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...
Lawrence Mak Real Estate
The average home sold for $1,334,544 across the GTA, which is an increase of +27.6% since last year.
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...
With an average price of $1,242,793 across the GTA, there was an increase of +28.4% compared to last year.
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...
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...
In December 2021, the average home sold for $1,157,849 which is up +24% from last year. This is with 3,232 active listings versus 7,892 in the previous year. The drop may be because homeowners already sold their houses in November or perhaps they are waiting for January. Still, 2021 had a record 121,712 sales, showing that the real estate market has been very active during the...
With the recently announced gym closures, your New Year’s Resolutions may include exercising at home. Be careful! Interior doors and casements are NOT designed to deal with exercise equipment with strong elastic resistance! For example, interior doors are fastened to the door jamb with swing hinges using ¾" - 1" screws. They use short screws because the door is very light. A typical...
In a recently published report from the CIBC, parents gifted $10B to their children in the past year to buy a home. It found that roughly 30% of first-time homebuyers received an average of $82,000 while 9% of existing homeowners got about $128,000. In another study by IG Wealth Management, high-net-worth individuals, who had more than $1m in investable assets, gave, on average, $145,000 to...
Last month, the average home in Toronto sold for $1,163,323. Prices have increased across the board from condos to detached homes. For instance, detached homes in Toronto sold for an average of $1.807,983, up +22.4% from last year. If previous years are any indication, December and January will be slightly slower, although based on last week's number, the market is still going strong. Even...