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Why I don't think we're in a buyer's market yet

Tuesday Jul 18th, 2017

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There have been a bunch of recent stories in the media about how we're now in a buyer's market. I just did a Google search for "Toronto buyer's market" in news, and voila: The year 2016 A.D. will go down as a hot year for Toronto real estate. Year-end average house prices in the 416 were up 22% over the previous December, which was the second highest gain in the last two decades (behind 29% in 2007). Average condo prices were up 16%, the third highest... [read more]

April 2020 charts: First full month under COVID-19 wasn't pretty

Wednesday May 06th, 2020

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Recapping the year to date, January and February started out hot. March was a tale of two halves, with the first half continuing hot, and then the brakes coming on in the second half after all three levels of government started implementing emergency measures to help contain the spread of COVID-19. Then April was one long month of riding the brakes. GTA-wide transactions went from about 9,000 last year to just under 3,000 this year - the lowest April in the last 25 years (as far back as TRREB... [read more]

March 2020 charts: Well that changed quickly

Tuesday Apr 07th, 2020

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Here's your Toronto real estate market report for the month of March. The first two months of 2020 were really hot, even eliciting comparisons to 2017.  Well March was a tale of two halves. The first two weeks of the month had GTA-wide sales up 49% over 2019, while the last half of the month was down 16%. The overall result was March looks positive compared to 2019, but the momentum of the second half, where emergency measures are in place and people are in isolation mode is carrying... [read more]

February 2020 charts: are things out of hand again?

Thursday Mar 05th, 2020

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Here's your Toronto real estate market report for the month of February. The year has jumped off to a strong start, exhibiting signs of an extreme seller's market similar to early 2017. In fact, I just wrote a blog entitled "Just how closely does early 2020 resemble early 2017 in Toronto real estate?" because that's a popular headline now. My conclusion - and the same is my overall message for this month, is that there were a lot of statistics that were... [read more]

What I am seeing on the ground in COVID-19 times

Monday Mar 23rd, 2020

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These are wild times. New proclamations are coming out seemingly daily from all levels of government, with the latest (at time of writing) being the Ontario government closing all non-essential businesses as at 11:59 PM Tuesday. I'm getting clients, people on my social media, and friends and relatives reaching out and asking me what affect I think it will have on Toronto's real estate market. So I figured I should write this blog post. (In earlier days, I took a look at whether the 2003... [read more]

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