Market Update
The Bank of Canada's interest rate hikes have restored balance to major Real Estate markets. Despite the balance, the path to recovery is expected to be challenging due to persistent affordability concerns....
GTA Real Estate market is showing signs of balancing out in July, with slower sales growth and increased new listings. July home sales ↑ 7.8% yearly, but the growth rate has slowed MoM....
According to the Toronto Regional Real Estate Board, the average price for a home in Brampton in July 2023 was $1.05 million, a 5.6% decrease from June 2023 and a 2.4% increase from July 2022. There were 363 home sales and 1,401 active listings at the end of the month, with detached houses averaging $1.24 million, semi-detached houses averaging $944,373, attached houses averaging $904,575,...
6. East Gwillimbury: - Avg sold price: ~$1.4M - Price change: ↑ 20.7% yearly - Transactions: 36 5. Leaside-Thorncliffe Park-Flemingdon Park: - Avg sold price: ~$1.3M - Price change: ↑ 21.8% yearly - Transactions: 28...
Government fees, taxes, and charges constitute a significant portion of the cost of new homes in the GTA. The largest addition to the cost comes from the Harmonized Sales Tax (HST)....
All property types in July: - Avg sold price: ~$1.1M, ↓ 5.4% MoM, ↑ 4.1% yearly - Transactions: 5,250, ↓ 29.8% MoM, ↑ 6.9% yearly...
New condo sales in the GTA ↓ to their lowest point since 2009. This means that they have ↓ 35% yearly. The decline in sales is being attributed to rising interest rates and inflation....