Condo Affordability Challenges in the GTA

Home affordability in Toronto has significantly declined, with avg condo prices surpassing what most median-income earners can afford. Median income earners in Toronto West, Central, and East, with a $74K income, can afford homes around $342K. In Toronto Central, avg condo prices exceed $760K, creating a $400K affordability gap....

New Listing: 109 85 Duke St W

Introducing your dream condominium in the heart of Kitchener! Nestled right next to Kitchener City Hall, this condo places you at the epicenter of it all. This rare Condo with stunning 10ft Floor-to-Ceiling windows offers a functional layout with a modern open-concept design, perfect for entertaining. Whether you're a first-time buyer looking for your...

Greater Toronto Area home sales drop 5.8% in October amid high borrowing costs

In November 2023, home sales in the Greater Toronto Area have declined 5.8% compared to October 2022, with townhouses recording the biggest decrease. The Toronto Regional Real Estate Board attributed this to a lack of affordability and high borrowing costs which have caused many potential buyers to hold off. Despite the decrease in sales, the average price of homes still rose 3.5% to $1,125,928 due to...

Greater Toronto Real Estate: Falling Prices and Shifting Demand

The real estate market in Greater Toronto is experiencing a significant downturn as prices have dropped and demand has waned. According to data from the Toronto Regional Real Estate Board (TRREB), the benchmark home price fell by 2.1% in October, amounting to a decrease of $23,400. This decline has erased most of the gains made in the past year, signaling the cooling of the once red-hot real estate...

Housing Affordability Across GTA Subregions

GTA's Housing Challenge: Rising prices and stagnant wages widen the affordability gap for potential buyers. Oakville: Median Income: $108K Max Affordability Threshold: $499,239 Avg House Price: $1,492,687 Toronto, Milton, and Halton Hills: Median Income: $107K Max Affordability Threshold: $494,580...

GTA Market: New Listings Surge, Sales Drop in Late Q3

Greater Toronto witnessed ~4.6K home sales, ↓ 12.1% MoM, and ↓ 7.1% yearly in September. Sales of semi-detached houses and townhouses experienced even more significant declines from the previous year. New listings ↑ 44% yearly, reaching 16.2K in September 2023....

Mississauga home prices drop 3.4 per cent to $1.02 million in September 2023

In September 2023, the average price for a home in Mississauga was $1.02 million, a decrease of 3.4% from August and 1.1% from September 2022. There were 386 home sales after an average of 20 days on the market and 1,708 active listings at the end of September. Compared to September 2013, the average sale price for all houses and condos in Mississauga has increased 102%. Continue to full...

High interest rates, market uncertainty continue to ‘grip the new condominium sector’ in the GTA, report finds

According to Urbanation's Q3-2023 Condominium Market Survey, new condo sales in the Greater Toronto Area have dropped 47% year-over-year, with only 9,568 units sold since the start of 2023. This is the lowest level in the past decade. The report noted that while 2,664 new units were sold in the third quarter of 2023, up 40% from the same period in 2022, it attributes the slump in sales to rapidly...

Fourplexes will be allowed in Mississauga, Mayor Crombie declares

In October 2023, Mayor Bonnie Crombie issued a directive that fourplexes will be allowed in Mississauga, reversing the council's decision from a week prior. This move will provide much needed housing and greater opportunity for those who want to live in the city, while also making Mississauga eligible for $120 million in federal funding for housing and community infrastructure. Continue to...

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