Suzanne Jenkins's blog

The Toronto Regional Real Estate Board (TRREB) just released the market statistics for October and the trends look good.  Whether you are actively in the market or simply staying informed, here is the latest on what is happening and how it may affect you.  For the Full Report click HERE

Sales Up:

The Greater Toronto Area (GTA) home sales increased strongly year-over year in October 2024 (4,646 units in 2023 vs 6,658 units in 2024). Over the same period, active available listings were up from 19,540 to 24,481, a significantly larger inventory of homes. When compared to September 2024,...

This is a Special Report we have prepared for Buyers and Sellers as we move through the Fall Real Estate Market.  First-Time Buyers Take Note.

September saw a surge in new listings of 18,089, blasting past the level of 12,547 in August.  This resulted in vast number of available homes for sale at month end, 25,612 properties.  Some may attribute this to the Bank of Canada (BoC) rate reduction in September or it may be that Sellers wanted to get on board for the Fall Market once vacations were over.  The resulting sales in September were 4,996 properties as reported by The Toronto Regional...

As we move into the cooler days of Fall and leave August behind us we can look back at the summer months ( May- Aug) and summarize the real estate activity in the Greater Toronto Area (GTA) as follows; 

1. Low sales volumes, 23,592 homes ( avg 5,898/ mth) vs 27,037 (6,759/mth) in 2023.  August 2024 had 4,975 sales, the lowest since January of this year, 
2. High level of new listings for the period at 65,419 vs 57,067 in 2023, up 14.6%
3. Very high level of available listings; 22,653 at the end of August vs 15,497 last year, up 46.2% from August 2023
4. Very high level of canceled listings,...

We hope you are enjoying your summer. Here we are entering the dog days of summer.  If you are like us, it sure seems to be flying by.  So if you are thinking of selling this year, this is a great time to consider repairs or renovation projects that have been on your mind.  It takes time and planning to get a home ready for sale.

Home presentation becomes increasingly more important during a Buyers Market in real estate.  With a greater selection of homes available for buyers to choose from, you really need to make your home stand out against the competition if you want top dollar.  To...

Are we really in the Spring Market?  From an available number of homes we sure seem to be, however in terms of sales, the buyers have been sitting on the sidelines waiting.  The Toronto Regional Real Estate Board (TRREB) reported that an abundance of New Listings has been flowing into the market, yet buyers are still waiting to make a move. April’s New Listings of 16,941 were up 29% over levels in March for all home types.  Sales on the other hand were up 8% in April over March.  Active Listings at the end of April were up 45% over Active Listings at the end of March.  Buyers have a huge...

The Toronto Regional Real Estate Board (TRREB) reported last week that the real estate market had seen a resurgence in sales activity since last year.  Sales activity rose to 5,607 properties during February or a 33% jump over January sales.  These sales were supported by a 37% increase in new listings during the month.  As we entered March there were 11,102 active listings available to buyers and no expectation that new listings would slow, as we embark on the Spring Market.  The average selling price of all home types was $82,017 higher than in January up 7.9% to $1,108720.  A detached...

Our Greater Toronto Area (GTA)  real estate market took a nose dive in terms of annual homes sold in 2023.  For the first time since the year 2000 the Toronto Regional Real Board (TRREB) posted the lowest number of homes sold, reporting 65,982 sales in 2023.  A significant decline from the peak experienced in 2021 of 121,712 sales.  Total sales were down 12.1% from 2022.  Average selling prices declined year over year by 5.4% ending the year at $1,126,604.  Over the past decade, average household income has not kept pace with rapidly increasing home prices.   Uncharacteristically low...

Fall Real Estate Market in The GTA

This past week the Toronto Regional Real Estate Board (TRREB) released it's market stats for the month of September.  According to the TRREB, The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September.  “The short and medium-term outlooks for the GTA housing market are very different. In the short term, the consensus view is that borrowing costs will remain elevated until mid-2024, after which they...

Greetings and welcome to our early Spring newsletter! As we bid goodbye to winter, the real estate market is shaping up to be as bright and hopeful as the blooming trees. We have some exciting data to share with you, so let's dive right in!