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April 2024 Market Stats

April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.

Greater Toronto Area (GTA) REALTORS® reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS® System in April 2024 – down by five per cent compared to April 2023. New listings were up by 47.2 per cent over the same period. On a seasonally adjusted monthly basis, sales edged...

Federal Budget 2024: How it will affect Canadians’ finances and taxes

Learn how the federal government’s 2024 budget can affect you and your money.

The federal government touted Budget 2024 as providing “fairness for every generation” of Canadians. There are plenty of tax changes, especially for higher income earners, as well as incentives for renters and first-time home buyers. Here is what you need to know

March 2024 Market Stats

March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year.  Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level.

Greater Toronto Area (GTA) REALTORS® reported 6,560 sales through TRREB’s MLS® System in March 2024 – down by 4.5 per cent compared to March 2023. New listings were up by 15 per cent over the same period....

February 2024 Market Stats

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 record reached in 2021.

“We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number...

2024 Market Outlook & Year in Review

2024 Market Outlook: What's Trending Next

The direction of mortgage rates is key to where the housing market is headed in the Greater Toronto Area (GTA).

TRREB is forecasting that:

  • Home sales will reach the 77,000 mark in 2024, marking a substantial improvement compared to the less than 66,000 transactions in 2023.
  • The projected average selling price will move closer to $1.17 million this year.  This would be the second highest mark on record but still  below the 2022 peak.

 

2023 Year in Review: A Look Back

Sales, prices, and new listings results in 2023 showed decreases when compared...

December and Year-End 2023 Stats

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 Greater Toronto Area (GTA) 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 qualification standards resulted in an unaffordable home ownership market for many households in 2023.  With that said, relief seems to be on the horizon.  Borrowing costs are expected to trend lower in 2024.  Lower mortgage rates coupled...

Condo Market Report Q3/2023

TRREB Releases 2023 Q3 Condo Market Statistics

The condominium apartment market became much more balanced over the past year.  While Q3 2023 condo apartment sales were up year-over-year, growth in listings far outstripped growth in sales. The result was the average price edging lower providing some relief in the face of higher borrowing costs.

There were 4,415 condominium apartment sales reported through TRREB's MLS® System in Q3 2023 – up 6.2 per cent when compared to the same quarter in 2022.  Over the same period, new condo apartment listings were up by a much greater 28.8 per cent.

November 2023 Market Stats

TRREB: Elevated Borrowing Costs Taking a Toll on Housing Affordability TORONTO, ONTARIO, December 5, 2023 – High borrowing costs and uncertain economic conditions continued to weigh on Greater Toronto Area (GTA) home sales in November 2023. Sales were down on a year-over-year basis, while listings were up from last year’s trough in supply. With more choice in the market, selling prices remained basically flat year-over-year.

“Inflation and elevated borrowing costs have taken their toll on affordability. This has been no more apparent than in the interest rate-sensitive housing market....

Tips For Hosting a Stress Free Family Gathering For The Holidays

Hosting a large family gathering in your home can be a delightful experience if planned well.  Here are some tips to ensure your event is a success:

Clear Surfaces: Before your guests arrive, clear off surfaces like counters, side tables, and coffee tables.  This will create space for guests' items and help keep your home visually calm.

Plan Every Meal: Plan out a menu for every meal.  This will help you stay organized and ensure that there's enough food for everyone.

Decorate Your Home: Decorations are a key part of any event.  Use holiday party decoration ideas to turn your home...

TOP AGENT MAGAZINE Feature

I am honoured to be featured in TOP AGENT MAGAZINE  

This would not be possible without my amazing clients and the incredible support of my brokerage Harvey Kalles Real Estate.
I am forever grateful to live my dream career as a Realtor and serve my clients with luxury real estate experience. THANK YOU for your trust in me!

Contact me anytime to discuss your real estate goals.  I am always happy to assist you.

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