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]

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]

For those of you who follow me on Social Media, you may have seen my video post on deferring mortgages. Much to my surprise, that post was hugely popular with tons of shares, comments and views! I figure one of two things were happening, either people have a lot of extra time on their hands, or they really are wondering about deferring their mortgages.   What’s the deal?   The big six banks (TD, RBC, CIBC, Scotia, Bank of Montreal and National) have decided to offer... [read more]

  I’m not sure if I can count how often I get asked, “What’s happening with the housing market???” If you live in the GTA, it seems to be everyone’s favourite topic of conversation! And, why not; it’s been a roller-coaster ride over the the past several years. From the frenzy of 2016-early 2017 bidding wars and sky-high prices, to the abrupt downturn and stagnation of the market in mid 2017 through 2018, the housing market has been continuously in... [read more]

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