Heaps Estrin's Blog - Market Updates

As the crisp air of autumn settles in and the leaves begin their glorious display, Toronto’s real estate market is also undergoing some remarkable changes. After a series of financial and regulatory changes, we are experiencing a noticeable uptick in activity. For the first time in months, we are seeing multiple offers re-emerge on several of our listings, signaling a renewed urgency among buyers.
 
With interest rates continuing their descent, combined with changes to amortization periods, insurance caps and adjustments…

As quickly as it arrived, summer has flown by. Pencils are being sharpened, lunches are being packed, and there has been a palpable shift in energy, weather, and expectations concerning the Toronto real estate market.

While conditions remained relatively stable over the warmer months, it’s no surprise that many buyers were momentarily preoccupied with all that summer had to offer. However, with fall just around the corner, we expect a renewed focus from buyers, making this the perfect time to start planning…

As we move through the quieter summer months, it is typical for the market to experience a bit of a slowdown, with many Torontonians shifting focus to summer getaways and warm weather adventures. There is, however, a fitting adage about the real estate industry never taking weekends off, and – judging by the activity level in our own headquarters – the same may indeed be true of summers. While much of this activity can be attributed to strategic planning and thoughtful preparation for the fast-approaching Fall…

Consumers need to see more interest rate movement before major effects are felt.
This summertime reprieve presents the perfect opportunity to ready ourselves for a busy fall.

“If you build it, they will come.” For those of us who remember that famous movie line, this year’s anticipation around interest rate cuts had many feeling that same sense of eager anticipation – if you cut it, they will come. The sales figures for the month of June, however, tell a rather different story. The Bank of Canada’s…

And… we have lift-off. After months of speculation from economists, analysts, and armchair experts alike, the Bank of Canada has decreased the overnight lending rate by 25 basis points. While this may seem like a small gesture from a financial standpoint, it is one that could have a rather profound impact on the Toronto real estate market, as many are viewing it as a positive sign of things to come. 

While it may not translate into a significant change to monthly mortgage payments, the cut marks the first time in more than four years that we have seen any decrease to the all-important lending…

The Central Toronto market saw some rather positive movement last month, with price appreciations happening across all inventory categories. The number of transactions, while down somewhat compared with last year, was also higher in every category month over month. With that said, as with the rest of the GTA, the kick-off to…

The April showers adage has never felt quite as fitting as it does today as I look out the window while typing these words and the rain is coming down in sheets. It feels appropriate, too, as a metaphor for how the market is behaving right now. TRREB just released the stats for March and the numbers confirm what our team has been experiencing firsthand: the market is springing to life a little more slowly than some were expecting, but, as with the adage and its promise of May flowers, there is much to look forward to in the months ahead.

The quieter start to the…