November finished strong but in a fractured fashion. To use a cliché, not all markets were equal in November. The City of Toronto (area code 416) continues to strengthen, following the market declines after the province’s announcement of the Ontario Fair Market Plan and in particular, a 15 percent tax imposed on foreign buyers in late April. In the City of
The new year started strong, producing 4,672 residential re-sales, an increase of more than 8 percent compared to the 4,318 sales the market produced during January 2015. The big story early in the year is not sales, but the lack of inventory. In January only 8,957 new properties became available for sale in the greater Toronto area. This compares poorly
As forecast in the June Market Update, July’s numbers declined compared to June. This is a common seasonal adjustment. Having said that, 9,880 residential property sales were reported by the Toronto Real Estate Board, a record for the month of July. Last July 9,152 properties were reported sold, an increase of 8 percent. It should be noted that July’s market results
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