As sales rebound, new listings remain low and prices move higher, there continue to be oddities to follow in Toronto’s housing market. Most notably is the disconnect between prices in the detached and condo sectors. This summer for the first time in recent memory condos passed the half way mark to detached home prices. The … Continue reading The Market is getting Smaller
For the fourth consecutive month, and the 16th time in the last 20 months, the price of new single-family homes in the GTA has fallen. Having peaked over $1.3 million, the average price has dropped nearly 20% and now sits at $1,083,358. This is becoming increasingly interesting because the average price of a new condo … Continue reading New Homes Price Gap
The reviews are in and according to the big banks and many in the real estate industry, Toronto has achieved the much sought-after soft landing in the housing market. Thanks to the regulatory efforts and foreign buyer taxes the market recovered without needing to go through a (massive) correction. If this is true, then the … Continue reading The Real Cost of High Home Prices
Last fall we began to report on the similarities between the detached housing markets of Toronto and Vancouver, in particular how Toronto seemed to follow Vancouver’s price movements. Throughout the fall and winter Toronto stayed on this trajectory; however, as Vancouver’s struggles continued in the spring and Toronto’s market remained strong, the relationship weakened. This … Continue reading Vancouver/Toronto Comparison: Summer Update
Grading off current performances, one would have to conclude that Toronto’s real estate sector continues to pay off, while Vancouver’s has become a complete bust. If we limit the review to the last year, that would be the case; however, if we extend our judgment over a few years we see high parity between the … Continue reading Five Year Pay Off
Stop the presses new homes sales are back…if you focus only on the suburbs and ignore the stalled prices. The May totals from BILD GTA are in and new homes sales had a banner month. Total sales nearly doubled the same month last year and even outperformed the ten-year average. However, breaking down the sales … Continue reading May’s New Home Sales
In comparison to buying a home, renting in Toronto used to be a fairly good deal. For much of the decade, home prices were skyrocketing while rents were manageable. This enabled renters to save more towards a down payment for a home or simply better afford the city. This is no longer true with rents … Continue reading Housing Stock: To Rent it or Airbnb it?
In May TREB reported a 3.6% increase to the average price of a home in the Greater Toronto Area. This result may not seem significant in comparison to the price gains of recent years; however, it did mark the first time this year that TREB reported a year-over-year average price increase better than inflation. This … Continue reading Prices May Vary
Over the past decade there have not been many constants in the GTA’s real estate market. Prices have gone up for the most part (minus 2017/18); however, the extent that they rose each year varied significantly. Likewise, sales volumes have seen record peaks as well as modern lows. One factor that has remained impressively constant … Continue reading The Consistency of New Listings
The new home sales data from April showed condo sales vault back to life but at the expense of their prices. Meanwhile, single family home sales continued to improve over last year’s poor results, with even prices improving month to month for the first time since November, though they remain down from last year. Source: … Continue reading New Home Sales: Condo Prices Drop
The Six Housing Sense 