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 a...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

By: JP Homes

Monthly Update September 2020

Tags: Real Estate, Home

Dear Friend, As we enter the Labor Day weekend, restaurants have opened up sidewalk patios, (and are busy), airplanes are flying, daycares are open, and parents and children are getting ready for the resumption of school! Yes, we have new protocols, we are all wearing masks, washing our hands more frequently, social distancing, but a new state of normalcy has returned.   This is also reflec...Read More

By: JP Homes

Monthly Update August 2020

Tags: Real Estate, Home

All of the Covid based pent up demand for homes exploded in July as 11,081 homes sold in Toronto, a 29.5 % increase over July 2019 (8,555 solds). The average home price for the year as of July 31 was $903,617, a 10.3% increase since December 31 2019. The number of homes available for sale (15,018) was down 16% compared to July 2019, and that represents about 1 month of inventory. In other words, t...Read More

By: JP Homes

Monthly Update July 2020

Tags: Real Estate, Home

Working throughout June, one could feel that the market was extremely active with multiple offers and activity at a high rate. But we were all quite surprised when the final numbers came in from the Toronto Real Estate Board showing that June’s sales (8,701) were only down 1.4% from June of 2020 (8,826). We knew that there has been a huge pent-up demand for homes and that demand exploded in ...Read More

By: JP Homes

Monthly Update June 2020

Tags: Real Estate, Home

The Toronto real estate market experienced a very pleasant but unexpected jump in sales last month. Toronto real estate board members reported the sale of 4,606 homes which was only down 53.7% compared to the month before where the number of sales were down 67% from April 2019.   The biggest surprise came in the form of Toronto prices. Despite headline-grabbing negativity about Toronto prices...Read More