Average price of a resale condo unit in the Greater Toronto Area jumps nearly 6% Image

Average price of a resale condo unit in the Greater Toronto Area jumps nearly 6%

​​​​​​​The Greater Toronto Area’s resale condo market is going strong according to the latest quarterly findings from the Toronto Real Estate Board, but there are some areas where average prices are falling. 

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Canadian newcomers play a key role in fuelling housing demand Image

Canadian newcomers play a key role in fuelling housing demand

According to the survey results, newcomers account for 21% of all homebuyers in Canada. If the international migration level remains the same, newcomers are expected to buy 680,000 homes in Canada over the next five years. 

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More first-time buyers saving for single-family homes as condo prices soar Image

More first-time buyers saving for single-family homes as condo prices soar

If condo price growth in the Greater Toronto Area continues to increase at this rate, then more buyers will likely start saving just a bit longer in order to buy a single-family home instead.

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Resale housing market continues to tighten in the Greater Toronto Area Image

Resale housing market continues to tighten in the Greater Toronto Area

The typically busy fall market in now upon us, and according to the Toronto Real Estate Board’s latest resale figures for September 2019, the season is off to a strong start.

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Greater Toronto Area poised to lead Canada’s top-tier real estate market performance this fall Image

Greater Toronto Area poised to lead Canada’s top-tier real estate market performance this fall

With a busy summer behind us, it looks like the Greater Toronto Area’s luxury home market is poised for a strong fall, according to Sotheby’s International Realty Canada’s latest Top-Tier Real Estate report.  

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Canadian home sales increase for the sixth consecutive month Image

Canadian home sales increase for the sixth consecutive month

In August 2019, national home sales increased for the sixth month in a row, coming in 17% higher than the six-year low hit in February 2019. On a year-over-year basis, national sales jumped 5%, with significant activity in the Greater Toronto Area. 

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Lower mortgage rates spur brighter outlook for resale housing market Image

Lower mortgage rates spur brighter outlook for resale housing market

With a strong summer coming to an end, the Canadian Real Estate Association updated its resale housing market forecast with a slightly more positive outlook for the rest of 2019 and beginning of 2020. 

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Condo price growth continues to outpace detached home segment Image

Condo price growth continues to outpace detached home segment

The report looks at the first seven months of 2019 compared to the same period in 2018. Considering transactions in January to the end of July, the median price per square foot of a condo unit in the GTA increased 9.1% year-over-year to $743.

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Greater Toronto Area resale market conditions remain tight through the summer Image

Greater Toronto Area resale market conditions remain tight through the summer

According to the latest report from the Toronto Real Estate Board, the Greater Toronto Area’s resale market remained tight through August 2019. 

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Here’s where home prices have doubled in the City of Toronto in the last 5 years Image

Here’s where home prices have doubled in the City of Toronto in the last 5 years

The Toronto housing market has long had a reputation for being the hottest in the nation – even in the aftermath of provincial and federal policies introduced to cool prices, the city continues to see home values appreciate at a blistering pace.

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