The Real Estate Magazine

Unveiling the world of real estate, we bring you an exclusive window into international and Toronto real estate market insights, cutting-edge design, lifestyle trends, and beyond – all curated to inspire, inform, and indulge your property passions.


 
Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Toronto Real Estate Market Report | February 2024

Explore the latest trends in the Greater Toronto Area (GTA) real estate market with our comprehensive analysis of the February 2024 real estate market. Discover how population growth, a resilient economy, and changing interest rate expectations are shaping home sales, prices, and new listings. Learn how buyers are adapting to elevated mortgage rates and how the market is responding to increased demand for housing. Stay informed about the impact of unaffordable housing on mental health an the initiatives to promote homeownership in the GTA. This article provides valuable insights for investors, homebuyers, and real estate professionals looking to navigate the dynamic Toronto housing market.

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Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | December 2023

In 2023, the Greater Toronto Area (GTA) real estate market navigated through a phase of recalibration, influenced by a blend of high borrowing costs and stringent mortgage regulations. Despite a buoyant demand driven by record immigration, the market's tilt was more towards rentals than home ownership. As we usher in 2024, early indicators suggest a potential resurgence in home sales, contingent on anticipated easing of borrowing costs and a resilient economy.

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Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | November 2023

The report, "Market Watch November 2023," presents a comprehensive analysis of the Greater Toronto Area's real estate market, reflecting trends impacted by economic conditions and borrowing costs. As of November 2023, a year-over-year decrease in home sales (-6%) contrasts with an increase in new listings (+16.5%). High inflation and borrowing rates have tempered market activity, maintaining flat year-over-year selling prices. The report anticipates potential relief with forecasted Bank of Canada rate cuts in 2024, which could improve affordability and stimulate market growth. The detailed statistical breakdown covers various housing types, prices, and regional specifics, offering valuable insights for strategic real estate investment and market forecasting.

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Real Estate Market Marco Chiappetta Real Estate Market Marco Chiappetta

Top-Tier Real Estate: Fall 2023 State of Luxury Report

As the country’s housing market continued to wrestle with the challenges of elevated mortgage rates, uneven economic performance and intense geopolitical turbulence, reviving luxury single family home sales in the third quarter of the year revealed the relative resilience and adaptability of luxury real estate buyers, as well as Canadians’ unwavering desire to attain home ownership.

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Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | September 2023

The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September. However, despite the market being better-supplied with listings, the average selling price was up year-over-year.

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Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | July 2023


In July 2023, the Greater Toronto Area (GTA) witnessed an increase in home sales, new listings, and prices compared to July 2022. Despite this growth, the momentum slowed following the Bank of Canada's rate adjustments in June. TRREB officials have voiced concerns over the future impact of uncertain borrowing costs and the need for cohesive housing policies amid rising immigration targets.

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Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | June 2023

Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month.

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Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta Economy, Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | May 2023

The GTA housing market saw a surge in sales in May 2023, but the limited supply of homes failed to keep up with the high demand, resulting in increased competition and rising prices. However, the unexpected interest rate hike in June introduces uncertainty and potential implications for the market in the upcoming summer months.

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Real Estate Market, Economy Marco Chiappetta Real Estate Market, Economy Marco Chiappetta

Market Report | March 2023

Greater Toronto Area (GTA) housing market conditions tightened in March 2023. Sales accounted for an increased share of listings in comparison to March 2022, suggesting that competition between buyers is on the rise. The average sale price was above the average list price for the first time since May 2022.

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Real Estate Market, Toronto Real Estate Marco Chiappetta Real Estate Market, Toronto Real Estate Marco Chiappetta

Market Report | February 2023

The report shows that sales of homes in the Greater Toronto Area (GTA) in February 2023 were down 47% compared to the same month the previous year due to the impact of higher borrowing costs resulting from interest rate hikes. Additionally, there was a drop in new listings by 40.9% compared to the previous year, which will lead to increased competition between buyers, eventually resulting in renewed price growth in the market. The report also suggests that new and innovative solutions, such as the City of Toronto's initiative to allow duplexes, triplexes, and fourplexes in all neighbourhoods citywide, need to come to fruition to achieve an adequate and diverse housing supply. Overall, the report highlights the impact of interest rate hikes on the real estate market in the GTA and the need for innovative solutions to support record population growth in the years to come.

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Real Estate Market Marco Chiappetta Real Estate Market Marco Chiappetta

What the Foreign Buyers Ban Means For You

On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Foreign Buyers Ban”) came into effect in Canada and will be in place for two years. 

As a company, Sotheby’s International Realty Canada expects that we will see continued interest and demand for Canadian real estate from purchasers from abroad who will remain fully qualified to purchase a home in Canada.

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