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Buyers Re-Enter the Toronto Housing Market in February March 12, 2024 Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales […] Read More
Tighter Market Conditions in January 2024 When Compared to the Previous Year February 8, 2024 Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some homebuyers started to benefit from lower borrowing costs associated with fixed rate mortgage products. New listings were also up year-over-year but by a lesser annual rate compared to sales. The resulting tighter market conditions when compared to […] Read More
Better-Supplied Condo Market in Q4 2023 February 4, 2024 Fourth quarter 2023 condominium apartment sales in the Greater Toronto Area (GTA) remained low historically, as the demand for ownership housing continued to be hampered by affordability concerns brought about by high borrowing costs. Buyers who were active in the market benefitted from a substantial amount of choice. This meant that average selling prices were […] Read More
Toronto Resale December and Year-End 2023 Statistics Released January 22, 2024 While the overall demand for housing remained buoyed by record immigration in 2023, more of this demand was pointed at the rental market. The number of Toronto home sales in 2023 came in at less than 70,000 due to affordability issues brought about by high mortgage rates. High borrowing costs coupled with unrealistic federal mortgage […] Read More
Toronto’s Luxury Land Transfer Tax Takes Effect on January 1, 2024 January 1, 2024 In September 2023, the City Council of Toronto approved imposing a “Luxury Land Transfer Tax,” starting January 1, 2024. In addition to other revenue methods, such as removing the cap on $5/hour street parking and requesting the provincial government to implement a municipal sales tax or receive a cut from the existing HST, the City […] Read More
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