TRREB: Selling Prices Up In March and Set to Accelerate This SpringTORONTO, ONTARIO, April 3, 2024 – March 2024 home sales reported through TRREB’sMLS® System were lower than the March 2023 result, due in part to the statutory holiday GoodFriday falling in March this year versus April last year. Despite a better-supplied marketcompared to last year, there was enough competition between buyers to see...
Real estate agents in Ontario are required to walk you through this guide before providing services or assistance to you. Working with a real estate agent — page 2This section describes the benefits of working with a real estate agent, what you can expect,and the responsibilities of clients.Know the risks of representing yourself — page 4This section explains the risks if you choose not to work...
Introduction: Investing in a pre-construction property in Ontario is an exciting venture, offering the opportunity to tailor your dream home or make a sound real estate investment. However, it's essential to navigate the financial landscape with a clear understanding of the associated costs. In this blog, we'll delve into the realm of pre-construction closing costs in Ontario and shed light on the crucial...
Introduction: Embarking on the journey of purchasing a pre-construction condo in Ontario can be a thrilling adventure filled with anticipation and potential. However, it's crucial to navigate this process with knowledge and awareness. In this guide, we'll explore some must-knows for those considering investing in pre-construction condos in Ontario. Understanding the Pre-Construction Phase: Buying a...
An annual tax will be levied on vacant Toronto residences, payable beginning in 2023. A property is considered vacant if it was not used as the principal residence by the owner(s) or any permitted occupant(s), or was unoccupied for a total of six months or more during the previous calendar year. Properties may also be deemed (or considered to be) vacant if an owner fails to make a declaration of...
Sales Numbers Overall, in Toronto and GTA sales were down 47% from same time last year. Market had the lowest sales volume in 20 years for the fourth consecutive month. What is causing this? Many buyers are sitting on the sideline as Bank of Canada is continuing on raising interest rate. This upward trend on interest rate is not an ideal environment for buyers as their budget and monthly...
Average selling price in Greater Toronto Area has fallen by 14 per cent since February! The slowdown underway in Canada's two most expensive housing markets continued in June, with new numbers showing the number of homes sold in Toronto and Vancouver fell by more than a third, and average prices have now declined for several months in a row. The Toronto Regional Real Estate Board (TRREB)...
The Canada Mortgage and Housing Corp. (CMHC) says 3.5 million more homes need to be built by 2030 to reach affordability. The agency released a report Thursday explaining the need for a different approach to the housing supply shortage at a time of rising demand and affordability concerns. "Increasing supply will be difficult. Critically, increasing supply takes time because the time to...
Good luck buying a home anywhere in Ontario right now, as meteoric price gains and a historic inflation spike push housing markets in the province further out of reach. And as bad as things are in the Greater Toronto Area in 2022, rampant speculation is not limited to urban centres. According to one housing market assessment, Peterborough is now the single most overvalued housing market in the entire...
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