Monday, September 4, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
The Toronto Regional Real Estate Board (TRREB) reported that the GTA housing market continued its adjustment to higher borrowing costs in September 2022. Sales for the month reached 5,038, but were down by 44% compared to September 2021. New listings were also down on a year-over-year basis by 16.7% to 11,237. This is the lowest number of new listings reported for September since 2002.
The average selling price remained fairly steady, up slightly from last month to $1,086,762 and down 4.3% from September’s 2021 figure of $1,135,027.
“Hovering just below $1.1 million, the average selling price may have found some support during the last couple months of summer,” says TRREB Chief Market Analyst Jason Mercer. “With new listings down quite substantially year-over-year and well-below historic norms, some home buy. ...
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Monday, July 31, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the interest rate hikes started this spring, data from the Toronto Regional Real Estate Board (TRREB) shows.
TRREB President Kevin Crigger says that while increased borrowing costs represent “a short-term shock to the housing market,” he anticipates that demand for housing will “pick up strongly” in the medium- to long-term.
“This is because a huge share of record immigration will be pointed at the GTA and the Greater Golden Horseshoe in the coming years, and all of these people will require a place to live, with the majority looking to buy,” he says. “The long-term pro. ...
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Monday, July 17, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
Trinity Real Estate Consultants
647-697-6743
matthewdanieltamburello@gmail.com
While decorating your home for the holidays can be a fun, family affair, prepping your home in practical ways for the impending colder weather is a necessity you don’t want to skip. Follow these 7 steps to get your home winter-ready!
Clean Your Gutters
Prevent roof damage by cleaning your gutters before the first snowfall. You can hire a professional service or do it yourself. Gutter guards are also a great long-term solution. They keep leaves and debris out of the gutters, but still allow water to flow through.
Turn Off & Drain Outdoor Water Lines and Faucets
If there is water anywhere outside your home in the winter, it can freeze. If water inside your pipes freezes, it can cause significant damage to your pipes, or they can burst inside your walls, causing extensive damage to your home. To prevent this from happening, runn. ...
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Monday, July 10, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
The Greater Toronto Area (GTA) real estate market began 2023 as it ended 2022, with similar sales and average selling price numbers in January compared to December. Despite this, both sales and prices were down on a year-over-year basis, reflecting the impact of higher borrowing costs on affordability.
According to the Toronto Regional Real Estate Board (TRREB), there were 3,100 sales recorded in January 2023, which was in line with the December result but a 44.6% decrease from January 2022. The average selling price for January 2023 was $1,038,668, which was slightly lower than the December result and down 16.4% from the January 2022 average price.
TRREB President Paul Baron expressed confidence in the market, stating that the Bank of Canada‘s recent announcement of a hold on interest rate hikes, coupled with record population growth and a tight labor market, w. ...
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Monday, June 19, 2023 / by Matthew Daniel Tamburello
Courtesy of:
Matthew Daniel Tamburello
Team Leader & Broker
647-697-6743
matthew.thetamburelloteam@gmail.com
The Greater Toronto Area (GTA) housing market has seen a surge in buyer competition, as March 2023 statistics show a tightening market. Consequently, the average sale price exceeded the average list price for the first time since May 2022.
Toronto Regional Real Estate Board (TRREB) President Paul Baron confirmed this growing competition in various GTA neighbourhoods. According to consumer polls, the demand for ownership housing will likely grow this year. Furthermore, first-time buyers are expected to lead the recovery as average rents approach the cost of property ownership.
Sales and Listings Overview
In March 2023, GTA REALTORS® reported 6,896 sales through TRREB’s MLS® System, a 36.5% decline compared to March 2022. However, sales grew on a month-over-month basis in both actual and seasonally adjusted figures. New listings also decreased year-over-y. ...
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