Toronto Real Estate

Foreign Buyers Tax Increases to 20%

Today, the Provincial government has increased the Foreign Buyer's Tax from 15% to 20%. This was a sudden change, but not entirely unexpected. As you may remember, when the previous Provincial government initially introduced the Foreign Buyer's Tax in 2017, Toronto detached homes dropped an average of $400k over 4 months. The problem is, I expect a lot of changes in the next year that won't solve...

8 Scholarships Totaling $22,000

I'm pleased to announce that the Toronto Regional Real Estate Board (TRREB) is offering scholarships to graduating high school students.  Since the program's inception in 2007, we have awarded $200,000 to 50 deserving students.  This year, there are eight awards: 2 x First Place Awards ($5,000 each) 2 x Second Place Awards ($2,500 each) 2 x Third Place Awards ($2,000 each) 2 x...

How was March Break?

I was fortunate enough to get away from the city for a few days and do some skiing with the family! Earlier in the week, the ski conditions were perfect and the weather was cool! You know what else was cool?  The housing prices in pockets around the GTA. Some houses sold for less than they should, with fewer buyers competing.  Many homes passed their offer-date and either re-listed...

Is it a Buyer’s Market?

The average home in the GTA, sold for $1,334,544 which is an increase of +$27.6% from last year. But there has been a slight shift in the past few weeks. Showings and offers have been less than expected, and a lot of properties have passed the offer-date without an accepted offer. Further, more and more bully-offers have been accepted, which means that the showings weren't as busy as...

Real Estate – January 2022 Report

The numbers for January were staggering! The average price for a home in the GTA is now $1,242,793, which is up +28% from last year. I personally think a lot of buyers made a New Year's Resolution to get into a new home in 2022 so the numbers reflect this. Supply was limited in January and houses around the GTA routinely had offers of 20 or 30 on offer night.. As more houses come up for...

Condos are Back!

A lot of buyers came out this week and I'm hearing the same story from other realtors across the GTA. Maybe Buyers had a New Year's resolution that they were definitely going to buy something this year, or maybe they feel condos are much more affordable than townhouses. Whatever the reason, buyers are coming out in droves! Two weeks ago, a 2-bedroom in the same building sold for $718,000 and...

Crazy Real Estate in London (UK)!

Many people are frustrated with the fast-moving real estate market in Toronto, but imagine if you bought a house and on closing day, someone else buys it! According to an article in the CBC, this is what happens in the UK because of their antiquated real estate laws. In London, there is no such thing as a "firm deal"! So up until closing day, Sellers can have a change of heart and go with...

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