Real Estate Blog

Market Update Alert! 🏡📊

Wed, 03 Jun 2026 17:09:04 GMT

The GTA housing market tightened in May, with home sales rising 6.3% year over year while new listings fell 18.9%. As inventory continues to be absorbed, competition among buyers is increasing in many neighbourhoods. 📈🏘️

The average selling price came in at $1,069,700, down 4.6% from last year, while the MLS® HPI benchmark declined 6.7%. 💼🔍

Compared to April, sales increased 10% and new listings declined 2.1%, signalling continued tightening market conditions across the GTA. 📊

Curious what this means for your next move? Reach out to @boltonandclements for insights tailored to your real estate goals. 🏡✨

Unlock the latest insights on the GTA real estate market! 📊🏡 Watch our May 2026 Market Report reel on Instagram and see how the latest trends could impact your next move. 📈✨

Market Update Alert! 🏡📊

Wed, 06 May 2026 15:35:34 GMT

The GTA housing market gained traction in April, with home sales rising 7% year over year while new listings declined 9.3%, pointing to tightening conditions as the spring market unfolds. 📈🏘️

Despite this shift, buyers are still benefiting from choice and negotiating power. The average selling price came in at $1,051,969, down 4.9% year over year, while the MLS® HPI benchmark declined 6.6%. 💼🔍

On a month over month basis, both sales and listings increased compared to March, with sales rising at a faster pace. This could signal growing competition in certain neighbourhoods as we move deeper into the spring market. 📊

Unlock the latest insights on the GTA real estate market! 📊 Watch our April 2026 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Tue, 07 Apr 2026 15:59:34 GMT

The GTA housing market picked up momentum in March, with sales up 1.7% year over year while new listings dropped 16.7%, tightening overall market conditions heading into spring. 📈🏘️

With fewer listings available, buyers saw some relief on pricing. The average selling price came in at $1,017,796, down 6.7% year over year, while the MLS® HPI benchmark dipped 7.4%. 💼🔍

On a month over month basis, both sales and listings increased compared to February, with sales rising at a slightly faster pace. Prices remained relatively stable, showing signs of a more balanced market. 📊

Unlock the latest insights on the GTA real estate market! 📊 Watch our March 2026 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Fri, 06 Mar 2026 15:04:23 GMT

The GTA housing market continued to adjust in February 2026, with sales and listings both trending lower compared to last year. REALTORS® reported 3,868 home sales through TRREB’s MLS® System, down 6.3% year over year, while new listings came in at 10,705, a sharper 17.7% decline compared to February 2025. 📉🏘️

Home values also saw year over year adjustments. The MLS® Home Price Index Composite benchmark was down 7.9%, while the average selling price came in at $1,008,968, a 7.1% decrease compared to last February. 💼🔍

On a month over month basis, both sales and new listings were down compared to January, with listings declining at a greater rate. Benchmark and average prices also edged lower as the market continues to find balance. 📊

Unlock the latest insights on the GTA real estate market! 📊 Watch our February 2026 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Thu, 05 Feb 2026 14:22:25 GMT

The GTA housing market kicked off 2026 with quieter activity, as buyer caution continued into the new year. January saw 3,082 home sales, down 19.3% year-over-year, while new listings totaled 10,774, a 13.3% decline compared to January 2025. 📉🏘️

Home values continued to adjust. The MLS® Home Price Index Composite benchmark was down 8.0% year-over-year, while the average selling price came in at $973,289, a 6.5% decrease from last January. 💼🔍

On a month-over-month basis, sales dipped compared to December 2025, while new listings edged up slightly. Both benchmark and average prices trended lower, reflecting a market still finding its footing early in the year. 📈📉

Unlock the latest insights on the GTA real estate market! 📊 Watch our January 2026 Market Report reel on Instagram and see how the trends affect you. 🏡

Ontario Fire Code Updates: What Landlords and Property Owners Should Know

Thu, 08 Jan 2026 11:25:07 GMT

Fire safety plays a critical role in protecting tenants, properties, and investments. Recent Ontario Fire Code updates reinforce safety standards for residential buildings and clarify ongoing responsibilities for landlords and property owners.

Bill 60: What Landlords and Property Owners Should Know

Thu, 08 Jan 2026 11:12:33 GMT

Ontario’s housing and regulatory landscape has changed with the passage of Bill 60 — the Fighting Delays, Building Faster Act, 2025. Originally introduced as a broad omnibus bill, Bill 60 makes significant changes to a range of provincial laws, including key amendments to the Residential Tenancies Act, 2006 (RTA) that landlords and property owners should understand.

What Is Bill 60?

Bill 60 is provincial legislation that amends many different statutes to speed up government processes, including housing-related rules, planning approvals, transit and infrastructure delivery, and utility governance. As part of this broad act, Schedule 12 makes changes to the Residential Tenancies Act — which governs landlord–tenant relations in Ontario.

Key Residential Tenancies Act Changes in Bill 60

Here are the changes affecting landlords and tenants that matter most:

1. Standardized Termination Forms 📄

Any notice to terminate a tenancy must now use a Board-approved form, unless a specific prescribed form exists. This helps ensure clarity and consistency for both landlords and tenants.

2. Shorter Eviction Timelines for Non-Payment of Rent 📆

Under Bill 60, when a tenant fails to pay rent, a landlord’s notice of termination (N4) can now take effect as soon as 7 days after the notice is given — shortening the period landlords wait before applying for eviction orders.

3. Tenant Must Pay Arrears Before Raising Issues 💰

At a rent arrears hearing at the Landlord and Tenant Board, tenants must now pay at least 50% of the rent arrears claimed in the application before they can raise their own issues (like maintenance concerns) at that hearing, unless the regulations specify otherwise.

4. Changes to “Landlord’s Own Use” Evictions (N12 Notices) 🏠

Bill 60 modifies requirements under the RTA for evictions for the landlord’s own personal use:

If sufficient notice is given and certain timing criteria are met, a landlord may no longer need to offer one month’s compensation or another rental unit to a tenant being evicted for personal use — provided at least 120 days’ notice is given and timing rules are followed.

This change reduces financial obligations previously required in those situations.

5. Appeals and LTB Reviews Are More Restrictive 📉

The RTA changes limit the ability of the Landlord and Tenant Board to review its own orders. The deadline to request reviews is also shortened (to 15 days in many cases), with fewer grounds for extending that deadline — meaning decisions can become more final more quickly.

6. Regulatory Clarifications 📊

Bill 60 lets the government create regulations that shape how terms like “persistent failure to pay rent” are defined, and how various thresholds and requirements at the Board are applied.

What This Means for Landlords

Whether you manage one unit or a large portfolio, the changes under Bill 60 could affect you:

Faster eviction timelines can reduce the time and cost associated with non-payment cases.
Clear notice forms help reduce dismissal risk based on technical errors.
Pre-payment requirements shift some responsibility to tenants before hearings, potentially reducing delay tactics.
Less compensation in certain owner-use evictions could lower costs — but check the exact criteria carefully.

Because these changes involve legal interpretations and procedural rules, it’s wise to consult legal counsel or ownership advisors to apply them correctly to your situation.

Why Staying Informed Matters

Bill 60 is not just about rental housing — it alters parts of Ontario law with widespread impact. Even within tenancy law, the details matter, and misunderstandings can be costly.

Taking time to understand the exact legislative changes, LTB process impacts, and how they interact with your leasing practices helps you remain compliant and protect your investments.

Need Help Understanding How Bill 60 Applies to You?

Every property situation is different. If you’re unsure how Bill 60 may affect your rental property or investment strategy, professional guidance can make a real difference.

📩 Contact us directly or DM @boltonandclements to discuss your specific situation.
🔗 Be sure to follow our blog for continued updates on housing regulations and market insights.

Market Update Alert! 🏡📊

Wed, 07 Jan 2026 17:31:44 GMT

The GTA housing market closed out 2025 with softer activity, as economic uncertainty continued to weigh on buyer confidence. Annual home sales declined 11.2% year-over-year to 62,433, while new listings rose 10.1%, giving buyers more choice and increased negotiating power. 📉🏘️

In December 2025, 3,697 homes were sold, down 8.9% compared to December 2024. The average selling price was $1,006,735, a 5.1% year-over-year decrease. The MLS® Home Price Index Composite benchmark also declined 6.3%, reflecting continued price adjustments across the market. 💼🔍

On a month-over-month basis, sales edged slightly lower, while new listings increased and prices showed signs of stabilization toward year-end. 📈📉

Unlock the latest insights on the GTA real estate market! 📊 Watch our December 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Wed, 24 Dec 2025 14:12:45 GMT

GTA home sales totaled 5,010 in November, marking a 15.8% drop year-over-year as many buyers stayed on the sidelines waiting for clearer economic signals. 📉
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New listings reached 11,134, down 4% from last November, with both sales and listings also dipping slightly compared to October’s seasonally adjusted numbers. 📋🏘️
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The average selling price came in at $1,039,458, down 6.4% year-over-year, while the MLS® HPI Composite slipped 5.8% annually and held close to October levels. 💰📊
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💬 Despite softer numbers, stability in month-over-month pricing suggests the market is finding its footing — creating opportunities for buyers to secure value while conditions remain negotiable.

Unlock the latest insights on the GTA real estate market! 📊 Watch our November 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Thu, 06 Nov 2025 17:55:13 GMT

Home sales across the GTA hit 6,138 in October, down 9.5% year-over-year, as buyers continued to take their time in a more negotiable market. 🏡📉
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New listings rose 2.7% year-over-year to 16,069, giving buyers a wider selection — though both sales and listings slipped slightly from September levels. 📋🏘️
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The average selling price came in at $1,054,372, down 7.2% from last October, while the MLS® HPI Composite eased 5% year-over-year and stayed essentially flat month-over-month. 💰📊
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💬 Lower mortgage rates are starting to ease pressure, but the fall market remains firmly buyer-leaning — a window for well-prepared purchasers to negotiate strong terms before inventory tightens again.
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📩 DM us @boltonandclements for your personalized market game plan — or book a quick strategy call today.

Unlock the latest insights on the GTA real estate market! 📊 Watch our October 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Mon, 06 Oct 2025 13:33:04 GMT

GTA home sales reached 5,592 in September — up 8.5% compared to last year, as lower monthly mortgage payments brought more buyers back into the market. 🏠⬆️⁣
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New listings also saw a modest 4% increase year-over-year, totaling 19,260 — keeping plenty of options available for buyers. However, with fewer new listings month-over-month, some areas may be tightening. 📉🏘️⁣
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The average selling price came in at $1,059,377, down 4.7% year-over-year. Prices remained relatively stable from August, nudging up just 0.2%. The MLS® HPI benchmark also declined 5.5% year-over-year. 💰📉⁣

Curious how these numbers impact your buying or selling plans? DM us @boltonandclements for your personalized update! 📩💼

Unlock the latest insights on the GTA real estate market! 📊 Watch our September 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Mon, 08 Sep 2025 15:45:31 GMT

August 2025 GTA home sales totaled 5,211, up 2.3% from last year. Meanwhile, new listings jumped 9.4% to 14,038, giving buyers more options across the market. 📈🏠

With increased supply, prices continued to adjust— the average selling price came in at $1,022,143, down 5.2% year-over-year. On a month-over-month basis, both prices and the MLS® HPI held steady, pointing to a balanced late-summer market. 🏘️📉

Curious how these numbers impact your buying or selling plans? DM us @boltonandclements for your personalized update! 📩💼

Unlock the latest insights on the GTA real estate market! 📊 Watch our July 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Market Update Alert! 🏡📊

Thu, 07 Aug 2025 16:04:51 GMT

July 2025 marked the strongest GTA home sales for the month since 2021! With 6,100 homes sold—up 10.9% from last year—sales growth outpaced new listings, leading to modest market tightening. 📈🏠

New listings reached 17,613, rising 5.7% year-over-year. While the average selling price dipped 5.5% to $1,051,719, month-over-month prices remained steady, signaling a stable summer market. 🏘️📉

Curious what this means for your real estate plans? DM us @boltonandclements for expert insights! 📬💼

Unlock the latest insights on the GTA real estate market! 📊 Watch our July 2025 Market Report reel on Instagram and see how the trends affect you. 🏡📉

📢 Market Update Alert! 🏡📉

Mon, 07 Jul 2025 16:51:36 GMT

Housing affordability in the GTA continued to improve this June, with average prices and borrowing costs lower than last year. But despite some month-over-month momentum, many buyers are still sitting on the sidelines due to economic uncertainty. 💭💸

GTA REALTORS® reported 6,243 home sales — down 2.4% from June 2024 — while new listings increased 7.7% year-over-year to 19,839. 📊🏠

On a seasonally adjusted basis, sales rose month-over-month, while new listings declined — a trend that points to tighter market conditions heading into summer. 🔄🌞

The average selling price came in at $1,101,691, down 5.4% from last year, while the MLS® HPI Composite benchmark dropped 5.5%. 📉

Curious what this means for your real estate plans? DM us @boltonandclements for expert insights! 📬💼

Unlock the latest insights on the GTA real estate market! 📊 Watch our June 2025 Market Report reel on Instagram and see how the trends affect you. 🏡📉

Market Update Alert! 🏡📊

Tue, 01 Jul 2025 14:13:39 GMT

May 2025 brought improved affordability to the GTA housing market! With sales down and listings up, buyers gained more options and stronger negotiating power. 📉🤝

GTA REALTORS® reported 6,244 home sales — down 13.3% from May 2024 — while new listings rose 14% year-over-year to 21,819. 🏘️📈

The average selling price landed at $1,120,879, down 4% annually, and the MLS® HPI Composite dipped 4.5%. However, both prices and sales edged up month-over-month for the second straight time. 🔄📈

Want to know what this means for your home’s value? DM us @boltonandclements for expert insights! 📩💼

Unlock the latest insights on the GTA real estate market! 📊 Watch our May 2025 Market Report reel on Instagram and see how the trends affect you. 🏡📉

Market Update Alert! 🏡

Thu, 08 May 2025 15:41:41 GMT

April 2025 followed seasonal trends with more activity than March—but home sales in the GTA are still trailing behind last year. 📆

GTA REALTORS® reported 5,601 sales—down 23.3% from April 2024—as many buyers continue to wait for rate cuts and more economic certainty. 🏦

New listings rose 8.1% year-over-year to 18,836, giving buyers more to choose from. The average selling price dipped 4.1% to $1,107,463, while the MLS® HPI Composite dropped 5.4%. 💸

Are you wondering what this means for the value of your home? DM us @boltonandclements for expert advice on your specific situation! 🏡🔍

Watch our April 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Market Update Alert! 🏡📊

Mon, 07 Apr 2025 11:22:07 GMT

March 2025 saw a more affordable GTA housing market! With borrowing costs and home prices easing, homeownership became more accessible for buyers. 📉🏠

GTA REALTORS® reported 5,011 home sales—a 23.1% drop from last year—while new listings surged 28.6%, giving buyers more options. The average selling price landed at $1,093,254, down 2% year-over-year, while the MLS® HPI Composite dipped 3.8%.

With more inventory and shifting conditions, buyers and sellers have new opportunities in today’s market. 💼📊

Are you wondering what this means for the value of your home? DM us @boltonandclements for expert advice on your specific situation! 🏡🔍

Watch our March 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Market Update Alert! 🏡📊

Thu, 06 Mar 2025 15:52:52 GMT

February 2025 brought more choices for buyers in the GTA market! While 4,037 homes sold—down 27.4% year-over-year—new listings rose 5.4%, giving buyers added negotiating power. 📈🏘️

The average home price landed at $1,084,547, a 2.2% dip from last year, while the MLS® HPI Composite eased 1.8%. With steady inventory, buyers and sellers are finding opportunities in a shifting market. 🔍💼

Are you wondering what this means for the value of your home? DM us @boltonandclements for expert advice on your specific situation! 🏡🔍

Watch our February 2025 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Market Update Alert! 🏡📈

Thu, 06 Feb 2025 17:27:02 GMT

TRREB’s 2025 Market Outlook predicts 76,000 home sales, a 12.4% increase over 2024! Lower borrowing costs and strong supply are expected to boost buyer activity. 📊🏘️

January 2025 saw 3,847 home sales, down 7.9% year-over-year, while new listings surged by 48.6%, keeping the market well-supplied. The average selling price rose 1.5% to $1,040,994, with stronger price growth expected for single-family homes. 💼🔍

Are you wondering what this means for the value of your home? DM us @boltonandclements for expert advice on your specific situation! 🏡🔍

Watch our December 2024 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Market Update Alert! 🏡📈

Wed, 04 Dec 2024 20:55:19 GMT

November 2024 saw a significant rise in GTA home sales, up by 40.1% year-over-year with 5,875 homes sold! New listings increased by 6.6%, but tighter market conditions led to average price growth. Buyers benefitted from more affordable conditions thanks to lower borrowing costs. 📊🏘️

The average selling price rose by 2.6% to $1,106,050, while the MLS® Home Price Index Composite benchmark declined by only 1.2%—the smallest drop in months. On a seasonally adjusted basis, sales were up from October, showing continued buyer confidence. 💼🔍

Looking ahead, rental demand is expected to rise alongside population growth. Addressing the LTB backlog could further strengthen the market for both tenants and landlords. 🔑🏙️

Are you wondering what this means for the value of your home? DM us @boltonandclements, and we'll provide you with expert advice on what this means for you specifically. 🏡🔍

Watch our November 2024 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Market Update Alert! 🏡📈

Wed, 06 Nov 2024 21:29:11 GMT

October 2024 brought a notable rise in GTA home sales, up by a strong 44.4% year-over-year with 6,658 homes sold! New listings also rose by 4.3%, though at a slower rate, creating tighter market conditions. 📊🏘️

The average selling price increased slightly to $1,135,215, up 1.1% from October 2023, while the MLS® Home Price Index Composite benchmark was down by 3.3% year-over-year. On a seasonally adjusted basis, both sales and prices showed growth over September, indicating an active and competitive market. 💼🔍

Are you wondering what this means for the value of your home? DM us @boltonandclements, and we'll provide you with expert advice on what this means for you specifically. 🏡🔍

Watch our October 2024 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Market Update Alert! 🏡📈

Thu, 03 Oct 2024 20:05:50 GMT

September 2024 saw a positive shift in the GTA housing market, with home sales up 8.5% year-over-year, totaling 4,996. Buyers are starting to take advantage of more affordable conditions thanks to interest rate cuts and lower home prices. 📊🏘️

New listings surged by 10.5%, providing even more options for buyers. The average selling price was $1,107,291, down just 1% compared to last year, while the MLS® Home Price Index Composite benchmark dropped by 4.6%. On a seasonally adjusted basis, both sales and prices edged up from August, signaling growing buyer activity. 💼🔍

Are you wondering what this means for the value of your home? DM us @boltonandclements, and we'll provide you with expert advice on what this means for you specifically. 🏡🔍

Watch our September 2024 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

Low Cost, High ROI Fall Reno Ideas 💡

Tue, 01 Oct 2024 16:56:00 GMT

Thinking of selling your home in the near(ish) future? With winter just around the corner, October is the perfect time to make smart, quick renovations to increase your home’s buyer appeal & value.

August 2024 Real Estate Market Update

Thu, 05 Sep 2024 20:16:09 GMT

Market Update Alert! 🏡📉

August 2024 saw a slight dip in GTA home sales, down 5.3% compared to last year, with 4,975 homes sold. Despite the decline, new listings were up by 1.5%, keeping the market well-supplied. 📊🏘️

The average selling price edged lower by just 0.8% year-over-year, reaching $1,074,425, while the MLS® Home Price Index Composite benchmark dropped 4.6%. On a seasonally adjusted basis, August sales increased slightly from July, though prices saw a small decline. Buyers are still benefiting from more options and competitive pricing. 💼🔍

Are you wondering what this means for the value of your home? DM us @boltonandclements, and we'll provide you with expert advice on what this means for you specifically. 🏡🔍

Watch our August 2024 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group

July 2024 Real Estate Market Update

Tue, 06 Aug 2024 21:07:33 GMT

Market Update Alert! 🏡📈

July 2024 brought positive trends to the Greater Toronto Area (GTA) housing market. Home sales increased by 3.3% year-over-year, totaling 5,391. Buyers benefited from more choices with new listings surging by 18.5%. 📊🏘️

Greater Toronto Area REALTORS® reported the average selling price at $1,106,617, a slight 0.9% dip from July 2023. The MLS® Home Price Index Composite benchmark decreased by approximately 5% year-over-year. 📉

On a seasonally adjusted monthly basis, both the MLS® HPI Composite and average selling price edged up from June 2024, indicating a resilient market. Buyers continue to enjoy more options and competitive pricing. 💼🔍

Are you wondering what this means for the value of your home? DM us @boltonandclements, and we'll provide you with expert advice on what this means for you specifically. 🏡🔍

Watch our July 2024 Market Report reel on Instagram and see how the trends affect you. 🏡📉

Yours in real estate,

Bolton & Clements Real Estate Group

June 2024 Real Estate Market Update

Fri, 05 Jul 2024 20:15:59 GMT

Market Update Alert! 🏡📊

June 2024 saw a mixed market in the Greater Toronto Area (GTA). Home sales totaled 6,213, reflecting a 16.4% decline compared to last year. Despite a Bank of Canada rate cut, many buyers paused their purchase decisions. 📉🏠

New listings increased by 12.3% year-over-year, providing a well-supplied market. Greater Toronto Area REALTORS® reported the average selling price at $1,162,167, a slight 1.6% dip compared to June 2023. The MLS® Home Price Index Composite benchmark also showed a 4.6% year-over-year decrease. 📉

On a positive note, both the average selling price and the MLS® HPI Composite were up on a seasonally adjusted monthly basis from May 2024, showing signs of market resilience. 📈

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Unlock the latest insights on the GTA real estate market! 📊 Watch our June 2024 Market Report reel on Instagram and see how the trends affect you. 🏡📉

Yours in real estate,

Bolton & Clements Real Estate Group

March 2024 Real Estate Market Update

Thu, 04 Apr 2024 17:38:00 GMT

Market Report Update! ⁣

Despite a lower March 2024 home sales result compared to last year, attributed partly to Good Friday in March versus April last year, the market remained competitive.

Greater Toronto Area REALTORS® reported 6,560 sales, down by 4.5% YoY, but with new listings up by 15%. Despite this, sales were down by 1.1% on a seasonally adjusted monthly basis, with new listings decreasing by 3% compared to February.

The first quarter ended with sales up by 11.2% YoY and new listings up by 18.3%. The MLS® HPI Composite benchmark saw a modest increase of 0.3% YoY, with the average selling price rising by 1.3% to $1,121,615.

On a seasonally-adjusted basis, the MLS® HPI Composite and average selling price increased by 0.2% and 0.7%, respectively, compared to February.

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Yours in real estate,

Bolton & Clements Real Estate Group

February 2024 Real Estate Market Update

Tue, 05 Mar 2024 17:39:00 GMT

Market Report Update! ⁣

Population growth and economic resilience in the Greater Toronto Area continue to drive housing demand.

Despite higher prices, borrowing costs tempered sales compared to 2021 records. In Feb '24, 5,607 GTA home sales surged by 17.9% YoY, with new listings also on the rise, offering increased choice for buyers.

While monthly adjustments show stable prices, sales dipped after two consecutive increases.

The MLS® HPI Composite benchmark nudged up by 0.4%, with an average selling price of $1,108,720. Seasonally-adjusted, both indicators see a modest monthly increase.

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Yours in real estate,

Bolton & Clements Real Estate Group

January 2024 Real Estate Market Update

Wed, 07 Feb 2024 17:39:00 GMT

Market Report Update! ⁣

Home sales soared with lower borrowing costs, and new listings increased, setting the stage for potential spring price growth.

TRREB reported 4,223 sales, up by one-third from 2022, while new listings rose around 6%. Tighter market conditions suggest a dynamic landscape for buyers.

Month-over-month, both sales and listings increased, signaling evolving market dynamics. In January 2024, the MLS® HPI Composite was down <1% YoY, and the average selling price dipped 1% to $1,026,703.

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Yours in real estate,

Bolton & Clements Real Estate Group

December 2023 Real Estate Market Update

Mon, 08 Jan 2024 17:40:00 GMT

Market Report Update! ⁣

In 2023, surging demand, fueled by record immigration, shifted attention to rentals. GTA home sales dipped below 70k due to affordability challenges from high mortgage rates. Despite a spring-summer uptick, new listings declined, raising concerns amid population growth.

The average selling price held at $1,126,604, a 5.4% decline, yet displayed resilience with monthly increases., yet showcasing resilience with monthly increases.

Are you wondering what this means for the value of your home? Dm us @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Yours in real estate,

Bolton & Clements Real Estate Group

November 2023 Real Estate Market Update

Thu, 07 Dec 2023 17:40:00 GMT

November 2023 : Despite a 6% decline in home sales (4,236 transactions), the market saw a 16.5% surge in new listings, providing more options for buyers.

The average selling price held steady at $1,082,179, exhibiting stability year-over-year. Economic uncertainties and borrowing costs continue to influence the market dynamics.

On a positive note, month-over-month sales increased slightly, while new listings saw a 5.5% decrease. The MLS® Home Price Index Composite benchmark, however, showed a 1.7% dip on a seasonally adjusted basis.

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

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Bolton & Clements Real Estate Group

October 2023 Real Estate Market Update

Mon, 06 Nov 2023 17:41:00 GMT

In October 2023, the Greater Toronto Area (GTA) housing market faced ongoing challenges of affordability and uncertainty. Home sales dipped by 5.8% compared to last year, but selling prices continued to rise.

REALTORS® reported 4,646 GTA home sales, reflecting a slowdown compared to October 2022. New listings saw a notable increase from last year but remained modest compared to the 10-year average for October.

Despite the fluctuations, the October 2023 MLS® Home Price Index Composite benchmark and average selling price both showed year-over-year growth, with a 1.4% and 3.5% increase, respectively.

The GTA housing market remains dynamic and resilient, with prices holding strong above the cyclical lows of early 2023. ️

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Bolton & Clements Real Estate Group

September 2023 Real Estate Market Update

Thu, 05 Oct 2023 17:42:00 GMT

GTA home sales faced challenges in September due to high borrowing costs, inflation, and economic uncertainty. Despite increased listings, the average selling price showed resilience, up year-over-year.⁣

REALTORS® reported 4,642 home sales, down 7.1% from September 2022, with ground-oriented homes seeing a more pronounced decline.

New listings surged compared to last year, both year-over-year and month-over-month, offering hope for the market's future.

The MLS® Home Price Index (HPI) Composite benchmark rose 2.4% YoY, while the average selling price increased by 3%, with only a slight month-over-month dip.

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Bolton & Clements Real Estate Group

August 2023 Real Estate Market Update

Thu, 07 Sep 2023 17:43:00 GMT

August 2023 Home Sales in Greater Toronto Area: Lower Sales, Stable Prices

Higher borrowing costs and economic uncertainty led to a 5.2% drop in home sales compared to last year. However, the average selling price remained steady. New listings increased by 16.2%, providing some relief, but year-to-date listings are down.

Interest rate hikes in May led to buyers adjusting offers for higher payments, affecting sales. The MLS® Home Price Index saw a 2.5% YoY increase, while the average price edged up slightly.

The interest rate announcement left the prime rate unchanged which should help improve the economic slowdown and increase real estate activity.

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Bolton & Clements Real Estate Group

July 2023 Real Estate Market Update

Mon, 07 Aug 2023 17:44:00 GMT

In July 2023, the Greater Toronto Area (GTA) witnessed increased home sales, new listings, and home prices compared to July 2022. Market balance improved slightly on a seasonally adjusted basis, with sales tapering while new listings rose.

Home sales remained higher than the previous year, reflecting an adjustment to elevated borrowing costs. However, the sales momentum from earlier in spring waned after the Bank of Canada's rate tightening cycle resumed in June. The scarcity of available listings compounded the impact of higher rates, contributing to a challenging purchasing environment.

GTA REALTORS® reported 5,250 sales through TRREB’s MLS® System in July 2023, a 7.8% increase from July 2022. New listings also rose, up by 11.5% annually. The MLS® Home Price Index Composite benchmark rose by 1.3% year-over-year. The average selling price climbed by 4.2% to $1,118,374 within the same timeframe.

On a seasonally adjusted monthly basis, sales declined for the second consecutive month, while new listings showed an upward trend. The seasonally adjusted average selling price slightly decreased, while the MLS® HPI Composite benchmark rose.

Recent uncertainties surrounding borrowing costs, employment, and the economy affected home sales. Long-term demand for ownership housing remains strong due to significant population growth. Nonetheless, many potential buyers may remain cautious until monetary policy and economic conditions gain clarity.

Despite projected population growth, housing policy misalignment poses challenges. Increased immigration targets have yet to translate into meaningful progress in housing availability. All levels of government must collaborate to address this pressing issue, ensuring a sustainable living environment for a growing population.

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Bolton & Clements Real Estate Group

June 2023 Real Estate Market Update

Fri, 07 Jul 2023 17:44:00 GMT

Prices are on the rise! Greater Toronto Area (GTA) Home Sales Update!

June 2023 showed higher home sales and average prices compared to last year. Seasonally adjusted sales dipped month-over-month, but average selling price and MLS® Home Price Index (HPI) Composite benchmark increased compared to the previous month.

Despite higher borrowing costs, the demand for ownership housing is stronger than last year. However, uncertainty about inflation and interest rates impacted sales. Inventory shortage also affected buyers. ❌

In June 2023, GTA REALTORS® reported 7,481 sales, a 16.5% increase compared to June 2022. Listings were down 3%. ⬆️⬇️

Average selling price rose by 3.2% to $1,182,120. The MLS® HPI Composite benchmark declined by 1.9% on a year-over-year basis, the lowest decline rate in 2023. Overall, the market conditions were tighter in June 2023 compared to the same period last year.

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Yours in real estate,

Bolton & Clements Real Estate Group

May 2023 Real Estate Market Update

Wed, 07 Jun 2023 17:45:00 GMT

The Greater Toronto Area (GTA) housing market saw increased sales in May 2023, but the supply of homes for sale couldn't keep up with the demand.

Sales as a share of new listings rose significantly compared to the previous year, leading to an average selling price of almost $1.2 million. The lack of housing supply has been a longstanding issue, and failure to address it may impact the region's economic development.

GTA REALTORS® reported a 24.7% increase in sales compared to May 2022, while new listings decreased by 18.7%. The demand for ownership housing has risen due to higher borrowing costs and population growth.

The MLS® Home Price Index was down 6.9% year-over-year but up 3.2% on a monthly basis. The average selling price declined 1.2% compared to May 2022 but increased by 3.5% compared to April 2023.

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Bolton & Clements Real Estate Group

April 2023 Real Estate Market Update

Mon, 08 May 2023 17:46:00 GMT

The housing market in the Greater Toronto Area (GTA) is becoming more competitive for buyers. While sales were down slightly from last year, the number of new listings dropped by more than one-third.

This means that buyers are facing more competition for available homes, which has resulted in higher selling prices since the start of the year. According to the President of TRREB, the issue moving forward will not be the demand for homes, but the ability to meet this demand with enough supply, which requires sustained effort from all levels of government. In April 2023, GTA REALTORS® reported 7,531 sales, down 5.2% from the same month last year, but up from March 2023. New listings were down by 38.3% year-over-year.

While the Home Price Index (HPI) Composite Benchmark was down 12.1% year-over-year, the average selling price in the GTA was $1,153,269 in April 2023, which was down from last year but up compared to March. As the demand for homes continues to rise relative to supply, renewed competition between buyers is leading to higher home prices. This is shining a spotlight on the persistent lack of listings and its impact on affordability.

Are you wondering what this means for the value of your home?

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Yours in real estate,

Bolton and Clements Real Estate Group