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The Toronto real estate market started off the new year with a drop in home sales by more than 18% compared with a year ago, as fewer properties were listed for sale and market conditions tightened.

According to the latest TRREB report, a total of 5,636 homes were sold last month, down from the 6,888 sold in January 2021.

“There's buyers out there. They're just having a hard time getting the deal done,” said TRREB's chief market analyst.

The lack of homes on the market had a major impact on home prices in January, with the average price up to $1.2 million last month, a 28.6% increase from $966,068 in January 2021.

The board expects detached houses to remain most popular with intending buyers, especially in suburban areas.

With an…

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The Toronto real estate market saw record breaking numbers in 2021. An increase in demand for home buyers caused prices to rise to an all-time average high of $1.1 million, while home sales jumped 28% to 121,712. With that year now over, what can we expect in 2022?

A new report by Royal LePage is forecasting that in 2022 prices in the GTA will rise by another 11%, with the average home price reaching $1,243,000 by the fourth quarter.

 

This growth comes despite expectations that the Bank of Canada will increase interest rates within the first 3 months of 2022, which will increase the cost of borrowing and potentially push some buyers out of the market.

“We finished 2021 on an unusually strong note,” said Royal LePage president and CEO Phil…

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Homeowners are often looking for ways to save money during the cold months. If you are worried about your energy bill this winter, here are 4 energy saving tips to help you cut costs.

Maintain Your Furnace Filters

If your home uses a furnace filter, replacing it regularly and making sure it is clean will help save you money. When the filter gets clogged up, the furnace has to work harder to pump out air. Dirty filters can impede air passageways and tend to increase your energy bills. Check your furnace filters once per month to ensure they aren’t clogged and replace them when necessary.

Let The Sun In


Regardless of the temperature outside, a sunny day can provide free heat when combined with your main heating methods. When the…

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Are you considering buying a home this year? There is no better time to start planning than now. Whether you are waiting until the spring or later on in the year, getting started sooner rather than later will save you a lot of trouble in the long run. Here are 3 things you can do now to prepare.


Start Saving For Your Down Payment

 

The down payment is arguable the most difficult and time-consuming part of the home buying process, which is why it’s important to start thinking about it now. Decide how much home you can afford, and then calculate how much of a down payment you’ll need to purchase it. Put aside some money every month to ensure you have enough when the time comes to buy.


Work on Your Credit Score

 

Your credit score…

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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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