Black Friday has surely made its way north of the border and line-ups will be forming outside stores in Toronto. More so this year because of the postal strike and parcels not arriving before Christmas. We have now entered what is known as the “Holiday Season” and the real estate market will reflect the change. There are a few different factors that may affect our market. One of them being the stock market with some steep losses this week and the global economy showing signs of weakening. With that being said, the freehold market saw some modest gains and the condo market continues to defy us all…
Read moreMARKET UPDATE FOR THE WEEK ENDING NOVEMBER 9TH, 2018
It’s that time of year again. Santa Claus is coming to town and if that doesn’t signal the start of winter then this week’s little blast of cold sure did. Despite the temperature drop there is no sign that the real estate market is slipping into hibernation just yet. A shortage of listings has been a problem for most of the year and we know buyers are frustrated but we encourage them all to keep looking. If you are thinking of putting your buying intentions on hold you might not like it when interest rates go up again in the New Year, more than once…
Read moreMARKET UPDATE FOR THE WEEK ENDING NOVEMBER 2ND, 2018
The Toronto Real Estate Board just released the market stats for October and we are seeing year-over-year increases in home sales and average sale prices. The average selling price for the GTA in October was $807,340 up by 3.5% compared to $780,400 in October 2017. For the City of Toronto the average sale price for October was $869,870 compared to $819,124 in October 2017 up by 6.3%!…
Read moreBosley Market Snapshot - October 2018
MARKET UPDATE FOR THE WEEK ENDING OCTOBER 26TH, 2018
Inquiring minds want to know if rising interest rates are having an impact on housing activity in Toronto? Frankly we are as curious as the next guy but as it stands now, we have not seen much change. Overall activity in the 416 continues to be strong as demonstrated by multiple offers and rising prices across every category of shelter. Generally, mortgage rates tend to rise when the economy is growing, the job market is healthy and wages are rising. With two months left in 2018 there is still plenty of transactions on the horizon and our research shows there are plenty of buyers waiting for the perfect home…
Read moreMARKET UPDATE FOR THE WEEK ENDING OCTOBER 19TH, 2018
Come November, we're firmly into fall but lately the real estate market feels like it's spring out there! Several crazy home sales happened last week including one in our office that had 26 offers and sold for 56% above the list price. One just has to look at the number of multiple offers to know that the demand is high. What's causing this excitement? Simple math ... pent up demand plus a lack of inventory. Also, the news of an interest rate hike, the third one this year has got some buyers motivated to get out there before they get shut out of the market…..
Read moreMARKET UPDATE FOR THE WEEK ENDING OCTOBER 12TH, 2018
As we find ourselves midway thru October, it's going to quickly become primetime to view the changing landscape and watch the leaves change right here in our own backyard. The 7 best places in Toronto to see this beauty are: High Park, Toronto Islands, Humber River, Beach Boardwalk, Trinity Bellwoods, Evergreen Brickworks, and Mt. Pleasant Cemetery, located within some of the best neighbourhoods in the city. As we wade into the final days of the election, we have seen a slowdown in sales both in the freehold and condo markets…..
Read moreMARKET UPDATE FOR THE WEEK ENDING DECEMBER 1ST, 2017
As the calendar flips for the last time this year and we are three weeks shy of Christmas, it feels like we are all gearing up for the holiday festivities. The offices are a little slower, listings are dropping off and the buyers are taking a break. The November stats were released from The Toronto Real Estate Board and for the City of Toronto the average price was up 2 percent to $802,220 from November 2016. We saw a sizable number of new listings (14,349) for the entire GTA, up by 37 percent compared to November 2016. This boost to home ownership could be because of the upcoming changes to mortgage guidelines, which come into effect in January. On a year-to-year basis, the average selling price was up by 13.4 percent compared to same period last year. All the negative headlines are for the entire GTA, but conditions continue to be stronger for the City of Toronto......
Read moreMARKET UPDATE FOR THE WEEK ENDING NOVEMBER 17TH, 2017
Over the years we have watched the Black Friday phenomena move north of the border and now it is not unusual to see line-ups outside big box stores in Toronto. As always the in demand items are electronics, televisions, clothes and… Real Estate? While a few weeks back we might have thought we were headed for an early end to the Fall market, that definitely does not seem to be the case as we get into the second half of November. Don’t get us wrong, these are not door crasher numbers but sales in the Freehold category increased and the condo market continues to defy every new bit of legislation the government can throw at it.......
Read moreMARKET UPDATE FOR THE WEEK ENDING NOVEMBER 3RD, 2017
In the olden days of yore we used to judge the changing of the seasons by stepping outside and observing the natural environment. Cooler evenings and the kaleidoscope of colours would indicate the onset of Fall and a powdering of snow was a sure indicator that winter was upon us. The weather seems a less reliable indicator these days but not to worry the world of marketing and retail sales will keep us focused on the changing seasons. If you haven’t left your house since Halloween you may not have noticed that it is suddenly Christmas everywhere you look. Unfortunately, the real estate market does not flip seasons as easily as your local retailer and the indicators we look for are harder to spot. The fall market is influenced by many things including believe it or not, when we get our first snow fall. Snow and bad weather not only indicate the approaching holidays when nobody really wants strangers tromping through their houses in Uggs and Blundstones and understandably the typical Seller and Buyer start to consider things other than real estate (I know we hardly believe it ourselves).....
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