Market Watch

December 5, 2012 — Greater Toronto Area REALTORS® reported 5,793 sales in November 2012 – down by 16 per cent compared to November 2011. “Transactions have been down on a year-over-year basis since June, after being up substantially in the last half of 2011 and the first half of 2012. Some buyers pulled forward their decision to purchase, which has impacted …

Having trouble watching video? Click here Greater Toronto Area REALTORS® reported 6,896 transactions through the TorontoMLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.* “Sales have decreased in the second half …

Canada is currently experiencing the lowest interest rate environment since July of 1958 when the Bank of Canada’s policy rate was lowered to 1.22%. The catalyst for the current unprecedented loose monetary policy is the great recession of 2008. Fast forward four years later and what are the consequences to the Canadian economy? This sustained and significantly low interest rate …

Although signs of a cooling Canadian real estate market have come to fruition, the demand and prices for Toronto office space is taking off. A new report from real estate firm, Colliers International, finds that vacancy rates for office space across the GTA have declined from 7.2% in the third quarter of last year to 6.3% in the same quarter …

On October 16th, 2012 Greater Toronto Area REALTORS released its report on Toronto Condominiums. The report mentions that in the third quarter of 2012 there were 4,541 condominium apartment sales through the TorontoMLS system which represents a 20.5% decline in sales relative to the comparable quarter in 2011; however, new listings during the same time period increased by 6.5% to …

Toronto real estate board posted it’s monthly statistics (attached) for real estate transactions for the month of September on October 3, 2012 and it’s in line with what we saw in August 2012 with number of transactions lower and prices keep climbing. We also saw the same stats repeated in new construction for August 2012 where the number of transactions …

Economists are beginning to arrive at a consensus in regards to the current real estate market status in Canada, particularly where Toronto and Vancouver are concerned. A price drop of 10 to 15 per cent over the next two to three years will be felt, according to ScotiaBank. Although we won’t be experiencing a U.S. style crisis, economists are additionally …

“TREB produces regular economic commentaries based on recurring data releases from organizations including Statistics Canada, the Bank of Canada, CMHC and various US agencies. These commentaries are written by Jason Mercer, TREB’s Senior Manager of Market Analysis, and include a summary of the release and an analysis related to the real estate sector in the GTA. Members can use these …

Summary of TREB’s Second Quarter Commercial Division Report: – 3.5 million square feet of total leased space in Q2 2012 – a decline of 22% compared to 4.4 million leased square feet in Q2 2011 – Spaces leased were down, but average lease rates were up for industrial, commercial/retail and office – Industrial properties accounted for almost 80% of total …

Summary of resale condominium market: – 5000 transactions in Q2 – 2.7% increase in prices, now up to $407 per sf New condominium market: – 4769 units sold, down a noted 21% from Q1-2012 and a whopping 50% from Q2-2011 – most Q2 activity took place at end of the quarter; 88% of those units under construction and 79% of …