

GTA REALTORS® Release May 2023 Stats

Monday Jun 5th, 2023


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]

GTA REALTORS® Release April 2023 Stats

Friday May 5th, 2023


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]

GTA REALTORS® Release March 2023 Stats

Wednesday Apr 5th, 2023


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]

GTA REALTORS® Release February 2023 Stats

Monday Mar 6th, 2023


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]

GTA REALTORS® Release January 2023 Stats

Monday Feb 6th, 2023


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]

The New 'Mortgage Stress Test' Is For Everyone. And It's Complex

Wednesday Mar 7th, 2018


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]

The Latest Mortgage Rate Hike May Only Have a Negligible Effect.

Monday Jan 22nd, 2018


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]

Did you know there are 2 different kinds of Mortgage Pre-Approvals?

Saturday Dec 9th, 2017


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]

The "Bank of Mom and Dad" - What Now?

Saturday Dec 9th, 2017


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]

Will The Public Be Able to Access Toronto's "Sold' Data?

Wednesday Dec 6th, 2017


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]

Our Market is Recovering But....

Tuesday Dec 5th, 2017


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]

Inventory Up, But Sales Down. Yet Prices Are Still Increasing.

Tuesday Jun 6th, 2017


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]

You DO Need a Realtor When Buying Pre-Construction Condos & Homes !

Saturday Apr 29th, 2017


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]

What Ontario's New Foreign Investment Tax Means.

Saturday Apr 29th, 2017


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]

Save Money: Pay Down Your Mortgage

Thursday Mar 9th, 2017


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]

It's Critical to Increase Your Property and Contents Insurance

Thursday Mar 9th, 2017


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]


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