May 2024 Markets Stats Analysis

May market numbers are IN!
With the spring market blooming, we’re seeing a notable increase in inventory, with new listings soaring up to a 30% increase compared to May 2023.

Prices have dipped just below last year’s levels, and the Bank of Canada’s recent rate cut—the first in four years, there is certainly a buzz happening.

The stage has been set for an exciting Spring/Summer market, brimming with opportunities for both buyers and sellers. There’s a diverse selection of properties available, and with motivated players on both sides, it’s shaping up to be an energetic season.

Curious how interest rates and new incentives to home buyers play into your goals?
Drop us a line, we’d love to get you up to speed!

Want to see more about specific area’s of the GTA CLICK HERE

April 2024 Markets Stats Analysis

April Market Stats are IN!!
The Toronto real estate market is buzzing with excitement this spring! In April 2024, we saw a whopping 71% increase in the number of condos listed for sale and a remarkable 51% increase in freehold homes for sale across the city compared to last year. This surge in inventory is fantastic news for first-time buyers who have been eagerly waiting to enter the market.

Even more exciting is the fact that despite this surge in supply, prices have only increased by single digits at the moment. This means there’s a golden opportunity for buyers to capitalize on the current inventory and prices before a potential interest rate decrease draws even more buyers into the market.

If you’re thinking about making a move in the Toronto real estate market, now is the time to act!

Let’s connect and set the stage for your next big move together. With the market in your favor, there’s no better time to find your dream home or make a strategic investment.
Let’s seize this opportunity and make your real estate goals a reality!

Want to see more about specific area’s of the GTA CLICK HERE

Spring isn’t only a time of renewal for us. As the days get longer, your houseplants are beginning to wake up from their winter dormancy. Now is the perfect time to give them the tender love and care they need to thrive all year long.

Follow these tips for happier houseplants:

1. Repot
This is the ideal time to give plants a bit of extra space to grow by repotting, allowing their roots to stretch out and absorb more fertilizer. If your plants still have room for growth, add some fresh soil to the top.

2. Prune
Most indoor plants take well to pruning. In fact, pruning often encourages new growth. To start, cut off any leaves that are yellow, bruised, or shrivelled. Next, cut off any stems that have grown long and leggy or have put out only small new growth. New stems should form in their place.

3. Fertilize
There’s nothing like a good dose of nutrients to get your plants going after their winter rest! Now is the time to restart your fertilizing routine to give your plants the nutrients they need to thrive.

4. Dust and Wash
Did you know dust accumulation on leaves prevents light absorption in plants? Give your plants a little spring bath by supporting the underside of the leaf with your palm, and wiping the surface with a damp paper towel or soft cloth. You can also put your plants in the bath and give them a shower with tepid water – just be sure not to overwater!

March 2024 Markets Stats Analysis

Let’s dive into the numbers for March 2024 versus 2023 and unpack what they mean for you:

1️⃣ Increase in New Listings: Spring market vibes are strong! 🌷🏠 More properties hitting the market means more choices for buyers. Whether you’re a first-timer or downsizing, or looking to buy your forever home, there are some great homes coming to market and waiting for you.

2️⃣ Moderate Price Increase: Good news for both buyers and sellers! Prices are on the rise, but at a steady pace of 3-5%. It’s the Goldilocks scenario - not too hot, not too cold, just right. Coupled with an increase in inventory, it’s a great time to be on the market.

3️⃣ Bank of Canada Meeting Alert! 🚨 All eyes are on the big BOC meeting coming up on Wednesday, April 10. The burning question: will they hold steady or start cutting rates? Stay tuned for updates - it could impact the market big time!

Exciting times ahead in the real estate world! 🏠💼

Want to see more about specific area’s of the GTA CLICK HERE

February 2024 Markets Stats are IN

The market stats for the month of February appear to be showing slight increases year over year, for the City of Toronto in number of sales and average selling price. This is reflected across different areas of the City. There are some variations in the average selling price across parts of the city & GTA, however the number of sales and ‘New For Sale’ are showing increases, year over year.

It is more important than ever to team up with a Realtor who knows what is happening and has the experience to guide you through to your best opportunities! When trying to understand the Toronto real estate market, know that at LTHOME you have a Collective of Experience, Knowledge and Skill to help you successfully navigate the market and your next journey in buying or selling a home.

Our team is smart about how we approach each situation and home, both from the buying and the selling side. Making sure that we are strategic and using every tool to your advantage, from fine tuned negotiation skills, neighbourhood knowledge, a team of professionals supporting us and even connections with our colleagues across the city.

Want to see more about specific area’s of the GTA CLICK HERE

There is no doubt that Real Estate in Toronto is pricey. Unaffordability of housing in the city is often the topic of heated conversation around the dinner table. Although the desire to be a homeowner is often high on the list of many Ontarians, there are so many who have resigned themselves to renting. Join Lainey Bonsell as she discusses some of the products available to help you save for a First Time Home purchase. Here at LTHome, we love talking about this stuff and helping our clients find ways in their own specific situations to make things easier. We would welcome the opportunity to have a chat and see if we can help you on the path to homeownership!

January 2024 Markets Stats are IN

And you might be surprised to see these numbers...

This first month of 2024 is the perfect peek into the amount of market activity that’s starting to come out of the woodwork. With prices showing minimal (single digits) drops across most communities, and number of sales and number properties listed climbing by nearly 33% on average across the city of Toronto last month vs February 2023.
After months of cautious optimism and careful consideration, the warm winter temps and market conditions have brought motivated buyers back out to the field!

Toronto Condos saw a near 65% increase in # of sales vs. Jan 2023, Kudos to those first time buyers making the most of these buyer-friendly conditions and curbing those climbing rental rates.

Looking for a personalized market overview of your neighbourhood? Or keen to find out what opportunities are right outside your door? Go to our BLOG - link in bio - to see neighbourhood specific stats.

Or, drop us a line, whether you’re in the dreamboard phase or seriously considering your next move, now is a very good time to talk strategy!

Want to see more about specific area’s of the GTA CLICK HERE

Let’s talk about the elephant in the room: Interest Rates, Inflation and Real Estate, which currently affects almost everyone. We all know that interest rates and inflation have been a huge topic in the media and around the kitchen table for the last several months. And well, Real Estate in Toronto is always a fun topic of conversation! With the most recent Bank of Canada rate hike on July 12th, and the news that there is possibly more to come, it’s hard not to take notice. There are many opinions, predictions and general thoughts flying around out there and I thought this would be a good time to sit down and pull from some of our trusted sources along with what I’m seeing day-to-day in the market to give you a little professional insight.

THANK YOU to everyone who SHOPPED, DONATED & SUPPORTED

the LTHome Garage Sale for Shelter we raised an incredible $3,142!!

On May 6th our Royal LePage Estate Realty family hosted 15 Garage Sales and we are thrilled to announce that collectively we raised a total of

$20,000!!!

The proceeds from Garage Sales will go directly to The Red Door Shelter, Nellie's Shelter and The Scarborough Women’s Shelter, through the Royal LePage Shelter Foundation.

What we love about this organization is that Royal LePage pays all the administration cost for this charity so 100% of the money raised goes directly to the shelters and people that need it most.

The Royal LePage Shelter Foundation is Canada’s largest public foundation dedicated exclusively to funding women’s shelters and violence prevention programs.

Every dollar raised goes directly to helping the more than 50,000 women and children who are served each year, by the shelters and support programs we fund. Since 1998, the Shelter Foundation has raised $41 million to-date and currently supports 200 local women’s shelters and national partners.

Well, it’s been a year! For the first time in a long time our first response when it comes to Toronto Real Estate is not “it’s bonkers out there!” 

For the most part we saw a general slowing of the market, which is not a bad thing. The rate in which prices were increasing and more so, the means by which some people felt compelled to go about buying a new home was becoming unsustainable and in some cases pretty risky. 

We walked into 2023 with yet another rate hike of 25 basis points which proved to have the desired effect of cooling the housing market for the beginning of the spring. A rate hold in March and April had buyers jumping back in, resulting in a return to bidding wars and prices trending upwards. This put pressure on inflation and was cause for the Bank of Canada to raise rates twice more in June and July. These rate increases have proven to force many of us to watch our pennies a little closer. 

The final 3 rate announcements of the year saw the BOC holding the prime rate at 5.25% These latest holds are positive news, it’s true we are all feeling the pinch, but it hasn’t had the same effect on the market as the previous holds had. There was certainly some hesitancy from both buyers and sellers toward the end of 2023, the question is will this climate end in pent up demand or continued trepidation?

There is much speculation as we ease into 2024. Many of these predictions depend on how the economy fairs going forward and the direct impact of inflation and interest rates. 

We still haven't found that crystal ball but we do believe amid challenges, our city continues to showcase its enduring appeal, with a dynamic interplay of supply and demand. 

Regardless of which direction we go, here at LTHome we understand that personal circumstances play the biggest role in our clients' needs or desire to move. Trust that we have the time, experience and knowledge to help you through a successful Real Estate journey regardless of the outside noise. 

We are always happy to sit down and strategise the best options with you, regardless of if that means we take the “wait and see” approach, the “hustle now” approach, or something comfortably in between.

At long last- SPRING has sprung! And while the sun is shining and the birds are chirping; you might be taking in the aftermath of great Canadian hibernation. There’s no doubt that throughout the cold winter months we tend to accumulate stuff; whether you’re ‘duvet shopping’, strolling a toasty mall or still grappling with your holiday loot. It’s been a long winter of stuffing things into the dark corners of closets, but now it’s time to start digging for your beloved pair of sandals, making room for your floppy beach hat and finding a resting place for that tired parka!

Whether you’re on team ‘Spring Clean Serenity’ or team ‘Do We Have To?’ there is SO much to be gained by a good old fashioned SPRING CLEAN, it’s Science!

According to researchers, clutter causes more than just a mess, it actually contributes to a significant amount of STRESS. A whopping 47% of North Americans report they are preoccupied by their house not being in order. Studies have shown that clutter causes your cortisol levels to spike, and it even results in decreased productivity at the office; the stress and anxiety of having a messy house is even said to stick with you throughout your time away from home. But the good news is it takes just a little bit of elbow grease and determination to get your nest back in order, and once you reach some level of organization, research suggests you're much less likely to fall back into bad habits. Once it exists, your brain is actually programmed to maintain the cleanliness. Game Changer!

If this isn’t quite enough to sway your motivation- how about considering the IMPACT your parted possessions could have on the lives of Women and Children in your community!

Thanks to the Royal LePage Shelter Foundation, you can watch your new found home organization translate into real dollars and make a real difference in supporting shelters that house over 50,000 individuals in need of refuge.

So while you’re taking inventory of your crammed-full cupboards, and piled-up places please consider putting aside your gently used items to donate to the Garage Sale for Shelter. Donations are typically accepted the first week of May and are appreciated more than you know!

The Royal LePage Shelter Foundation is Canada’s largest public foundation dedicated exclusively to funding women’s shelters and violence prevention programs. Since 1998, the Shelter Foundation has raised more than $38 million and currently supports 200 local women’s shelters and national partners. In addition to this annual nation-wide fundraising event, Royal LePage agents proudly donate a portion of their commissions, volunteer their time and provide in-kind goods towards making a difference through the Shelter Foundation.