Jerzy Klucznik's blog

In 1996 the average price of a residential property in the GTA was less than $200,000.

Fast forward 25 years and more than 2 million transactions and it is now $1,095,475.

The sustained real estate boom, which has seen $1.1 trillion in properties change hands, is detailed in new report from Re/Max Canada examining the last quarter century of sales in eight GTA regions.

The report found that GTA home prices have risen by about seven per cent on average over the last 25 years, easily outpacing the rate of inflation.

In 1996 the average price of a residential property in the GTA was less than $200,000.

Fast forward 25 years and more than 2 million transactions and it is now $1,095,475.

The sustained real estate boom, which has seen $1.1 trillion in properties change hands, is detailed in new report from Re/Max Canada examining the last quarter century of sales in eight GTA regions.

The report found that GTA home prices have risen by about seven per cent on average over the last 25 years, easily outpacing the rate of inflation.

A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2 per cent – a lesser annual rate than sales. The result was extremely tight market conditions and an all-time high average selling price of $1,095,475 – an increase of 17.8 per cent compared to the previous 2020 record of $929,636.

The Toronto Regional Real Estate Board (TRREB) is reporting the third-best sales result on record for the month of August. While the market has taken its regular summer breather, it is clear that the demand for ownership housing remains strong. At the same time, the supply of listings is down. The result has been tighter market conditions and sustained competition between buyers, resulting in double-digit annual increases in selling prices.

The wait is over. In just few days Esquire Homes will launch a highly anticipated Fresh Urban Towns… This stunning new community in Whitby is comprised of stacked and traditional townhomes in a pleasant cul-de-sac backing onto protected greenspace.

In line with the forecast contained in the Toronto Regional Real Estate Board’s recently released Market Year in Review and Outlook Report, TRREB President Michael Collins announced a very strong year-over-year sales and price growth in February 2020.

Toronto Real Estate Board President Michael Collins reported that December 2019 residential sales reported through TREB's MLS® System by Greater Toronto Area REALTORS® were up by 17.4 per cent year-over-year to 4,399. Total sales for calendar year 2019 amounted to 87,825 – up by 12.6 per cent compared to the decade low 78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median annual sales result for the past decade.

Condo buyers in Ontario will get greater protection following the announcement of new requirements by the province’s home warranty provider.

Tarion says the new measures will help educate and inform prospective homebuyers and will include the addition of new search tools on Tarion’s Ontario Builder Directory and a new detailed information sheet highlighting the potential risks of purchasing certain types of pre-construction condominiums.

Condo buyers in Ontario will get greater protection following the announcement of new requirements by the province’s home warranty provider.

Tarion says the new measures will help educate and inform prospective homebuyers and will include the addition of new search tools on Tarion’s Ontario Builder Directory and a new detailed information sheet highlighting the potential risks of purchasing certain types of pre-construction condominiums.

The beginning of fall typically marks the start of a busy season for the new home market in the Greater Toronto Area, and 2019 was no different.

According to the Building Industry and Land Development Association’s monthly new home market report, there were 3,061 new home sales across the GTA in September 2019, which is 73% higher than the same month a year ago. Altus Group, BILD’s trusted source for new home market intelligence, says this is 6% above the 10-year average.