Real Estate News

Home Sales In Toronto See Partial Rebound After Pandemic Shock

Home Sales In Toronto See Partial Rebound After Pandemic Shock

Home sales in Toronto rebounded in May, after collapsing in April while the COVID-19 pandemic took hold. As sellers wait out the COVID-19 crisis the number of new listings remains tight. The average selling price for all home types - including single family houses and condos - was $863,599, up 3 per cent compared to May 2019. Looking forward, as we move toward recovery, the housing sector will be a key driver of growth as consumer confidence increases and more households look to take advantage of very low borrowing costs. I am ready to help you. Call me at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Toronto Area Home Sales Tumble By 67 Per Cent

Toronto Area Home Sales Tumble By 67 Per Cent

Home sales in the Toronto region plunged 67 per cent in April compared with the previous year, as the COVID-19 pandemic closed businesses and led to mass layoffs. Looking forward, a key factor for the housing market recovery will be a broader reopening of the economy, which will result in a stronger labour market and a resurgence in consumer confidence. If you are a homeowner and experiencing financial hardship, you can request to defer payments on your mortgage for up to 6 months. I am ready to help you. Call me at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Toronto Home Sales Dive In The Second Half Of March

Toronto Home Sales Dive In The Second Half Of March

Home sales in the Toronto region soared in the first half of March and then plummeted in the second half as the spread of COVID-19 prompted the Ontario government to shut down non-essential services. In the meantime, many buyers and sellers have put their plans on hold. The housing market will not go unscathed as consumer confidence and a strong labour market are essential in the decision to purchase a home. If you are experiencing financial hardship, you can request to defer your payments on your mortgage for up to 6 months. I am ready to help you. Call me at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Toronto Home Sales Soar In February

Toronto Home Sales Soar In February

Toronto home activity soared in February, with buyers pushing up the average residential sale price as they competed for houses in a market with barely adequate supply. The low supply made it harder for buyers to find a home and prompted another month of hectic activity with properties receiving multiple offers above the asking price. The average sale price of a home jumped 17 percent in February from a year ago to $910,290. Looking forward, we believe the spring market will be very active based on pent-up demand in a market that is already tilted in favour of sellers. I am ready to help you with all of your real estate needs. Call me at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Home sales jump 15 per cent in January

Home sales jump 15 per cent in January

Home sales in the Greater Toronto Area increased 15 per cent over January last year, when activity slowed because of tougher borrowing rules. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Looking forward, the Toronto Real Estate Board forecasts the average price of a Toronto-area resale home will rise nearly 10 per cent this year to $900,000. I am ready to help you with all of your real estate needs. Call me today at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Toronto Home Sales and Prices Near Record Levels in 2019

Toronto Home Sales and Prices Near Record Levels in 2019

Toronto’s housing market rebounded in 2019 as buyer demand climbed while new home listings fell, pushing the average residential sale price close to a record high. Led by gains in detached houses and condos, the average resale price in December rose 12 per cent year-over-year to $837,788. RE/MAX is predicting the Toronto housing market will favour sellers in 2020, with the average residential sale price increasing by 6 per cent this year. I am ready to help you with all of your real estate needs. Call me today at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Home Sales and Prices Surge in November as Confidence Returns to the Market

Home Sales and Prices Surge in November as Confidence Returns to the Market

Home sales in Toronto jumped 14 per cent in November compared with last year, when prospective homebuyers were struggling with tougher mortgage rules and rising interest rates. Across the Greater Toronto Area, the average sale price for all types of housing, including detached houses and condos, was $843,637 in November, a 7 percent increase over the previous year. RE/MAX is predicting the Toronto housing market will favour sellers in 2020, with the average residential sale price increasing by 6 percent next year. I am ready to help you with all of your real estate needs. Call me today at 416-949-1684 or visit http://www.stevemoranhomes.com […]

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Toronto Home Prices Rise In October

Toronto Home Prices Rise In October

The Toronto region's strong economy and growing population are continuing to push the cost of real estate higher with average home prices - including all types of houses and condos - rising 5.5% year over year to $852,142 in October. While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers. I am ready to help you with all of your real estate needs. Call me today at 416-949-1684 or visit me at http://www.stevemoranhomes.com […]

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Toronto Area Home Prices Hit 2019 High In September

Toronto Area Home Prices Hit 2019 High In September

Home sales rose sharply in the Toronto region last month as Canada's largest city continued to move strongly into recovery mode after a long slump. The average sale price for all types of homes hit $843,115 in the GTA in September, the highest average monthly sale price since May, 2017. Looking forward, if sales growth continues to outpace the rate of new listings, the market will tighten further and price growth will accelerate. I am ready to help with all of your real estate buying and selling needs. Contact me today at 416-949-1684 or visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Continue To Rise In August

Toronto Home Sales Continue To Rise In August

Toronto area home sales and prices rose in August as demand continues to outstrip supply. The Greater Toronto Area's strong economy, cultural diversity and internationally recognized quality of life continues to attract newcomers to the region each year. Looking forward, if demand for housing continues to increase relative to the supply of listings, the annual rate of price growth will accelerate further. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Soar In July

Toronto Home Sales Soar In July

Toronto home sales defied the normal summer slowdown to soar in July, outpacing even June sales levels as buyers are increasingly overcoming tougher mortgage qualification rules and returning to the market. With new listings slow to come onto the market, prices rose in July as demand outpaced supply. Looking forward, larger price increases may be coming for the Greater Toronto Area because the region continues to have an insufficient supply of housing to meet market demand. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Rise in June as Supply Remains Tight

Toronto Home Sales Rise in June as Supply Remains Tight

Toronto home sales jumped again in June, nudging prices higher and narrowing affordable options for buyers. Sales increased 10.4 per cent in June compared to the same month a year earlier. The average selling price in the Greater Toronto Area in June was $832,703 - up 3 per cent compared to June 2018. Looking forward, as the Greater Toronto Area continues to grow, in terms of employment, population and overall diversity, I anticipate that price growth in the housing sector will continue. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Surge In May

Toronto Home Sales Surge In May

Toronto region home prices climbed last month as sales volumes roared ahead by almost 19 per cent compared with the same month last year. Average home prices climbed to $838,540 in May, up 3.6% compared with a year ago. Looking forward, if we continue to see growth in sales outstrip growth in new listings, price growth will accelerate. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Surge In April

Toronto Home Sales Surge In April

Toronto home sales roared ahead in April, climbing almost 17 percent from last year's sluggish sales level. The average sale price for all types of homes climbed 1.9 per cent over last April to $820,148, pushed higher by tighter market conditions. Looking forward, with sales climbing more rapidly than new listings in April this suggests an acceleration in home price growth this year. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Region Home Sales Flat In March

Toronto Region Home Sales Flat In March

Toronto region home sales were flat in March from the same month a year earlier as buyers remained on the sidelines and available inventory fell. The federal government's tougher mortgage stress-test rule is still affecting home buyers' ability to qualify for a mortgage, and is continuing to act as a drag on sales. Looking forward, I anticipate that sales for the balance of 2019 will closely follow 2018 sales levels and sale prices will continue to move moderately higher. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Home Prices Rise In February

Home Prices Rise In February

The average sale price for all types of homes in the Greater Toronto Area in February rose 1.6 per cent year-over-year to an average of $780,397. Home sales fell by 2.4 per cent in February compared with the same month last year. Looking forward, temperatures need to rise for the market to shake off the February blahs. When this happens sellers and buyers will return. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Area Home Prices Predicted To Rise 4 Percent This Year

Toronto Area Home Prices Predicted To Rise 4 Percent This Year

January home sales increased slightly compared to January 2018. Many traditional housing market drivers remain in place to support improved sales in 2019 - a growing population, low unemployment and lower mortgage rates compared to 2018. Looking forward, the average selling price is forecasted to increase 4.2% this year across all housing categories to $820,000. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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Toronto Home Sales Take Hit In 2018

Toronto Home Sales Take Hit In 2018

The number of homes sold in Toronto and the surrounding area fell in 2018, along with the number of new listings, as homebuyers and sellers adjusted to a new reality of higher borrowing costs and stricter mortgage rules. It is important to note that market conditions were improved in the second half of the year, both from a sales and pricing standpoint. Looking forward, I expect that the home price growth we saw in the second half of the year for all home types will continue with price growth the strongest in the condominium market. When you are ready for my help, I'm here! I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com […]

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