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Sales-to-New Listings Ratio increases to 50%, signaling more competition between buyers; pressure on prices

Sales-to-New Listings Ratio increases to 50%, signaling more competition between buyers; pressure on prices

A Sales-to-New-Listing Ratio of 50% is not good news for pricing in the Greater Toronto market — unless you’re a seller. The Toronto Real Estate Board’s (TREB) latest in-depth review of the overall market action in July shows this all-important Sales-to-New Listings Ratio increased to 50% from 42%. Last July, Condo.ca and other experts cautioned…

Home sales up 18.6% in July 2018 year-over-year; selling prices up an average of 4.8% to $782,129

Home sales up 18.6% in July 2018 year-over-year; selling prices up an average of 4.8% to $782,129

Breaking the trends, sales surged to 6,961 in July 2018, according to TREB, a gain of 18.6% over the same period last year. The average price (all home types) for the City of Toronto (416 area) was $824,336 in July 2018, up 4.8% over 2017. In the rest of the GTA (905) the average sales…

Condo prices up 5.4% year-over-year for second quarter 2018; 6.5% up in Toronto; new condominium listings down 15.9%

Condo prices up 5.4% year-over-year for second quarter 2018; 6.5% up in Toronto; new condominium listings down 15.9%

With new listing inventory down 15.9% in 2018 (versus 2017) pressure on condo pricing will increase. Condo apartments out-performed all other housing types in Toronto, despite rising prices. In Toronto, prices were up 6.5% year-over-year to $603,480 for the second quarter 2018, from an average of $566,873 in 2017. This is expected to continue, as…

Bank of Canada: Toronto market stabilizing; Toronto also leads sales activity nationally for June while national home sales rose 4.1 percent May to June

Bank of Canada: Toronto market stabilizing; Toronto also leads sales activity nationally for June while national home sales rose 4.1 percent May to June

Toronto led gains in sales activity for June over May of this year. The Bank of Canada also indicated last week that the housing market in Toronto is stabilizing, with Assistant Chief Economist at the Royal Bank commenting: “the market re-calibrating, if you will, and moving gradually higher.”[1] This is despite sligtly higher interest rates…

GTA home sales up 2.4 percent year-over-year for June 2018, with 8,082 homes sold; up 17.6 percent up June compared to May

GTA home sales up 2.4 percent year-over-year for June 2018, with 8,082 homes sold; up 17.6 percent up June compared to May

The overall GTA market, taking into account all housing types, bounced back in June 2018 with 8,082 home sales in the TREB MLS system, up 2.4 percent as compared to June 2017. This represents a 17.6 percent rise on a month-over-month basis, compared June 2018 to May 2018. This is not surprising after reports of…

May market numbers: condo prices up 6.5% year-over-year in 416, 1.2% in 905 as new listings were down 26.2% (TREB)

May market numbers: condo prices up 6.5% year-over-year in 416, 1.2% in 905 as new listings were down 26.2% (TREB)

Predictably, sales are down in all types of homes. One of the key factors is clearly lack of inventory. Even though Urbanation previously reported a Q1-2018 condo construction at a record high at 61,337 — inventory still remains tight.  This didn’t include 37,389 new units in the preconstruction phase — 86% of which presold. In…

Some neighborhoods remain hot for condos with 18 areas selling much faster than the average 16 days for the GTA

Some neighborhoods remain hot for condos with 18 areas selling much faster than the average 16 days for the GTA

Aside from price versus asking, Days on Market (DoM) is usually the best indicator of the relative hotness of a market. In April, condominiums continued to surge in popularity, with 18 of the neighbourhoods selling in less than the average time for the GTA.     In some areas, such as W02 and E01 (see…

Stable housing market and growing economy may make now the best time to buy new property

Stable housing market and growing economy may make now the best time to buy new property

Sales in manufacturing rose to $57.1 billion in March, with economists expecting ongoing economic growth. Juxtopositioned against a now-stable housing market — where prices are reliable and inventory is reasonably healthy — makes now an ideal time to buy home or investment property.     Average prices on real estate are actually up 3.1% since…

Condo prices up again average 3.2% (up 10.17% HPI) in GTA April 2018 over previous year: TREB MLS

Condo prices up again average 3.2% (up 10.17% HPI) in GTA April 2018 over previous year: TREB MLS

The Condo Housing Price Index is up again, year over year, by 10.17% in the GTA — and 12.37% in Toronto — according to the latest data from the Toronto Real Estate Board (MLS HPI). Meanwhile, the average across all home types is down in price by 12.4% (HPI).This follows a 9% price increase on…

Condo prices up 9 percent in 2018 over 2017,  with dollar volume sales at $2.7 billion: TREB

Condo prices up 9 percent in 2018 over 2017, with dollar volume sales at $2.7 billion: TREB

As expected, condo prices continue to rise on demand for more affordable homes. In the latest report from the Toronto Real Estate Board (TREB), condo resale prices not only held their ground, they increased by nine percent. “Seller’s market conditions for condominium apartments remained firmly in place in the first quarter of 2018,” said Toronto…

Condo building starts soar to records, up 78% in Ontario according to CMHC

Condo building starts soar to records, up 78% in Ontario according to CMHC

Toronto-area builiding starts for condos soared to record numbers: 78% month-over-month in Ontario, from February to March 2018) as condos remain the most popular option for new home buyers. “Indeed, note that Toronto starts jumped to the highest since at least 1990, but all of the gain was in condos,” wrote Bank of Montreal chief…

In Toronto, Work Spaces Get a Condo-Style Makeover

In Toronto, Work Spaces Get a Condo-Style Makeover

Although office spaces are typically leased, a growing number of professionals are beginning to question whether they should rent or buy. After all, these spaces are generally intended to be a long-term investment, whereas renting is only beneficial when fulfilling short-term needs. If you are only going to occupy a space for a few months…

Toronto Condo Developments Set Record

Toronto Condo Developments Set Record

The condominium market saw an increase in construction over the past month or so. Condo and multi-unit buildings rose by 14 per cent from February to March, compared to a 7 per cent decline in single-family detached homes. Ontario showed the strongest growth with 102,838 new units, an increase of 26 per cent. Toronto was…

Stable Canadian Market Attractive for Investors

Stable Canadian Market Attractive for Investors

Despite regulatory hurdles and a fluctuating market, Canadian real estate remains a solid investment in many aspects. According to representatives at the Real Capital Conference earlier this month, real estate across the country will continue to attract strong investment interest. Rob Kumer, Chief Investment Officer for KingSett Capital, described a growing trend among buyers to…

Over Half of Toronto Real Estate Price Increases Unexplained

Over Half of Toronto Real Estate Price Increases Unexplained

It is no secret that the real estate market has hit a rough patch, and it does not seem to be getting any better. Torontonians have been struggling with rising prices, and strict regulations have been passed by the government, making it even more difficult to purchase by limiting access to loans. The government has,…

Baby Boomers’ Investments in Residential Real Estate Outperforming Other Financial Investments

Baby Boomers’ Investments in Residential Real Estate Outperforming Other Financial Investments

According to a recent report by Mustel Group and Sotheby’s International Realty Canada, residential real estate investments rank high amongst Canada’s urban baby boomers. Approximately 61 per cent of baby boomers in Canada’s largest metropolitan areas (Vancouver, Calgary, Toronto, and Montreal) had real estate investments which outperformed other financial assets such as stocks and bonds….

Limited Housing Sparks Bidding Wars Across Ontario

Limited Housing Sparks Bidding Wars Across Ontario

  Bidding wars have broken out over the past several months as homes around the province have become few and far between, reaching what realtors describe as “historic low levels.” Housing prices have continued to increase despite a decline in sales. Kitchener-Waterloo Association of Realtors president Tony Schmidt noted that the region continues to see…

Metro Vancouver Condos, Townhomes in High Demand

Metro Vancouver Condos, Townhomes in High Demand

  According to the Real Estate Board of Greater Vancouver, demand is high for condominiums and townhomes across the region, a sharp comparison to detached homes. January listings were comprised of 3,796 detached, attached, and apartment properties, representing an 8.3 per cent decrease compared to the 4,140 homes listed a year prior. The board noted…

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