It seems the impossible has happened… the once flaming Toronto Condo market, has cooled down. Both the resale and rental market have been heavily impacted, with many investors feeling the pain. A complete elimination of Airbnb, high vacancy rates, rapidly declining rental rates and high days on market (DOM) have been leading many investors to sell their once sought ofter properties, thus adding to the supply. So, let’s take a look at what is happening.   The... [read more]

What’s Happening Now and A Look Ahead   In the midst of a global pandemic, the GTA housing market continues to astound and defy its critics. In the last several months, we’ve seen an incredible comeback; from a spring that could almost be described as frozen, to a red hot summer with incredible growth and activity.    Across the GTA in all home types, prices increased an average of 20% from Aug 2019 to Aug 2020. And total residential transactions (sales)... [read more]

With months of pent-up buyer demand combined with the gradual reopening of the GTA in June, the stage was set for a very active Real Estate market, and the numbers did not disappoint.    According to the Toronto Real Estate Board (TREB), the average selling price across all home types rose to $930,869, up 11.9% compared to June 2019. Since the COVID lock down began, we have seen a considerable reduction in the number of sales in both April and May, however, actual June... [read more]

  Every industry has adapted to the unprecedented times that we are facing, and Real Estate is no different. While the volume of transactions has fallen dramatically in the past two months, the balance between new listings and sales has remained level. As a result, the April average price in the GTA did not see a drop, year-over-year. And, while we are not seeing the super-hot conditions of February, this more balanced market can be a welcome change for both buyers and... [read more]

Yes, but “right-sizing” could be just the right medicine!   The Crisis of Social Isolation Your family home, once a bustling hub of activity, may have become a much quieter a place in your older years. Research shows that older Canadians are growing increasingly lonely and isolated, enough so that some are calling it a public health crisis. Mariam Larson, a gerontologist and coordinator with Allies in Aging says, "It's worse than smoking. It's worse... [read more]