March 2023   Dear Friend,   I love March! While winter is not yet done, (always a couple of snowstorms left including winter’s last gasp late March or early April), the days are longer, and we are in the home stretch heading for spring and warmer weather! As is usual for this time of year, buyers are starting to come out of winter hibernation and the number of monthly sales is starting to increase. 4,783 homes sold in February up over 50% from January’s... [read more]

April 2023 Dear Friend, March numbers are in, and the results are flabbergasting to most observers! It seems that GTA buyers have adjusted to the increase in borrowing costs much quicker than imagined and have been out purchasing! Toronto Real Estate Board members reported the sale of 6,896 homes, 47.5 % more than February! The Spring market is in full bloom! First time buyers lead the sales with 70.5% of homes selling for under $1,249,999 (52.5% were under $1,000,000). Despite those... [read more]

June 2023    Dear Friend,    The demand for housing continues to be strong! GTA realtors reported the sale of 9,012 homes in May, up 24% from last May’s 7,226. Sadly, new listings were down by 18.7% over the same period and as we all know it’s all about supply and demand. This shortage of homes for sale resulted in multiple offers on well-priced properties and brought the average sale price in May up to $1,196,101. This scenario is repeated in rental... [read more]

July 2023   Dear Friend,   The hunger and desire for home ownership was very evident in June’s sales activity as 7,481 homes sold on the Toronto Real Estate Board, up 16.5% over June of 2022. Despite the uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates, buyers were out and active and the average home price increased due to the high demand and low listing inventory of homes available for sale. It seems that we continue to... [read more]

September 2023 Dear Friend, The August numbers are in and not a bad month of sales considering it was summer and there was the looming concern of another increase in borrowing rates. 5,294 homes sold in August, similar to a year ago and with 15,497 homes available for sale it’s a tight real estate market. One out of three homes are selling and that is still a seller’s market where buyers don’t have many options to choose from. While the desire among buyers to purchase is... [read more]