Toronto Condo Market Report May 2023
Posted on May 23, 2023
SALES COMMENTARY
Sales reached 7,531 on TRREB for April. This number was 5.2% lower than April of 2022 but 9.3% higher than March. We will start again to compare year-over-year numbers. Why? From April of 2022 onwards, when markets corrected, real estate markets have now become comparable. For sales in May, you can be certain that 2023 will be bigge...
Toronto Condo Market Report April 2023
Posted on May 15, 2023
SALES COMMENTARY
There were 6896 sales in March on The Toronto Regional Real Estate Board. The month-to-month increase was 45% versus just 20% in 2022. This confirmed what we said at the start of the year. Sales had bottomed out in January and the monthly market peak would exceed 7500 sales. Only 10% of respondents agreed with this forecast. Most sa...
There were 6896 sales in March on The Toronto Regional Real Estate Board. The month-to-month increase was 45% versus just 20% in 2022. This confirmed what we said at the start of the year. Sales had bottomed out in January and the monthly market peak would exceed 7500 sales. Only 10% of respondents agreed with this forecast. Most sa...
Toronto Condo Market Report February 2023
Posted on Apr 20, 2023
SALES COMMENTARY
Sales on TRREB for January were 3100 units, almost identical to December’s numbers. Have we reached the bottom of the sales cycle which started in April and trended straight down? Our answer is yes. Sales can’t get any lower based on our population; however, the real question is, how high will the peak be for the Spring market? His...
2023 - Toronto Real Estate Forecast
Posted on Feb 16, 2023
UNDERSTANDING WHAT HAPPENED IN 2022
since 2008 and prices will have declined by 15-25%.
The real estate market in 2021 and up to March of 2022 was clearly unsustainable. The Bank of Canada was late to correct inflation and to deal with interest rates which were basically zero. Starting in March, they began to overcompensate in both areas and the resu...