Suzanne Jenkins's blog

The Toronto Regional Real Estate Board (TRREB) reported last week that homeownership in the Greater Toronto Area (GTA) became more affordable in March 2025 compared to the previous year. On average, both borrowing costs and home prices have declined over the past year, making monthly payments more manageable for households looking to buy a home.  “Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring. Buyers will also benefit from increased choice, giving them greater negotiating power. Once consumers feel confident in the economy...

The housing market was off to a much slower pace than we saw after the first two month in 2024.  The Toronto Regional Real Estate Board (TRREB) provide an update late last week, click HERE for the full report.  Here are some of the takeaways as we see it.

Total sales so far this year of 7,884 were down 19.8 percent compared to a year earlier.  February sales were 4,037 up 5.0 percent from January.

The number of available homes for sales in 2025 to date, has averaged 17,362, a 65 percent increase from the same period in 2024.  February available homes of 19,536 was up 13.9 percent...

The Greater Toronto Area (GTA) housing market kicked off 2025 with mixed signals and perhaps some economic uncertainty.   A lot has happened in the first 40 days of the year.  The Liberal Party of Canada is in the throes of a leadership race, Trump is wreaking havoc on Canada and much of the world, we are facing a provincial election at the end of the month, the Bank of Canada dropped the bank rate by another quarter point at the end of January and in general, there is a tonne of uncertainty in the economy and the real estate market. 

At one point last year many pundits thought 2025 would...

The Toronto Regional Real Estate Board (TRREB) reported this week that “the Greater Toronto Area (GTA) housing market experienced a transitionary year in 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result. “Borrowing costs were top of mind for home buyers in 2024. High interest rates presented significant affordability hurdles and kept home sales well...

The Toronto Regional Real Estate Board (TRREB) reported this week that the Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs.  Currently, a 5 year fixed rate mortgage is now about 4.5% vs 5.5% in 2023 and a variable rate loan is about 5.0% vs 6.3% a year ago.

TRREB reported that New listings were also up compared to November 2023 by 9.9%, but by a much lesser annual rate than sales, which were up 39%. This meant that market conditions...

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...