Limited Listing Supply Pushes House Prices Up - Toronto Area Real Estate Market Update - May 2023
A 20-year low in the number of homes being listed for sale is causing Toronto area house prices to rise again, despite today's high interest rates.
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A 20-year low in the number of homes being listed for sale is causing Toronto area house prices to rise again, despite today's high interest rates.
Amidst continuing historically low levels of home sales, the competition for houses is surprisingly intense in Greater Toronto Area (GTA) as demand outpaces listings.
In spite of historically low sales levels and high interest rates, the demand bottleneck typical of the first quarter is making its annual appearance.
Toronto area sales levels continue to hit historical lows, but low listing levels keep prices flat.
2022 home prices are up year-over-year, but this obscures a tumultuous year in which prices hit new highs at the start, fell sharply in the middle, and have stayed flat since.
Most recent market numbers from November show that prices in the Toronto area market are plateauing - for now.
Latest numbers continue to show a stalemate - for now.
September market numbers are out - and I review how they stack up against on the ground realities now.
August market numbers are out - and I review how they stack up against on the ground realities now.
Average house price down to $1,285,222 in July, down 1% over last year, while average condo prices slid to $738,930, still 7% up over last year.
Latest market numbers show that Toronto's house and condo prices falling up to 20% from peaks earlier this year though staying slightly up year-over-year.
Early signs of a slowdown on-the-ground now strongly showing in the latest market numbers.
The slowdown we were first seeing on the ground over the past two months is now showing in the numbers.
While March 2022 housing market numbers were well above those of 2021 and 2020, there are some signs of cooling as average prices fall slightly from February.
The numbers for February continued to show a hot market.
Cold weather and snow storms in January did nothing to cool down Toronto’s red hot housing market.
Record year of 119,532 home sales, surpassing the previous record of 112,288 in 2016.
Colder weather has had no effect on Toronto’s red hot housing market which continued to show signs of heating up last month.
The Toronto Area real estate market once again posted strong numbers in October.
Average house prices jump up after months of holding steady as new listings remain historically low and average condo prices rise slightly.
A 56% decline from inventory levels year-over-year as the fall market is expected to remain as competitive as it has been this summer.
July's market numbers show that new listing supply for houses is falling faster than for condos.
The Toronto area market is still competitive and favouring sellers - but things are cooling down.
House sales of 7,825 in May are up 157% over last year - but this is due to the anomalies of the COVID-19 lockdown last year - and sales volumes have been trending down since...
The most important trend of note now is the start of a gradual cooling down in the market for houses across the Greater Toronto Area.
With 79% of houses and 63% of condos selling over the asking price in a pandemic no less, average home buyers are stressed - and confused.
This month we explore low inventory levels and demand shock in Toronto's housing market.
This month we explore the booming housing market in Toronto and across Canada and how new macro-prudential policies can be introduced to help cool the market.
'Excessive exuberance' on display in the Toronto area real estate market right now.
This month we look at Toronto's emerging housing bubble in the suburbs, how it's different from 2017 and how it will end this time around.
In this post we look at the condominium neighbourhoods within the Toronto and GTA area that have performed well in terms of home price appreciation during 2020.
Given the year we’ve had and the impacts of the COVID-19 pandemic, it’s interesting to note which neighbourhoods within the Toronto and GTA area have performed well in terms of...
In this month's Move Smartly report, we look at key trends to keep an eye on in the Toronto real estate market during 2021.
In this month's Move Smartly report, we look back at 2020 and how COVID-19 impacted the Toronto real estate market.
This month's Move Smartly report discusses when Toronto's downtown condo market will return to normal and the many vulnerabilities it faces.
This month's Move Smartly report investigates the rapid acceleration in demand and house prices in Toronto's suburban markets.
Our lead story in this month's Move Smartly Report unpacks conflicting reports about the condo market.
This month, The Move Smartly Report digs into where Toronto's surge in condo rental supply is coming from.
Our Monthly Market Report looks at how well major forecasts for Toronto area home prices are holding up six months after the start of the Covid-19 crisis.
The Greater Toronto Area saw a record low 2,942 home sales in April 2020.
The average rent for a condo across the Toronto area is down, while units for rent climb.
Realosophy's John Pasalis talks to BNN's Greg Bonnell about why sharply rising prices - particularly in Toronto's condo sector - might be a cause for concern.
The Toronto Area real estate market is heating up and getting competitive this winter as sales and prices rise and the number of new listings falls.
Why momentum is swinging back to the regions - and types of homes - that were hit hardest in last few years.
All Toronto area regions saw sales grow by double digits - except for Halton.
August home sales in the Greater Toronto (GTA) area were up 13% over the same month last year based on Realosophy Realty's analysis of sales through the Toronto Real Estate...
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