September 24, 2018
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Real Estate News Toronto April 2018
TREB Releases Monthly Market Figures Reported By GTA REALTORS®



TORONTO, April 4, 2018 -- Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,228 residential transactions through TREB’s MLS® System in March 2018. This result was down by 39.5 per cent compared to a record 11,954 sales reported in March 2017 and down 17.6 per cent relative to average March sales for the previous 10 years.

The number of new listings entered into TREB’s MLS® System totaled 14,866 – a 12.4 per cent decrease compared to March 2017 and a three per cent decrease compared to the average for the previous 10 years.

“TREB stated in its recent Market Outlook report that Q1 sales would be down from the record pace set in Q1 2017,” said Mr. Syrianos. “The effects of the Fair Housing Plan, the new OSFI-mandated stress test and generally higher borrowing costs have prompted some buyers to put their purchasing decision on hold. Home sales are expected to be up relative to 2017 in the second half of this year.”

The MLS Home Price Index Composite Benchmark was down by 1.5 percent on a year-over-year basis for the TREB market area as a whole. The overall average selling price was down by 14.3 per cent compared to March 2017.

While the change in market conditions certainly played a role, the dip in the average selling price was also compositional in nature. Detached home sales, which generally represent the highest price points in a given area, declined much more than other home types.  In addition, the share of high-end detached homes selling for over $2 million in March 2018 was half of what was reported in March 2017, further impacting the average selling price.

“Right now, when we are comparing home prices, we are comparing two starkly different periods of time: last year, when we had less than a month of inventory versus this year with inventory levels ranging between two and three months.  It makes sense that we haven’t seen prices climb back to last year’s peak.  However, in the second half of the year, expect to see the annual rate of price growth improve compared to Q1, as sales increase relative to the below-average level of listings,” said Jason Mercer, TREB’s Director of Market Analysis.

TREB continues to stress that housing and housing affordability need to be at the forefront of the policy debates leading into this year’s provincial and municipal elections.

“A well-functioning housing market is not only important to ensure that people have a place to live; it is also important because it supports hundreds of thousands of jobs, billions of dollars in spin-off expenditures and billions of dollars in government revenues.  Issues such as the below-average level of housing supply and often inadvisable policy ideas and negative measures such as land transfer taxes, vacancy taxes, speculation taxes and second home taxes should also be thoroughly debated by all candidates,” said Mr. Syrianos.  


Summary of TREB MLS®  Sales and Average Price March 1 - 31, 2018








Average Price

New Listings


Average Price

New Listings


City of Toronto ("416")








Rest of GTA ("905")
















TREB MLS® Sales & Average Price  By Home Type March 1 - 31, 2018



Average Price
















Yr./Yr. % Change














Yr./Yr. % Change














Yr./Yr. % Change







Condo Apartment







Yr./Yr. % Change







March 2018 Year-Over-Year Per Cent Change in the MLS® HPI



Composite (All Types)

Single-Family Detached

Single-Family Attached




TREB Total







Halton Region







Peel Region







City of Toronto







York Region







Durham Region














South Simcoe County1







Source: Toronto Real Estate Board



1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth





Real Estate News April 2018

They bought their prebuilt homes at the market’s peak. Now they face financial ruin

A group of buyers in an Oakville subdivision say they have been trapped in a unique period in the Toronto-area housing market that has left them in an “impossible” situation.

 Toronto-area housing market

Read more:

A group of Oakville homebuyers, struggling to finance the pre-construction houses they bought in February 2017 at the height of last year’s real estate frenzy, are blaming “reckless” provincial housing policy and new mortgage rules for putting them on the brink of financial ruin.

The desperate buyers say they have been trapped in a unique period in the Toronto-area housing market — one engineered by provincial policy designed to cool the soaring costs of housing. The problem has been compounded by new mortgage rules that they believe have the potential to drive desperate buyers deeper in debt by sending them to alternative lenders that offer higher-interest loans.

Declining real estate sales in the Toronto region have meant the buyers have not been able to sell their existing homes for the amounts they anticipated when they contracted to buy new houses in Mattamy’s Preserve development near Dundas St. W. and Fourth Line. After they failed to sell when the market plunged or they took lower-than-expected prices, they say they couldn’t get larger loans to cover the difference.

“This impacts your health. Financially it breaks families,” said Zahir Bashiruddin. He and his wife bought a new house with a single-car garage so they would have fewer stairs to contend with while caring for their infant and toddler.


Read more:


Price drop crushes pre-construction home buyers’ dreams

GTA home sales down 40 per cent in March compared to last year, report shows

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The Top 10 Real Estate News Headlines March 2018
More Exciting News Real Estate Market

Top 10 Real Estate News Stories March 2018

$1 million-plus condo market to remain steady through spring


Sotheby’s International Realty Canada released its top-tier 2018 spring market forecast, predicting the luxury home market will normalize in the Greater Toronto Area (GTA), based on sales transactions through the MLS system.

Full Story on Toronto Star

New condo prices in the GTA continue to rise

The Building Industry and Land Development Association (BILD) released its monthly new housing report for February 2018, announcing that new condo prices in the Greater Toronto Area (GTA)continued to rise.

Full Story on Toronto Star


How will Sidewalk Toronto address affordable housing?

We had the pleasure of attending the first Sidewalk Toronto public roundtable meeting, one of the many ways Sidewalk Labs and Waterfront Toronto are consulting the public.

Full Story on Toronto Star


How the provincial election could impact the housing market


With Doug Ford looking like the frontrunner for premier in the upcoming provincial election, pundits are wondering what that might mean for the housing market.

Full Story on Toronto Star


TREB calls on provincial parties for housing policy debate


As everyone’s attention is shifting to the upcoming June 7 provincial election, the Toronto Real Estate Board (TREB) has called on all three major parties to outline their housing policies in a debate format.

Full Story on Toronto Star






From RBC Chief Executive’s stance on foreign cash in the Canadian housing market to B.C. introducing an anonymous ‘Realtor tip line’, to high-end home sales plummeting even as prices nudge up, we’ve cultivated a list of the top 10 stories. Here’s the latest news!

RBC Chief Sounds Alarm on Flood of Foreign Cash in Canadian Real Estate

Toronto, Canada’s biggest housing market, has been correcting over the past few months amid a slew of regulations put in place to steady booming prices and increasing debt.

Full Story on




There’s a riddle at the centre of Toronto’s housing affordability crisis: What is causing huge chunks of the city to lose population at the same time as the overall population is booming? The answer…

Full Story on

There are just two roads in and out of Humber Bay Shores. On a bad day, the commute by car to downtown can take 40 minutes.  (BERNARD WEIL /TORONTO STAR)

Full Story on


Waterloo Region among best real estate markets for investment: report

Part of the downtown Kitchener skyline is seen on Thursday, March 31, 2016. (Dan Lauckner / CTV Kitchener)


Full Story on




B.C. court rules in favour of buyer who walked away from real estate deal over fatal shooting on property

The Vancouver home at the center of a lawsuit after a buyer walked away from the deal after learning of a murder on the property. (Ben Nelms/The Globe and Mail)

Full Story on The


Investing in Ontario real estate? These cities are the best bets





A new report from independent research think-tank Real Estate Investment Network (REIN) ranked Ontario’s largest metropolitan areas in terms of real estate market performance and suitability for investment over the next 5 years.

Full Story on

Luxury home sales plummet 58% in Toronto as high-end sector hit hardest in slump

But prices did inch up to a cool $4,201,873

Luxury sales have slowed in Toronto.James MacDonald/Bloomberg

Full Story on


GTA Commercial REALTORS® Report Commercial Market Figures
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Real Estate News
5 reasons Toronto house prices won't crash in 2016
Hot Canadian housing market to slow next year, CMHC says

Increase in inventory of unsold homes, prices, mortgage rates and supply of rental units all expected to contribute to slowdown in starts, sales, Canada Mortgage and Housing Corp. forecasts.

Toronto, Vancouver Home Affordability At ‘Risky' Levels, But Prices Forecast To Keep Rising
Interest rate cut could ‘over-stimulate’ Toronto housing market: Report
'Phantom bids' targeted in new Ontario real estate rules
Housing crunch looms for low-income renters amid real estate boom
Toronto home sales soar to fresh record in real estate’s hottest month of year
Average Canadian house price climbs 6.3% to $431,812
Oil rout continues to hit Western Canada's housing markets
Canadian banks on brink of mortgage price war
Is your house a home or a nest egg?
CMHC increasing insurance premiums
Average selling price: $539,058
Canadian home sales inch upwards
Home sales inched upwards in June as would-be buyers decided to jump into the market, the Canadian Real Estate Association says. Rising interest rates considered a key factor.
TREB: Helping to navigate Canada’s housing market
Average Toronto home price hits $800,000
Toronto Area Listing Up 14.4%
Toronto real estate: buyers take a breather from open houses and bidding wars
Real Estate Tax Windfall for Toronto
GTA detached home sales jump in April
GTA housing prices nudge over $500,000
Toronto Home Prices Up 8% in 2011
Toronto Market Healthy in November
Toronto sales up 25% over last year
Toronto home sales stronger in July
Toronto New Home Satisfaction Survey

Consumer satisfaction for new home builders up in 2010

Ontario housing starts up 29% February 2011
Homes more affordable for now

Home ownership became more affordable for the average Canadian in the last quarter of 2010, with the most significant improvement in Alberta, says the Royal Bank. The bank's housing affordability measure shows costs associated with owning a home in comparison to income slightly declined in the last three months of last year.

TREB Commercial REALTORS® Report Monthly Commercial Figures
Housing market to moderate: CMHC

Existing Toronto area home sales up 7% over last year

Toronto luxury home sales buoy market

Forest Hill, Bridle Path hottest spots for real estate worth $1 million-plus as February sales, prices soar.

Real estate marketing gurus see 'cautious optimism' for 2010
Investment Real Estate News
Greed for yield fuels “explosive” rental market
6 things everyone should know before an investment project begins
What’s the better buy: Vancouver vs Toronto
GTA commercial market takes a hit
Hot region sets ground rules for investors
Demand pushes key market to Vancouver-worthy heights
Morguard - 2015 Real Estate Investment Trends to Watch in Canada
Where to invest in real estate in 2015?
Sales of million-dollar homes up in 2014: report
Rent-to-own a home: Beware the risks
Bank of Canada maintains overnight rate target at 1 per cent
Ottawa -

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Is your house key to your retirement plan?
First-time homebuyers wish they had a second chance

Renovate or buy a home?

You are desperate for more living space and now face the big decision – renovate your current home, or buy another one? Chartered Accountant Gerald Tracey, Investment Advisor, ScotiaMcLeod in Windsor, advises that this decision should be made in a two-step process.

The Benefits of Building Green

As consumers continue to learn more and more about green building, architects, designers and builders are starting to incorporate more green features into their new homes. As technology and products continue to emerge, consumers can build their dream home without sacrificing aesthetics.

Five must-haves for flipping houses

Many people assume that they can simply 1) buy a house, 2) apply a fresh coat of paint, 3) trim some bushes, and then 4) resell the home at a profit. Unfortunately, this process, called "flipping" is not that easy.

Street Names
Street Names in Richmond Hill



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