By: JP Homes

Monthly Update July 2021

Tags: Monthly Update July 2021

Hi, Another great month of sales as Toronto realtors sold 11,106 homes at an average price of $1,089 536. While a lot of statistics are being bandied about such as,” Average price is up 28% over the same time as last year”, these numbers are really not relevant due to the impact of COVID-19 in 2020. The numbers that are important are the following: • The average price in the G...Read More

By: JP Homes

Monthly Update June 2021

Tags: Monthly Update June 2021

Hi, The Toronto real estate market continues to be extremely active as Board members reported the sale of 11,951 listings. While more listings came on the market, 12,252, they were still not enough to change the market from a sellers’ market. The Toronto real estate board has approximately one month supply of listings to sales and that is going to continue moving forward. The tight market c...Read More

By: JP Homes

Monthly Update May 2021

Tags: May,2021

Dear Friend, April’s sales of 13,663 homes set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Despite 20,825 new homes coming on to the market, that was not enough inventory to meet demand, and the average home price increased to$1,064,261, from March’s average price of $1,015,392. Prices increased in all...Read More

By: JP Homes

Monthly Update April 2021

Tags: April,2021

Dear Friend, We certainly live in strange times! Despite the third wave of the pandemic, the demand for homes has never been greater! March saw 15,652 homes sold in the GTA at an average price of $1097,565. The market was active in all sectors with 45.5% of the homes being detached, 28% being condominium apartments and 18% semi-detached or townhomes. As the competition for homes increased due to...Read More

By: JP Homes

Monthly Update March 2021

Tags: Monthly Update February 2021

Dear Friend 2021 record home sale numbers continued in February, as buyers purchased almost 11,000 homes, 52% more than February 2020. Prices increase almost 15% over the same time period, and the average price in the GTA is now $1,015,392 up 9.2% over just 2 months ago! Condominiums in the 416 continued to be a hot commodity as 2,167 sold, 63% more than a year ago. As I pointed out in last month...Read More

By: JP Homes

Monthly Update February 2021

Tags: Real Estate, Home, North York, GTA

Dear Friend, It’s a strong, active real estate market, and the Toronto Real Estate Board’s prediction of a 10% increase in both number and sales seems to be holding up as TREB members reported 4,581 home sales in January 2020 – up by 15.4 % compared to January 2019. The average selling price in January was up by 12.3 %, driven by the detached and condominium apartment segments i...Read More

By: JP Homes

Monthly Update January 2021

Tags: Real Estate, Home

Dear Friend Writer and philosopher George Santayana said, “Those who cannot remember the past are condemned to repeat it." If you want to know why the market has been so active, (prices up 14.3% this year) and what is going to happen to Toronto real estate, let’s look at the recent past.  For the last several years Toronto has experienced a severe housing shortage as immigr...Read More

By: JP Homes

Monthly Update December 2020

Tags: Real Estate, Home

Dear Friend, Another record month of real estate sales for the GTA and Covid 19 had nothing to do with it! There are 5 major factors that are keeping the real estate market at record levels: 1. Ridiculously low interest rates (1.5%) attracting new buyers into the market who can now qualify to buy. 2. A strong economic recovery for many business sectors. 3. Many Canadians ”cash” rich ...Read More

By: JP Homes

Monthly Update November 2020

Tags: Real Estate, Home

Dear Friend   The real estate market continues its upward trend as home sales in the GTA were up again year-over-year for the fourth month in a row! Toronto Real Estate Board members sold 10,563 residential homes  in October,  up 25.1 % compared to 8,445 transactions in October 2019. Sales and new listings reached record levels for the month of October, but sales outstripped new lis...Read More

By: JP Homes

Monthly Update October 2020

Tags: Real Estate, Home

Dear Friend,   A record month for the GTA! 11,083 homes sold in September, 42.3 % more than a year ago. As of the end of September, despite Covid, sales were up 1% compared to the same period last year. Proof of the desire for home ownership in Toronto!   Here are two factors that brought many more buyers into the marketplace. The Canadian government gave out 53 billion dollars in aid to...Read More