Search Results for: condos
3602-18 Yorkville Avenue – Yearning For Yorkville
Yearning For Yorkville – Yorkville has claim to many of Canada’s finest luxury condos. Few can boast of a penthouse with a privately accessible 2700 square foot rooftop terrace with views that seemingly never end—the epitome of a prestigious entertainer’s space and the envy of all. Watch the sunrise and the sunset and everything in between […]
Toronto Real Estate Market Report – January 2023
The new year always starts with excitement and curiosity regarding the real estate market. It’s common to see a boost in activity and buyer enthusiasm at this time of year. The rare exception was January of 2023 when we saw very few listings and a delayed “spring” market starting in late March. January 2024 has […]
Annex Neighbourhood Real Estate Market Report – December 2023
Annex Neighbourhood Real Estate Market Report – December 2023
Toronto Real Estate Market Report – December 2023
Toronto Real Estate Market Report – December 2023
What’s Behind So Few Sales?
As we kick off a new year, we look to new opportunities and new goals. We wish you and your family a happy new year. May it be healthy and full of possibilities.
The 2023 market was the year of the fewest transactions in Toronto since 2002. In fact, more than 8,000 fewer at 65,982. Interestingly, TRREB began tracking in 2002, and the population of the GTA was 4 million fewer.
Annex Neighbourhood Real Estate Market Report – November 2023
Annex Neighbourhood Real Estate Market Report – November 2023
There were seven transactions in November. The Annex market continues to slow down, with the increase in listings and fewer buyers willing to accept the higher mortgage interest rates. However, there is an accumulation of new listings that are sitting on the market. We are seeing some excellent buying opportunities for those in the market for Annex century houses.
Toronto Real Estate Market Report – November 2023
Toronto Real Estate Market Report – November 2023
Market Correction – Buyers Getting The Upperhand
The stats have been misleading for those of us on the ground. The most current real estate stats are just beginning to reflect what we are seeing on the streets.
The key in a transitioning market is to be nimble and flexible and pivot before your competitors. Don’t follow the market down. We can talk about how to do that if you want to sell and/or buy.
BoC has stated that we are unlikely to increase overnight lending rates again. The question now becomes when the lending rates will go down and by how much. We expect that homeowners should get comfortable with a mortgage rate in the 5.5% range in the years to come. Gone are the days of 1.5-3% range.
We encourage our current and past clients to plan for historical norms (5.5%) in the coming years. The average consumer would have you think there is a possible return to the unprecedentedly low-interest rates; we don’t see that happening any time soon.
