“Bank of Canada rate hikes, including the 50-basis point hike on June 1, are impacting home buyers in the short term. There is now a psychological aspect where potential buyers are waiting for a bottom in price. This will likely continue through the summer. However, as home buyers adjust to ...
Continue Reading“The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition ...
Continue Reading“Anecdotal information suggests that the market has eased somewhat during March, likely due to a combination of more supply, high prices, and the psychological impacts of the first interest rate increase by the Bank of Canada since 2018 and heightened uncertainty stemming from the Russian invasion of Ukraine.” Excerpt from ...
Continue ReadingWhat’s happening in the market? What does this mean for home buyers? What does this mean for home sellers? What if you’re buying AND selling? Hear my thoughts on these topics by watching this video. Miia Questions? Text/Call: 416-725-3544 Email: miiakellyrealestate@gmail.com #GTArealestate #Torontorealestate #Pickeringrealestate #Ajaxrealestate #Whitbyrealestate #Oshawarealestate #marketupdate #realestateagent ...
Continue ReadingI used to refer to Oshawa as the hidden gem of affordable homes. Not anymore…. Last month, Oshawa’s average home price was only about $52K lower than that of Toronto. And the average home price of Toronto was lower than that of Pickering, Ajax and Whitby. . I know that ...
Continue ReadingAverage home prices were up by over 30% year-over-year for Pickering (+33.2%), Ajax (+31.9%), Whitby (+31.2%) and Oshawa (+36.9%) in November 2021 compared to November 2020. The average home price for Toronto is relatively more affected by the condo apartment market since it has more of this type of home ...
Continue Reading“On an annual basis, detached price growth of nearly 29% in September was more than double that of condo apartments at under 12%. The price differential between the two housing types at $818K in September represented a record high, growing by 81% (+$367K) compared to two years earlier.” . Source: ...
Continue Reading“The tight market conditions across all market segments and areas of the GTA is testament to the broadening scope of economic recovery in the region and household confidence that this recovery will continue. A key part of future economic development in the GTA will be the ability to provide adequate ...
Continue ReadingAverage home prices in Toronto, Pickering, Ajax and Whitby continue to compete for “first place”, as month-to-month one surpasses another only to be overtaken again. Toronto came out with the highest average home price in October. For Toronto, this is partly due to the continuing recovery of the condo apartment ...
Continue Reading“ “The only sustainable way to address housing affordability in the GTA is to deal with the persistent mismatch between demand and supply. Demand isn’t going away. And that’s why all three levels of government need to focus on supply. The federal government has stated that collaboration with provinces and ...
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