Luxury Condo Sales - December 2021

 

While December is usually one of the quietest months for luxury condo sales, this past month saw some exceptional transactions to cap off what was a record year for the whole of the Toronto Real Estate market.

December 2021 saw a total of 9 sales over $2,000,000 throughout the downtown core (c01/02/08/09), which is roughly the same number sold in December 2020 and 2019. (more…)

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Luxury Condo Sales

November 2021 was not only a strong month for luxury real estate compared to last year but one of the best months for condo sales above $2,000,000 ever. There was a total of 28 sales throughout the city’s downtown neighbourhoods (more…)

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Toronto Market Update

December’s Toronto and area residential marketplace exhausted all the superlatives that we would normally apply to a robust resale market. Not only was December’s housing market strong by historical standards, but it dramatically exceeded historic norms, performing more like a spring market than what we have come to expect of property sales during the holiday season. It’s almost as if the holiday season didn’t exist, and unfortunately, because of the restrictions imposed by the effects of Covid-19, normal retail shopping was non-existent. Deprived of retail shopping, it appears that buyers focused their attention on housing instead.
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Toronto Real Estate Market

The Toronto and area residential resale market continued its torrid pace in November, defying all expectations and forecasts. It wasn’t, however, homogenous in its performance, with different housing types and areas performing at dramatically different levels.

Overall, reported sales for the greater Toronto area were up a scorching 24.3 percent compared to November 2019. Last year, 7,054 residential properties were reported sold. This year that number jumped to 8,761. That number was driven primarily by the sale of ground-level properties, detached, semi-detached, and townhouse homes. Sales of these types of homes increased in both the City of Toronto and the 905 region, and correspondingly, so did average sale prices.
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Toronto Market Report

It was no surprise that October’s resale market results continued the record pace that began in June. Reported sales hit a new high in October, with 10,563 residential properties trading hands during the month, a 25 percent increase compared to last year. Not only were sales volume at record levels, but average sale prices also continued their steady upward march. Last October, which was a strong month, 8,445 properties were reported.
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Toronto Market Update

We have run out of superlatives to describe the greater Toronto residential resale marketplace. Records have been broken consistently for the last few months, and September was no exception. Two records were shattered in September: most sales ever recorded for the month, and the highest average sale price for all properties reported sold.
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Toronto Market Update - July 2020

July’s residential resale market performance was record breaking. Almost 11,100 properties were reported sold, a 28 percent increase compared to the 8,679 properties sold a month earlier. Compared to July 2019, sales improved by almost 30 percent. There were 8,555 residential properties reported sold last year. July’s numbers are the clearest indication as to the robustness and resilience of the Toronto marketplace, especially when fueled by record-low mortgage interest rates.
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Toronto Real Estate Market

By any standards, the residential resale market’s recovery in June was nothing but phenomenal. The lockdown and emergency measures implemented by the Province in mid-March literally brought the market to a standstill. It stayed that way throughout April, but by early May, we could sense recovery. By May the industry, agents, buyers and sellers had adjusted to the rigid in-person showing protocols – masks, gloves, sanitizers, social distancing, and no-touch viewings. Also, by May, the pent up demand, already present before the pandemic, began to push against the restrictions imposed by Covid-19 and sales began to take place.
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Toronto Market Update - April 2020

The Toronto and area resale market performed as expected in April. As reported in our March report, the implementation of the emergency lockdown measures had a crushing impact on the resale housing market. With most businesses closed and more than three million Canadians unemployed there was no reason to believe that the resale market would miraculously revive in April.

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Toronto Real Estate COVID-19

Until the Ontario Provincial Government declared a state of emergency, the Toronto and area residential resale market was on course to produce one of the strongest, most robust markets on record, including the establishment of a record-breaking monthly average sale price. All that changed around the middle of the month as people began following provincial health authorities directives: stay home, maintain social distancing, no large gatherings, and of course, wash your hands frequently. When many of Ontario’s businesses were ordered closed, the real estate market didn’t stop but stalled dramatically. (more…)

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