Welcome back to our detailed real estate market update for June 2024 in the Greater Toronto Area (GTA) and Durham Region. This month has seen some notable developments reflecting broader economic sentiments and potential shifts in the mortgage landscape.

GTA Market Insights:

Sales Activity: June 2024 saw a continued reduction in home sales across the GTA. According to the Toronto Regional Real Estate Board (TRREB), 6,213 home sales were reported through the MLS® System, marking a 16.4% decline compared to the 7,429 sales in June 2023. Despite the Bank of Canada's rate cut at the beginning of the month, many buyers chose to hold off on their purchasing decisions.

Home Prices: The MLS® Home Price Index (HPI) Composite benchmark experienced a 4.6%…

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Ontario has set an ambitious goal to build at least 1.5 million homes by 2031, and Oshawa is playing a significant role in this initiative. With a 10-year housing target of 23,000 new homes, Oshawa has made steady progress since 2022. As of 2024, the city has added 3,408 new homes, including 1,135 in 2023, and 294 so far this year, reaching 15% of the 2024 target of 1,917. This blog explores the benefits and challenges of this growing housing inventory for buyers and sellers in Oshawa.

The Benefits of Increased Inventory

Greater Choice for Buyers

For homebuyers, the increase in new homes means more options. Whether you're looking for a cozy starter home, a spacious family residence, or a lucrative investment property, the expanding inventory…

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The Durham Region, located just east of Toronto, is rapidly becoming one of Ontario’s most desirable places to live. Whether you're a first-time homebuyer, a growing family, or someone looking for a change of pace, Durham has something to offer everyone.

Here are the top five reasons to consider buying a home in this vibrant and growing community:

1. Affordability

Compared to the skyrocketing prices in Toronto, the Durham Region offers more affordable housing options without compromising on quality. Whether you’re looking for a spacious suburban home, a trendy townhouse, or a cozy condo, you'll find more bang for your buck here. This affordability extends to lower property taxes and a lower cost of living, making it an excellent choice for…

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Welcome back to our in-depth real estate market update for the Greater Toronto Area (GTA) and Durham Region. The dynamics of March 2024 have presented some unique changes and trends worth noting:

GTA Market Insights:

Sales Activity: March 2024 witnessed a shift in the GTA real estate market. Despite a 4.5% decrease in home sales compared to March 2023, there was still enough competition among buyers to push up the average price. REALTORS® reported 6,560 sales through TRREB’s MLS® System. Interestingly, this decrease could be partially attributed to the Good Friday holiday occurring in March this year, unlike last year when it fell in April.

Home Prices: The average selling price in the GTA rose moderately by 1.3% from last year to $1,121,615.…

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Spring in the Durham Region is blooming with excitement as it hosts a variety of Easter events designed for families, kids, and even pets to enjoy. From brunches with the Easter Bunny to adventurous egg hunts and magical farm experiences, there's something for everyone to make this Easter unforgettable.


Easter Bunny Brunch at Pingle's Farm

Starting on March 23, Pingle's Farm in Hampton offers a delightful Easter Bunny Brunch.

This event includes a prix fixe menu, live music, special Easter apple sippy cups for kids, and interactions with the Easter Bunny. The price ranges from $155 to $220 + HST per table, and your ticket also grants admission to the SpEGGtacular Easter Egg Hunt at the same location​.

Click here for more details and to…

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Embarking on the journey to buy a home is a monumental step in anyone’s life, filled with excitement, anticipation, and, understandably, a bit of anxiety. With the right plan and mindset, however, the path to homeownership can be less daunting and more achievable. If you're looking to buy a home in the next five years, here’s a strategic guide to prepare you for one of your biggest life decisions.

Year 1: Assess and Set Your Goals

Reflect on Your Why: Start by asking yourself why you want to buy a home. Is it for financial security, family stability, or perhaps an investment? Understanding your motivation will help guide your decisions throughout this journey.

Financial Health Check: Evaluate your financial health. This means checking your credit…

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JANUARY 2024 UPDATE: NAVIGATING THE GTA & DURHAM REGION REAL ESTATE MARKET

Welcome back to our comprehensive real estate market update for the Greater Toronto Area (GTA) and Durham Region. As we kick off 2024, let's delve into the latest developments:

GTA Market Insights:

  • Sales Activity: In January 2024, GTA home sales surged, indicating a promising start to the year compared to the same period in 2023. Buyers benefited from lower borrowing costs associated with fixed-rate mortgage products, driving increased activity.

  • New Listings: Although new listings also saw a year-over-year increase, the rate was slightly lower compared to sales growth. This resulted in tighter market conditions, potentially signaling renewed price growth…

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December AND YEAR-END 2023 UPDATE: NAVIGATING THE GTA & DURHAM REGION REAL ESTATE MARKET

Welcome back to our comprehensive real estate market update for the Greater Toronto Area (GTA) and Durham Region. As we close 2023 and look back at the year, there are several key trends and statistics stand out. Let’s delve into the latest developments:

GTA Market Insights:

  • Sales Activity: The GTA home sales in 2023 totaled around 65,982, marking a 12.1 percent decrease compared to 2022. This decline is primarily due to affordability challenges driven by high mortgage rates. TRREB President Jennifer Pearce notes that while high borrowing costs and stringent mortgage qualifications impacted the market in 2023, there is optimism for 2024 with expected…

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NOVEMBER 2023 UPDATE: NAVIGATING THE GTA & DURHAM REGION REAL ESTATE MARKET

Welcome back to our monthly real estate market update for the Greater Toronto Area (GTA) and Durham Region. November 2023 has been a noteworthy month, witnessing continued impacts of high borrowing costs and uncertain economic conditions on the housing market. Let's delve into the latest developments:

GTA Market Insights:

  • Sales Activity: November 2023 saw a decrease in home sales in the GTA, with REALTORS® reporting 4,236 sales through TRREB’s MLS® System – a 6 percent decline compared to November 2022. This downturn is primarily attributed to inflation and the impact of elevated borrowing costs on affordability.

  • New Listings: In contrast to the drop in…

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Shared Homeownership: A Rising Trend in the Canadian Real Estate Market

In the dynamic landscape of Canadian real estate, shared homeownership is emerging as a significant trend. As housing prices in cities like Toronto and Vancouver soar, co-ownership offers a feasible alternative, enabling individuals to pool resources and share the financial burden of a property.

Why Shared Homeownership?

The rise in shared homeownership is a response to the persistent challenges presented by high housing costs in Canada's pricier real estate markets. This model offers an inclusive solution that allows individuals to come together to realize their dream of property ownership, making it more accessible and attainable for many.

Diverse Demographics

The…

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