iListRealEstate Toronto Real Estate Blog

February sales in the Greater Toronto Area were down from last year but nudged up from last month. The number of new listings also dropped substantially year-over-year. The result was that the average selling price continued to level off after trending lower through the spring and summer of last year. It has been almost a year since the Bank of Canada started raising interest rates. Home prices have dropped over the last year from the record peak in February 2022, mitigating the impact of... [read more]

Imagine you’re at the grocery store shopping for oranges. Two brands are available: the “Amazing Orange” and the “Super Orange.” Which would you choose to buy? Chances are, you wouldn’t decide based on their similarities. For example, since both oranges contain vitamin C, using that as a buying criteria wouldn’t help you choose between them. Instead, you would probably look for differences. What does one brand have that the other does not? Maybe one is... [read more]

Are you thinking of selling your home this year? If so, you might be paying extra attention to housing market news covered by the regional and national media. While that news can be helpful information, it can sometimes say little about what’s happening in your particular neighbourhood. In fact, it’s possible for there to be a balanced market nationally or regionally, while at the same time your street may be experiencing a hot seller’s market! That’s why it’s... [read more]

As we moved from 2022 into 2023, the Greater Toronto Area housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year. Home sales and selling prices appear to have found some support in recent months. This coupled with the Bank of Canada announcement that... [read more]

Analysts are expecting the hike to be .25% to 4.5%. This is expected to be the last rate hike of the year. Fixed rates have balanced off. You can get a fixed rate mortgage for as low as 4.59% on a purchase that is insured. The fixed rates are not that bad and with prices down by 15% to 20% in some markets buying with a 2 year mortgage and refinancing when rates go down again as they are expected too may be an option for many buyers and investors. If your a long term buyer now is definately a... [read more]

The Canada Mortgage and Housing Corp. has announced regulations for the ban on foreign homebuyers, which comes into effect on Jan. 1. Starting in the new year, foreign commercial enterprises and people will be prohibited from purchasing residential properties in Canada for two years. The ban, which was passed by Parliament on June 23, aims to address housing affordability challenges. There are some exceptions, including for those with temporary work permits, refugee claimants and... [read more]

Commercial Network Members reported 5,109,603 square feet of leased space through TRREB's MLS® System in Q3 2022 for all lease transaction types across the industrial, commercial/ retail and office market segments. This result represented a one per cent decrease compared to Q3 2021. Year-over-year changes in average per square foot net lease rates, for transactions with pricing disclosed, were up or remained steady across all three market segments. The average industrial lease rate for... [read more]

The Bank of Canada hiked its benchmark overnight rate by 50 basis points on Wednesday, its seventh consecutive increase, as the bank signals its aggressive tightening cycle may be coming to a close. Wednesday’s increase brings the key rate to 4.25 per cent, the highest level since 2008. A slim majority of economists had expected a 50 basis point increase, according to Bloomberg, while markets had already priced in a 25 basis point hike. Canada’s central bank has sharply hiked... [read more]