Tightening affordability caused a slowdown in GTA homebuyer activity. Toronto sales ↓ 5.8% yearly, but ↑ 0.1% MoM -Sales ↑ 25% Mississauga, ↑ 6%** Milton & ↑ 8.9%York Region Prices ↓ 10% in Oakville, Halton Hills, and Brampton -Prices ↓ 7.4% in Burlington, offering buyers more affordable options...
Sales Decline: Annual multi-family sales in GTHA ↓ 44% in Q3-2023 to 15,971 units. Shift in Demand: Condo sales ↓ 23%, while townhouse sales ↑ 426%.Project Launches: Eight condo projects open in...
The real estate market in Greater Toronto is experiencing a significant downturn as prices have dropped and demand has waned. According to data from the Toronto Regional Real Estate Board (TRREB), the benchmark home price fell by 2.1% in October, amounting to a decrease of $23,400. This decline has erased most of the gains made in the past year, signaling the cooling of the once red-hot real estate...
GTA's housing market faces uncertain prospects amid ceased interest rate hikes and continued price surges. Despite predictions of a market crash, high rates maintain soaring prices in the GTA. Demand persists, but unaffordability prevails due to high rates hindering potential buyers....
GTA suburban home prices surged during the pandemic but have recently sharply declined. Falling prices affect buyers as appraisals fall short, and mortgage qualifications become stricter. Buyers struggle to secure financing as closing dates near....
Detached Houses: Avg Price: $5.52M Sales: 9 Avg DOM: 16-day Attached Houses: Avg Price: $2.16M Sales: 2 Avg DOM: 21-day Semi-Detached Houses: Avg Price: $3.32M Sales: 5 Avg DOM: 4-day...
A high-rise residential development at 391 South St. has received a massive low-interest loan from the federal government in exchange for making about a fifth of the units affordable housing. The terms of the deal include at least 129 of the building’s 588 units (21.9 per cent) will rent at or below 30 per cent of London’s median household income. “That’s why we’ve decided to focus the...
In Late-Q3, new-build home sales in the GTA saw a ↑ 303% yearly. Despite this surge, these sales remain 32% below the 10-yr avg, raising questions about long-term trends. Market stability and the decision to maintain a 5% key interest rate may have fueled this demand....
The GTA housing market has been facing affordability challenges, especially with avg condo prices exceeding $700K. Developers are now focusing on smaller units with lower prices per sq ft to drive demand and absorption....
Greater Toronto Area home sales in October ↓ 5.8% yearly, and remained relatively flat MoM with 4.6K sales. New listings in October ↑ 38% yearly, reaching 14.3K listings. Despite the increase in listings and softer sales, the avg home price ↑ 3.5% yearly to $1.12M in October....