Toronto Real Estate Market News
Toronto’s Luxury Land Transfer Tax Takes Effect on January 1, 2024
In September 2023, the City Council of Toronto approved imposing a Luxury Land Transfer Tax, starting January 1, 2024. The City mentioned that the new Land Transfer Tax provisions will help alleviate the City’s existing financial difficulties...
November 2023 Toronto Resale Market Statistics
High borrowing costs and uncertain economic conditions continued to weigh on Toronto 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 mar...
Canadian and Toronto Luxury Real Estate Fall 2023 Report
As Canada's housing market continued to wrestle with the challenges of elevated mortgage rates, uneven economic performance and intense geopolitical turbulence, reviving luxury single family home sales in the third quarter of the year revealed ...
October 2023 Toronto Resale Home Report
Lack of affordability and uncertainty remained issues for many would-be home buyers in Toronto in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels. Reco...
September 2023 Toronto Luxury Home Resale Report
The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Toronto luxury home sales in September. However, despite the market being better-suppli...
Toronto Luxury Home August Resale Statistics Released
Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022. The average selling price remained v...
Interest Rate Hikes Off The Table With Weak Q2 GDP Growth In Canada
Here is some positive news in the mortgage world that will be well received (especially for the variable rate mortgage holders). Rate Hikes Are Definitely Off The Table The Canadian economy weakened surprisingly more in th...
July 2023 Toronto Luxury Resale Market Statistics Released
Toronto luxury home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings ...