While prices are down when compared to last March, it’s important to remember that last year’s market was being tested on artificial pandemic stimulants. Things are now better than they appear. The big news is inflation is reported down to 4.3%. Market health is improving. Showings are up and the GTA recently experienced a record […]
Read MoreIn the world of financial and business soothsaying most of us have heard the expression, “The Trend is Your Friend.” Identifying when a trend has been established is important. House prices have been increasing for 8 weeks in a row – but for the previous 38 weeks they decreased. Is this a trend or a […]
Read MoreOver the final weeks of December and into the new year the experts producing economic reports have been overwhelmingly grim. On the topic of real estate, they did not take into account the great behind the scenes activity in the market. On the one hand, we should all be wringing our hands and drowning in tears, […]
Read MoreThe statistics are not telling the whole story. There is a great deal of behind the scenes activity in the markets. Sellers want to sell. Buyers want to buy. Everyone is waiting for that froggy moment to spring at the fly. In constant refrain, a key factor in keeping average sale prices in Toronto from […]
Read More…and the Storms of November came early? It depends what numbers you look at. The year over year average prices for October are down, but for the past few weeks the selling averages are cautiously inching up. Are we at the bottom or does this trench go deeper? The Bank of Canada is indicating a […]
Read MoreLike the Buyers and Sellers of Toronto Real Estate this bear cub is discombobulated. Another rate hike is coming. Listings are few. The berries are sparse. He’s searching for berries on an island where he’s never ventured as there are no berries to be found closer to shore. The mother bear snuffs and snorts and the […]
Read MoreSo, here we are, almost at a flatline of gains since this time last year. August is showing itself to be slow in volume with prices down again. As August is always slow it’s not a good bell-weather for the marketplace. September activity should bring useful information. Anecdotally, I’m seeing investors in the market looking […]
Read MoreIt is happening. In the last week of April a 5 year interest rate could be secured at 4.09%. Now on the 3rd of May…4.19% While demand remains high interest rates reduce buying power by approximately $50,000 per 1% change in rates. Sellers are encouraged to list for approximately the price at which they’d sell […]
Read MoreWhile these numbers for February indicate prices are still trending up, statistics from the past two weeks indicate showings are down and offers are down. What does it mean that offers are down? Is it more significant than a property which in the past year would have had 10 offers is now down to 3 […]
Read MoreIf you are currently holding a property in Toronto, you are in a very good position. Never has your asset been more liquid. This was the busiest November on record in the Toronto Real Estate Board. If you are in the market to buy, be patient. Give yourself time to understand the differential between list […]
Read MoreIf it was the whole story, it would be enough. Short supply.
Read MoreBuyers continue to search for their new home amid limited supply. Sellers fear crossing the divide to become Buyers. Where will we go? What if we sell and can’t find something? The market is in a state of tension that shows no sign of abating. Global economic predictions for the winter fly red flags: shifting […]
Read MoreAs Fall descends the dilemma of real estate supply continues to climb. While market reports show a decrease of activity on a year over year basis it is almost entirely a function of limited supply. Yes. Seller fatigue did contribute to a summer pause, but the real trickster in making sense of the data is […]
Read MoreThe market seems slow and feels sleepy like an overheated bulldog on an old front porch but prices are still rising on a year over year metric. The anticipated price decline in comparison to last year did not happen. The climb continues. However, sellers need to be wise about their expectations. With number of showings […]
Read MoreJune statistics reveal, and onward activity shows a slowing from the highs of this past March. Projections suggest July will be slower still and will likely document the first year over year decline in prices. It is important to keep in mind, however, that July 2020 was exceptionally active. The overall picture still shows an […]
Read MoreWhile hard facts show colossal increases from last May in volume, listings and even price, these are not meaningful statistics. Last May the province was still coming to terms with the lockdown. Agents as well as Buyers were coming to terms with how to do business and deciding where the ethical obligations resided in the […]
Read MoreThese are strange times in real estate. While we continue on in our daily navigation of the pandemic, mortgage rates are low and people press forward to find housing. There is a sense on the ground that “now is the time”. Properties listed below $1.5 M are receiving a pandemonium of offers if they have […]
Read MoreDecember 2020 unfolded like no December before. Sales of all property types, including condominiums, looked more like late spring numbers than what is normally the market’s performance during the holiday and yearend season. With interest rates at historically low levels, and retail shops shuttered by the provincial authorities, buyers went shopping for real estate.
Read MoreThe market is reshuffling. People are recalibrating where and how they want to live. Some are acting on their savings to capture low interest rates. Others are redefining their lives. The report below is the analysis of November’s market activity by Chestnut Park’s Managing Broker, Chris Kapches. The Toronto and area residential resale market continued […]
Read MoreWeek over week statistics reveal the number of showings are down in November, however offers remain at October’s levels and prices are up 11% from October 2019. There are condos available at reduced prices at the investor level, however, immediate tenants may be hard to find. People are looking for freehold rentals but do not […]
Read MoreIn the 416 sale prices in detached and semi-detached are up 21.4% and 21.9% respectively. Even condo prices which are beginning to fill the market in number of listings are up by 8.7% over all. The number of overall transactions are at record levels. There are indicators the market will balance toward the end of […]
Read MoreThe Toronto Crash? Will the real estate market of Toronto crash? Volume is down – way down. With the statistics from the first weeks of May it was showing a decrease off 70%. Then came a volume bump last week and activity began. There were more listings. Still listings are few. Prices and volume must […]
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