De Luca Realty Group Blog

We find ourselves in yet another province-wide lockdown. Real estate remains an essential service, so if you need to buy, sell, or rent during this time it is still possible. Sales have continued to climb at a record pace. Overall, March 2021 vs March 2020 sales increased by +97% (“416 Zones” +86% / “905 Zones” +103%)  with all 65 TRREB zones posting year-over-year gains - ranging from +32% to +230%. Caution - we need to be careful when comparing 2021 vs. 2020... [read more]

Toronto results continue their climb upward. Overall, Feb 2021 vs. Feb 2020 sales increased by +53% with all but 2 of TRREB’s 65 zones posting year-over-year gains. While all property types were up by at least 40%+ (detached, semi-detached, townhomes, condos), condominiums led the way with an increase of +64%. With respect to average price, the overall TRREB average price exceeded $1,000,000 for the first time ever, up +15% from Feb 2020. However, the increase in average price... [read more]

As the lockdown continues in Toronto, I hope you and your family are doing well and getting through. Markets trends observed at the end of 2020 continued in the first month of 2021 with the low-rise property market remaining strong and the condo and rental markets showings signs of a bottom. See below for updated market reports, including Q4 data for the condo and rental markets.  Earlier this month, the Toronto Regional Real Estate Board released their annual Market Year in... [read more]

Today marks the first day of the new province-wide stay-at-home order. Real estate remains an essential service, so if you need to move at this time, it is still possible. Despite increasing case counts and concerns over COVID-19 at the end of 2020, the Toronto real estate market has continued to heat up with the number of sales and prices up on a year-over-year basis (see Market Watch Report below).  Condos were of particular interest in December with a spike in the number of sales... [read more]

September was another strong month for the Toronto real estate market with strength driven mostly by the low-rise market (detached, semi-detached, and townhome properties). The number of sales was up 42.3% compared to September 2019 and average selling prices were also up 14% on a year-over-year basis. As always, if you are thinking about buying, selling, or investing in real estate at this time you should seek the professional advice of a REALTOR®️. Please feel free to... [read more]

August was another hot month for the Toronto real estate market with activity more akin to that of a spring market than a summer market. The number of sales in August 2020 was up 40.3% on a year-over-year basis. New listings and active listings were both up on a year-over-year basis. However, a stronger increase in the number of new condo listings against condo sales has resulted in balanced condo market conditions. Average selling prices were up 20.1% on a year-over-year... [read more]

Summer is the new spring in the Toronto real estate market this year and this makes perfect sense as we see buyers and sellers re-entering the market given improving public health conditions. The number of sales in July 2020 was up 29.5% on a year-over-year basis and up 49.5% compared to June 2020. With new listings up 24.7% on a year-over-year basis, market conditions have continued to tighten supporting price growth across the GTA. Average selling prices were up... [read more]

Market conditions in the Greater Toronto Area (GTA) continued to improve in the month of June as pent-up demand returned to the market. The number of sales was down by only 1.4% on a year-over-year basis, but up a whopping 84% compared to May 2020. Average selling prices were up 11.9% on a year-over-year basis and up 9.8% compared to May 2020. As always, if you are thinking about buying, selling, or investing in real estate at this time you should seek the professional advice of... [read more]

Market conditions in the Greater Toronto Area (GTA) improved in the month of May as everyone continues adjusting to the new normal. The number of sales was down by 53.7% on a year-over-year basis, but up 55.2% compared to April 2020. Average selling prices were up 3% on a year-over-year basis and up 4.6% compared to April 2020. As always, if you are thinking about buying, selling, or investing in real estate at this time you should seek the professional advice of a REALTOR®️.... [read more]

Before we jump into the monthly real estate stats and analysis, I wanted to ask - how are you doing? In these unexpected and unprecedented times, I hope that you, your family, and friends are keeping well and making the best of your situation. If there is anything I can do for you please let me know. It has been an interesting start to the decade, to say the least. I think more than ever it is important to read past the headlines related to the real estate market, especially headlines about... [read more]

Wow, February was a hot month for the Greater Toronto real estate market despite the cold weather. As temperatures continue to rise as we enter Spring this month, we can expect the market to heat up even more. The number of homes sold in February was up 45.6% from February 2019 and up 14.8% from last month. The number of new listings was also up by 7.9% from February 2019. With such a substantial increase in sales and a minor increase in new listings, market conditions have... [read more]

Sales for the month of January 2020 were up 15.4% compared to January 2019 and the average price for all homes was also up 12.3%. See below for the Toronto Real Estate Board's annual Market Year in Review and Outlook Report. Toronto Real Estate Board (TREB) Market Watch Report TREB's Market Year in Review and Outlook Report Below is a market snapshot of single family detached and condominium apartment price growth by municipality as of... [read more]

2019 turned out to be a great year for the Greater Toronto Area real estate market. Total sales for the year were 87,825 - up 12.6% compared to 2018 with the average selling price up 4%. Sales for the month of December 2019 were up 17.4% compared to December 2018 and the average price for all homes was up 12%. As we enter 2020, increased sales and a lack of inventory are expected to continue driving prices higher. Toronto Real Estate Board (TREB) Market Watch Report Below... [read more]

Market conditions continued to tighten in November as the number of sales outpaced new listings. Sales were up by 14.2% compared to November 2018 while new listings were down 17.9%. The average price for all homes was up 7.1% on a year-over-year basis. Toronto Real Estate Board (TREB) Market Watch Report Below is a market snapshot of single family detached and condominium apartment price growth by municipality as of November 30, 2019. The figures cited in this note... [read more]

Market conditions continued to tighten in October as the number of sales outpaced new listings. As a result, the Home Price Index Composite experienced the strongest rate of annual growth since December 2017. Sales were up by 14% compared to October 2018 while new listings were down 9.6%. The average price for all homes was up 5.5% on a year-over-year basis. Toronto Real Estate Board (TREB) Market Watch Report Below is a market snapshot of single family detached and... [read more]

Market conditions continued to tighten in September as the number of sales outpaced new listings. Sales were up by 22% compared to September 2018 while new listings were down 1.9%. The average price for all homes was up 5.8% on a year-over-year basis. Toronto Real Estate Board (TREB) Market Watch Report Below is a market snapshot of single family detached and condominium apartment price growth by municipality as of September 30, 2019. The figures cited in this... [read more]

Market conditions continued to tighten in August as the number of sales outpaced new listings. Sales in August 2019 were up by 13.4% compared to August 2018 while new listings were down 3%. The average price for all homes was up 3.6% on a year-over-year basis. Affordable options such as semi-detached homes, townhomes, and condos continue to show strength. Certain asset classes and neighbourhoods continue to outperform while others do not. Buyers,... [read more]

Market conditions continued to tighten in July as the number of sales outpaced new listings. Sales in July 2019 were up by 24.3% compared to July 2018 while new listings were down 3.7%. The average price for all homes was up 3.2% on a year-over-year basis. Affordable options such as semi-detached homes, townhomes, and condos continue to show strength. Detached home prices were down in some municipalities including Toronto. However, lower detached home prices are... [read more]

Market conditions continued to tighten in June as the number of sales outpaced new listings. Sales in June 2019 were up by 10.4% compared to June 2018 while listings were down 5.4%. The average price for all homes was up 3% on a year-over-year basis. Affordable options such as condos and townhomes continue to show strength due to demand from millennials, downsizing baby boomers, immigration, and a strong regional economy. Certain asset classes... [read more]

Both the weather and real estate market warmed in May 2019 with an 18.9% increase in the number of sales compared to May 2018. Increased sales and fewer listings continue to lead to tighter market conditions, which should have positive or stabilizing effects on price growth. The average price for all homes was up 3.6% on a year-over-year basis. Affordable options such as condos and townhomes continue to show strength due to demand from millennials, downsizing baby boomers,... [read more]

The Greater Toronto Area housing market began to thaw in April with a 16.8% increase in the number of sales and a 1.9% increase in the average selling price on a year-over-year basis. As the weather continues to warm, we should expect the same out of the real estate market in May as seasonal buying and selling pick up further. Condominiums across the GTA showed great strength in April in large part due to demand from millennials, downsizing baby boomers, and immigration to the... [read more]

With some flirtations in March, the Greater Toronto Area still awaits Spring weather and along with that, a seasonal uptick in market activity. Home sales in March 2019 were identical to March 2018 (an increase of 1 sale). However, the number of new listings was down by 5.1%, a likely recipe for modest price gains of 0.5% for all property classes on a year-over-year basis. As Spring finally arrives in the coming weeks and additional supply hits the market, we can expect continued modest... [read more]

The long winter in the Greater Toronto Area seems to have chilled the housing market with home sales down 2.4% in February 2019 compared to February 2018. On a seasonally adjusted year-over-year basis, the number of homes listed in February was also down leading to tighter market conditions. However, as the clouds clear this week and temperatures rise, we will get our first true glimpse of Spring. With Spring, we can expect the typical seasonal uptick in market activity even despite policy... [read more]

The Canadian dream of home ownership is usually focused on the beginning: the search for and acquisition of a house. But sometimes the dream becomes nightmare, when you lose your house and the bank or some other creditor takes it and sells it off. There are signs that worst case scenario is happening more often as the Toronto-area real estate market continues to cool. It happened to Cynthia McLuckie and her husband, Brian, who had been trying to sell their custom-built Caledon dream home at... [read more]

Home sales were up 0.6% and average selling prices were up 1.7% in January 2019 compared to January 2018. Certain asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional REALTOR®️ before making any decisions in the present market.  On February 6th I was privileged to attend an exclusive economic summit hosted by the Toronto Real Estate Board where industry representatives and... [read more]

Market statistics from the Toronto Real Estate Board are in for the last month of 2018 giving us an opportunity to reflect on the past year and look ahead to 2019.  In 2018, 77,426 homes were sold through the Toronto Real Estate Board. That number is down from the 92,263 homes sold in 2017. Average prices were up in the City of Toronto and down in surrounding municipalities. Strength in the city was largely driven by the condo market in 2018. Of course, certain asset classes and... [read more]

Home sales were down 14.7% and average selling prices were up 3.5% in November 2018 compared to November 2017. Certain asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional REALTOR®️ before making any decisions in the present market.  Condominiums across many parts of the GTA continue to show strength as buyers priced out of the freehold market settle for condos, millennials step up... [read more]

Market conditions in the GTA became tighter in October 2018 resulting in a positive impact on average selling prices in comparison to October 2017 and September 2018. Home sales were up 6% and average selling prices were up 3.5% in October 2018 compared to October 2017. Certain asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional REALTOR®️before making any decisions in the... [read more]

Home sales in the GTA were up 1.9% and average selling prices were up 2.9% in September 2018 compared to September 2017. Certain asset classes and neighbourhoods continue to outperform while others do not. For example, detached home prices in the City of Toronto were up 1.04% compared to a year ago while detached home prices for all of the Toronto Real Estate Board (over 500 communities) were down 1.63%. Buyers and sellers should seek the advice of a... [read more]

Home sales in the GTA were up 8.5% and average selling prices were up 4.7% in August 2018 compared to August 2017. Certain asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional REALTOR®️ before making any decisions in the present market.  Market demand remains resilient despite government regulations, mortgage rule changes, and interest rate increases over the past year.... [read more]

Home sales in the GTA were up 18.6% and average selling prices were up 4.8% in July 2018 compared to July 2017. Particular asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional Realtor before making any decisions in the present market.  Market demand remains resilient despite government regulations, mortgage rule changes, and interest rate increases over the past year. Tight supply,... [read more]

Home sales in the GTA were up 2.4% in June 2018 compared to June 2017. However, sales from May 2018 to June 2018 were up 17.6%, which is a better indication of present market activity.  Average selling prices across the GTA and all asset classes were up slightly (+2%) in June 2018 compared to June 2017. However, particular asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional Realtor... [read more]

In the month of May 2018, sales in the GTA were down 22.2% and the number of homes listed was also down 26.2% compared to May 2017. While sales were down in May, they were not down as much compared to the first four months of the year, leading to increased competition among buyers, a trend that usually leads to stronger price growth.   In the freehold housing market, the general price trend year-to-date has been positive. The 416 continues to outperform the 905. However, price... [read more]

In the month of April 2018, sales in the GTA were down 32.1% and the number of homes listed was down 24.6% compared to April 2017.  In the freehold housing market, the general price trend year-to-date has been positive. The month of April was the first month since Q1 2017 that single family homes across the GTA saw a month-over-month price increase (see data below)! Two months ago we suggested that it was the time for smart buyers to act and that has proven true. Spring has sprung and... [read more]

In the month of March 2018, sales in the GTA were down 39.5% and the number of homes listed was down 12.4% compared to March 2017.  In the freehold housing market, the general price trend year-to-date has been positive. From January 2018 to March 2018, prices are up in the majority of neighbourhoods. The Toronto freehold market remains particularly strong against the 905.  Condominiums across the GTA continue to show strength as buyers priced out of the freehold market... [read more]

In the month of February 2018, sales in the GTA were down 34.9% and the number of homes listed was up 7.3% compared to February 2017.  In the freehold housing market, the general price trend year-to-date has been positive. From January 2018 to February 2018, prices are up in the majority of neighbourhoods. The Toronto freehold market remains particularly strong against the 905.  Condominiums across the GTA continue to show strength as buyers priced out of the freehold... [read more]

In the month of January 2018, sales in the GTA were down 22% compared to January 2017 and the number of homes listed was up 17.4%. Price increases and decreases continue to be mixed across neighbourhoods and asset classes. Many areas and asset classes continue to show strength with the condominium market segment remaining the strongest. Market conditions in January 2017 should be seen as an outlier. Listing inventory in 2018 remains historically low and as demand picks up in the... [read more]

In the month of December 2017, sales in the GTA were down compared to December 2016, with sales for all of 2017 down 18.3% compared to 2016. The average selling price for the GTA in 2017 was up 12.7% compared to 2016, due in large part to very strong growth in Q1 and part of Q2 and reduced growth throughout the remainder of the year. The second half of 2017 was characterized by differing price growth outcomes depending on location and asset class. The condominium market segment continues to... [read more]