Toronto real estate listings start 2016 in a deep freeze

In 2015, industry pundits were predicting that the scarcity of real estate listings in Toronto would continue into 2016. So far, they appear to be right. Agents from central Toronto to the suburbs say listings are in the deep freeze – even for a January, when the market is normally cool. The paltry number of houses for sale means sellers hold more power and prices remain aloft. Jason Mercer, director of market analysis for the Toronto Real … [Read more...]

Homes sales in GTA dropped in August, but average price still up

Home sales in the GTA may have dropped 12.5 per cent in August, but the average selling price was up by 6.5 per cent, according to the latest real estate figures. In York Region, the average price was $592,552, compared to the average price of $468,792 in the rest of the GTA. The number of new listings reported for the month was down 5.5 per cent compared to the same period last year. With both sales and new listings declining, market … [Read more...]

Toronto Real Estate: Market Watch December 2010

To sum up December 2010 housing activity, Jason Mercer, Senior Manager of Market Analysis for the Toronto Real Estate board has posted a video detailing the results. Some points discussed in the video: Existing home sales were down relative to 2009 Total sales for 2010 was about 86,000 making it the third best year on record HST, new federal mortgage lending guidelines, and rising interest rates played a part in slowing down real estate … [Read more...]