Category: Uncategorized

Toronto faces a housing affordability crisis and needs more land to build affordable housing units. The Mayor proposes using surplus school land for affordable housing projects.

Toronto homes to hit an avg of $2M by 2034, with ↑ 5.6% yearly. MLS Home Price Index shows ↑ 0.3% in Late-Q1 2024, with an avg selling price of $1,121,615.

A report predicts GTA housing prices will rise 10% by the end of 2024, due to strong demand and low supply. The increase is attributed to factors like warm weather, reduced interest rate expectations, and high immigration.

Perspectives emphasized urgency in solving Canada's housing crisis through demand reduction and faster construction. Interest rates impact affordability; a balanced market is needed to tackle future challenges.

Condo fees: – A monthly cost for condo owners that covers building insurance, maintenance, amenities, and reserves. Fees vary widely: – This analysis looked at the 10 most expensive and cheapest condo fees for 1-bed units sold in the GTA.

The avg home price slightly ↑ yearly in Toronto, reaching $1.1M in March. This represents good news for older homeowners looking to downsize and sell their properties.

Bidding wars are back in the Toronto Real Estate market.~50% of the neighborhoods are now considered "in bidding war territory".

Market momentum at the beginning of 2024 has been muted as interest rate cut hopes are delayed. Q1 ended with ↑ 11.2% yearly in sales and ↑ 18.3% in new listings.