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The number of available properties for sale hit record-low levels in December across Canada’s largest housing markets, causing home prices to remain at or near their all-time highs.

A new TRREB report shows 6,031 sales for the month of December - historically strong results, but still down more than 1,000 transactions compared to the record of 7,154 set in December
2020.

The average home price in Toronto reached $1,157,849 for all home types, representing a 24.2% year-over-year increase. Detached homes lead the way at an average price of $1,568,583, followed by semi-detached homes, townhomes, and then condos.

Despite continuing waves of COVID-19, demand for housing ownership sustained a record pace in 2021. Growth in many sectors of the…

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Despite continuing waves of COVID-19, demand for ownership housing sustained a record pace in 2021 both in terms of sales and prices.

According to a new TRREB report, 121,712 homes were sold last year which represents a 28% jump from 2020 and a 7.7% increase compared the previous 2016 high of 113,040.


This increase in listings wasn’t enough to meet the demand for sales and the lack of inventory affected all home types, creating fierce competition among buyers and pushing prices up.


The result was extremely tight market conditions and an all-time high average selling price of $1.1 million — an increase of 17.8% compared to the previous 2020 record of $929,636.


“Looking forward, the only sustainable way to moderate price growth will be…

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When purchasing a home, the buyer has the option of including "conditions" to the offer. This protects the buyer from certain risks associate with making a major purchase. If the conditions are not met, the buyer can back out of the sale without penalty.

Some of the most common conditions that buyers include in their offer are financing, home inspection, and sale of another property.


However, there are situations where the buyer may not include conditions to their offer. In this case, once the offer is signed by both parties the deal is firm and neither the buyer nor the seller can back out. This is what we refer to as an unconditional offer.

An unconditional offer can be beneficial to the buyer under certain circumstances, such as during…

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Are you living in a home with a small bedroom that your wish was bigger? Rather than moving, try some of these bedroom decor tips to make the most of your space.


Under Bed Storage

 

If you are purchasing a bed for a small room, consider a bed frame with storage drawers built into the base or a bed frame that lifts up for hidden storage. This is especially helpful if you lack closest space and want to avoid clutter with bulky dressers. If you already have a bed, you can put bins under the bed for more storage as well.


Floating Wall Shelves

 

An easy way to style your room while reducing clutter is to install floating wall shelves. These shelves can work in many useful ways. For example, they are perfect for displaying and…

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Toronto real estate prices are on the rise again, hitting a new record for the month of November.

According to the latest TRREB statistics, the average home price last month rose to $1.16 million, an increase of 22% compared to the same time last year. Total transactions also marked a new November high with a total of 8,929 sales.

For the sixth consecutive month, new listings dropped on a year-over-year basis — down by 13.2% in November. Real estate board officials have said that homeowners, who might otherwise consider listing their homes, are discouraged by the lack of choice and high prices at a time when the pandemic has pushed many people to seek bigger homes.

  

RELATED: Red Flags When Buying A Home

“For far too long, governments…

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When you are looking to make a move, you often think about the needs of you and your family first. But don’t forget the needs of your pets! Making sure they are well accommodated will benefit everyone in the long run. Here are 3 pet friendly features to look for in your next home: 


A Fenced-in Yard

 

The yard is a pet's playground. It's important to ensure that they can play and run around without getting themselves into danger. A fenced-in yard is definitely a plus for any homeowner with an outdoor-friendly animal. Make sure the fence is an adequate height and that there are no gaps where your pet can fit through. You'll also want to check if the outdoor space will fit your pet's needs. For instance, a large dog may need a more expansive…

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Saving for a down payment often happens way before you decide to buy. The amount you will need depends on your price range, so it’s important to know that ahead of time as well. If you are wondering how the down payment works, and how much money you will need, here is some information to help you get started.


What is a down payment?


A down payment is the amount of money you put towards the purchase of a home. The amount of the down payment is deducted from the overall price of the home, the balance of which is covered by a mortgage loan. The minimum amount you need for your down payment depends on the purchase price of the home.


How is a down payment calculated?

When you’re buying a home, the down payment is calculated as a…

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The fall weather isn’t cooling down the Toronto real estate housing market, as prices climbed back up to record-breaking highs in October.

It was the second-best October on record, with prices continuing to soar as buyers chase the decreasing housing inventory.

According to a new report from TRREB, the average selling price for a detached home last month was more expensive than ever at $1,784,979. Almost 9,800 homes were sold, just shy of the record of 10,503 set October 2020.

RELATED: Fall Housing Market Outlook

Price relief is unlikely for potential homebuyers, though many are still benefiting from lower interest rates that were introduced to ease the impacts of the pandemic on the economy.

“The only sustainable way to address…

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The Canadian housing market is expected to remain strong moving into the fall season.

A new report suggests that housing prices are anticipated to increase by 5% in the remaining months of 2021. Despite COVID uncertainty, Ontario has seen some of the highest average residential price increases across detached homes this year.

Young families are the driving factor for this increase. The demand for bigger lots and more green space has pushed homebuyers into the suburbs to find their dream home. More square footage has also been popular, as work-from-home jobs seem to be staying for the foreseeable future.

RELATED: 3 Myths About Selling In The Fall

While demand for detached homes has been rising month-over-month, the inventory has not…

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Sellers don’t always disclose the whole truth when listing a home. You always have to be on the lookout for potential problems during your search. Here are 4 red flags to look for when buying your next home:


Minimal property photos

 

Listings with little to no property photos should immediately arouse suspicion. It's possible that the house could need substantial work, renovations or repairs. There's also a chance that there's a reasonable explanation, but you’ll want to be cautious. The best way to find out is to take a walkthrough of the home with your real estate agent.

RELATED: What Happens At A Home Showing?


Bad Smells

 

A house should not have any noticeable odors. If you sense a musty smell during a walkthrough, then…

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