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.
April 2024 Market Report
April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.
Market Report | March 2024
March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level.
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.
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.
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.
Market Report | October 2023
The Toronto real estate market in October 2023 paints a picture of resilience amid challenges. Despite a 5.8% dip in sales compared to last year, home prices in the GTA have held steady, signalling a robust undercurrent in the market.
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.
Condo Market Report | Q2 2023
Market conditions in the condominium apartment segment tightened markedly in the second quarter of 2023. Sales were up strongly on a year-over-year basis, whereas the number of new listings was down sharply.
Market Report | August 2023
Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022.
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.
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.
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.
Market Report | January 2023
Get the latest insights on the Greater Toronto Area (GTA) housing market with our comprehensive January 2023 market report. Discover key trends, sales data, and expert analysis from Toronto Regional Real Estate Board (TRREB) President Paul Baron and Chief Market Analyst Jason Mercer. Don't miss out on this valuable resource for understanding the impact of higher borrowing costs on affordability and the potential for increased housing demand in the coming months. Read the full report now!
Market Report | November 2022
Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low level historically. The fact that the supply of homes for sale has remained low, has supported average selling prices at the $1.08 to $1.09 million mark since August.
Market Report | October 2022
Despite the continued housing market transition to a higher borrowing cost environment, the average selling price in the Greater Toronto Area (GTA) found some support near $1.1 million since the late summer.
Bank of Canada increases interest rate by 50 basis points
The Bank of Canada today increased its target for the overnight rate to 3¾%, with the Bank Rate at 4% and the deposit rate at 3¾%. The Bank is also continuing its policy of quantitative tightening.
Market Report | September 2022
The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs in September 2022. Sales for the month reached 5,038, but were down by 44.1 per cent compared to September 2021. New listings were also down on a year-over-year basis by 16.7 per cent to 11,237.
Market Report | August 2022
There were 5,627 home sales reported through the Toronto Regional Real Estate Board9s (TRREB) MLS® System in August 2022, representing a year-over-year dip of 34.2 per cent 3 a lesser annual rate of decline compared to the previous four months. The August sales result also represented a month-over-month increase compared to July.
Q2 2022 Condo Market Report
The Greater Toronto Area (GTA) condominium apartment market followed a similar trend to the housing market as a whole in Q2 2022. With 5,687 sales, the Q2 result represented a decline of 35.2 per cent compared to Q2 2021.
Market Report | June 2022
Higher borrowing costs continued to impact home sales in June 2022. Sales totalled 6,474 – down by 41 per cent compared to last year’s strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.