2020 Home Sales - the 3rd Best result on Record, Avg. Selling Price Reached a New Record Despite COVID-19 with its restrictions and uncertainties, Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.   Highlights from 2020 include: 95,151 sales were reported through TRREB’s MLS® System – up by 8.4% compared to 2019. Record Sales... [read more]

Home Sales and Listings: Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7% compared to May 2019. On a month-over-month basis, May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2% compared to April 2020.   New Listings The number of new listings in May was down by a similar annual rate to that of sales, dipping by 53.1% to 9,104. On a... [read more]

There's lots of potential buyers out there with lots of money available to invest.   I just sold a property in Toronto West where the seller saw over 100 showings in 5 days and received 19 offers. A couple of days later, I inquired about a detached home that had 30 registered offers.   On March 4th, 2020, due to Coronavirus social & economic impact, the Bank of Canada decided to cut Interest Rates (Lower Overnight Rate) from 1.50% to 1.25% (and... [read more]

Toronto Regional Real Estate Board's (TRREB’s) baseline forecast is calling for strong growth in home sales and selling prices, while the supply of listings is expected to be flat-to-down. “Robust regional economic conditions, strong population growth and low borrowing costs will support increased home sales in 2020. Market conditions will become tighter, as transactions will continue to outpace the growth in available listings. The resulting increase in competition... [read more]

On October 3rd, 2019 Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22% compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales. On a preliminary seasonally adjusted basis, the September... [read more]