GTA real estate market on pace for another year of record-breaking sales
Toronto real estate agent Elli Davis just closed a “bully offer” for $300,000 over a $2.65 million listing price, a type of deal she’s making more often in the busiest market she’s seen in nearly 30 years. Read More.
Toronto’s suburbs get their share of the real estate frenzy
Multiple offers for desirable houses have been common in the suburbs surrounding Toronto for more than a year now, but Mr. Lackie wasn’t sure if a neglected fixer-upper would inspire a frenzy or a revolt. Read More.
In Toronto housing market, ‘Everyone wants what other people want’
During most spring markets in Toronto real estate, agents are flummoxed by the same phenomenon: Buyers tend to get especially enthusiastic about properties when they know that others want them. Read More.
Toronto’s east end has the hottest real estate in the city
The trendiest neighbourhoods in Toronto aren’t in the trendy west end, but the east. Homes north of Danforth Ave. and east of the Don River are selling fast, according to data provided by the Toronto Real Estate Board. The area, which encompasses posh Playter Estates to the west and rough-around-the edges Woodbine-Lumsden further east, boasts the shortest sale times in the city, with homes averaging a mere 12 days on the market compared to a city-wide average of 21 days. Read More.
Toronto real estate group: 2016 could set sales record year, prices still rising
The Toronto Real Estate Board expects home sales in Canada's largest city will be strong in 2016 and may set a record. TREB estimates its member realtors will sell between 96,500 and 105,000 residential properties this year -- either just above or just below last year's record high of 101,229 transactions. Read More.
Toronto real estate markets end year on sky-high note
Real estate boards in both cities released figures that showed 2015 was an especially busy year for agents. In Toronto, sales in the calendar year rose 9.2 per cent over the previous year to hit a record 101,299. Read More.
Average house price rose 10% to $456,186 in November
The average price of a Canadian home was $456,186 in November, a 10.2 per cent increase compared to the same month a year earlier. The Canadian Real Estate Association also noted Tuesday that stripping out the expensive and large markets of Toronto and Vancouver, the average price would have been $338,969 — a 3.4 per cent gain compared to November 2014. Read More.
Toronto condo prices could skyrocket 40 percent, predicts major developer
“My prediction, and I’ve been pretty accurate to date, is we are going to have a 30-to-40 per cent increase in values of the condo market in downtown Toronto over the next three to four years,” Barry Fenton, CEO of Lanterra Developments, told BNN in an interview on Thursday. He later clarified he expects that price growth to occur over the next three years, not four. Read More.
Buyers can cancel property sale over misleading information
Is a seller required to be truthful in disclosing to a buyer that a house was built on potentially toxic landfill? That was the issue in a case decided last month in eastern Ontario. Read More.
Toronto real estate market headed for 'soft landing': CMHC
Growth in house prices is expected to “flatline” in Toronto in the coming months, but first-time homebuyers may still find themselves priced out of the market. Read More.
Real estate industry says province may let cities levy Toronto-style land transfer taxes
Ontario’s real estate lobby group is warning home buyers that the provincial government may allow cities outside of Toronto to levy their own land transfer taxes, despite the province’s assurance that no decision has been made. Read More.