TORONTO MARKET REPORT

Demand for housing remained very strong from a historic perspective in January 2022, while listings remained in short supply. This resulted in tight market conditions and very strong year-over-year price growth.


January 2022 had 5,636 sales reported through the TREBB MLS System, which was down by 18.2 percent compared to January 2021. Though sales were down substantially when compared to last year, the January 2022 result was the second best in history for the month.

New listings were down to the lowest level in more than two decades. There were just 4,140 active listings in January, a decrease of 44% from the year earlier.

The continuation of the tight market conditions in Toronto resulted in a 33.3 percent…

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OTTAWA MARKET REPORT


January’s sales were very strong for a traditionally slower month, as OREB Members sold 936 residential properties this past month, a decrease of 3 percent compared with 963 in January 2021. There were 661 sales of residential properties, which is down just 2 percent from 2021. Sale prices have continued to steadily increase with the lack of inventory.

The average sale price for condominiums was $447,943 for an 18 Percent increase from last year. The average sale price was up 14 percent from last year for residential property types at $771,739.

If you are thinking about selling your home, there has never been a better time. Contact me today and let’s talk.

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TORONTO MARKET REPORT

Home sales in the Greater Toronto Area (GTA) were down 15.7 percent from December 2020, while new listings were down by 11.9 percent with a total of 5,174. The price of detached homes was up 15 percent year-over-year with an average price of $1,698,178. The biggest increase year-over year was in the condo category with an average price of $730,792.


One sales trend that stood out in 2021 compared to 2020 was the resurgence in demand for homes within the City of Toronto. Overall sales in the “416” area code were up by a substantially greater annual rate (+36.8 percent) compared to sales growth for the surrounding Greater Toronto Area (GTA) suburbs combined (+23.6 per cent). The marked recovery in the condominium apartment…

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OTTAWA MARKET REPORT

OREB Members sold 862 residential properties in December through the Board’s Multiple Listing Service system (MLS), compared to 997 in December 2020, a decrease of 14 percent. Bungalows saw a 17 percent increase in price year-over-year with an average sales price of $669,750, while two-storey homes averaged $736,137 - a 16.8% increase year-over-year.


Six hundred new listings entered the housing stock in December, a 58 percent decrease from November. December’s resale market performed as expected, with a marked decrease in sales from November.

OREB members assisted clients with renting 4,8133 properties since the beginning of the year, compared to 3,364 in 2020.

Read more about the Ottawa December 2021 Market Report…

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Real Estate Advice for Foreign Buyers

The real estate market in Canada has drawn international attention for years, as a market in which foreign investors can make strong returns and receive solid rental income.

Canada is also a popular country for immigration, and many immigrants plan to purchase their future home in Canada. However, before investing in Canadian real estate, it is important to look at what you need to know as a foreign buyer.

Residency Statuses

Citizens, are those who are either granted citizenship or are naturalized.

Permanent Residents, are people who have been granted permission to live and work in Canada permanently and have access to similar social benefits as citizens, however, they may not hold a Canadian…

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Toronto Market Report

Home sales in the Greater Toronto Area (GTA) reached a new record for the month of November. The average selling price also reached a new all-time high at $1,190,300 across all home types. New listings were down substantially compared to last year for all market segments, further highlighting the supply issue being seen all across the GTA.

The average sale price year-over-year saw the biggest increase in detached homes which were up 22.3 percent from last November, with an average sales price of $1,807,983.

GTA Realtors reported 9,017 sales through TREBB in November 2021, which is up 3.3 percent compared to November 2020.

Read more about the Toronto November 2021 Market Report here: …

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Ottawa Market Report

OREB Members sold 1,459 residential properties in November through the Board’s MLS system, compared with 1,605 in November 2020, a decrease of 9 percent. There was also a decrease of 10 percent in the number of properties sold year-over-year.


The residential-property class was up 19 percent from last November, with an average price of $635,975. The average sale price for a bungalow property in November was up 21 percent from last November with an average price of $676,959.

Lack of supply continues to put pressure on prices, with inventory remaining at a one-month supply for residential properties. OREB members assisted clients with renting 4,458 properties since the beginning of the year compared to 3,120 at this time…

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Multifamily withstands pandemic better than most property types

The multifamily real estate sector has remained relatively stable thanks to low vacancy rates, and low interest rates that encourage investment, along with the steady capital and asset appreciation that these properties offer to investors.

Multifamily Market Factors

Strong market fundamentals make multifamily real estate in Ontario a smart investment opportunity. During the pandemic, rent collections remained around 97 percent, providing a steady income.

New Construction also does not fall under rent control; therefore, landlords are able to adjust the rent if necessary.

Emerging Multifamily Trends

In densely populated urban areas such as Toronto, land is at a premium,…

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Toronto Market Report

Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, new listings were down by one third compared to October 2020. The average sales price year-over-year saw the biggest increase in condos which were up 33.1 percent from last October, with an average sales price of $889,294.


GTA Realtors reported 9,783 sales through TREBB in October 2021, which is down 6.9 percent compared to October 2020.

Read more about the Toronto October 2021 Market Report here: https://trreb.ca/files/news_releases/news2021/nr_market_watch_1021.pdf

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Ottawa Market Report

OREB Members sold 1,677 residential properties in October through the Board’s MLS system, compared with 2,132 in October 2020. There was a decrease of 21 percent in the number of properties sold year-over-year.

The residential-property class was up 19 percent from last October, with an average price of $716,378. The average sale price for a condominium-class property in October was up 10 percent from last October with an average price of $404,760.

Lack of supply continues to put pressure on prices with inventory remaining at a one-month supply for residential properties.

OREB members assisted clients with renting 4,012 properties since the beginning of the year compared to 2,829 at this time last year.

Read more…

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