The average price of a detached home in the GTA has barely changed since a year ago
October 2019 proved to be a strong month for the Greater Toronto Area’s resale market, with home sales and prices still climbing, while new listings continued to drop.
Canadian home sales continue to climb through the fall
According to the Canadian Real Estate Association, home sales reported through national MLS systems in September 2019 increased 15.5% year-over-year, and came in 18% above the six-year low hit in February 2019.
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.
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.
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.
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.
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.
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.
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.
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.
