Javed Butt Real Estate Representative

The average sale price for homes in Toronto reached a new high in June.



https://nowtoronto.com/lifestyle/real-estate/toronto-home-prices-record-high-june-2020

Toronto home prices hit all-time high in June: report Realtors warn Toronto home prices could face a steep decline in the fall if the coronavirus pandemic has a delayed effect on the market

Concern that as the economy swings up, that it could lead to housing price inflation.

Realtors in Toronto urge governments to expand housing supply in COVID-19 relief plan As home prices rise, a group of Toronto realtors say governments should focus economic recovery plans on housing supply and be careful of stoking too much demand.

Greater Toronto real estate sales almost at last year’s levels.

Toronto Real Estate Prices Slide From Peak High, As Growth Rapidly Cools | Better Dwelling Toronto real estate sales are almost back to last year’s levels, but that isn’t helping prices. Toronto Regional Real Estate Board (TRREB) data shows June sales volumes were down just a few points from last year. The increase in sales wasn’t enough to stop prices from slipping lower though. Th...

Here’s a look at the top ten Toronto neighbourhoods for buying a home.

The Top Toronto Neighbourhoods to Buy Real Estate in 2020 A recently released report from MoneySense has revealed the top Toronto neighbourhoods to buy real estate in the city in 2020.

Low interest rates and thin inventories combined with still-strong demand have lead to higher prices.

Toronto housing prices up nearly 12 per cent despite pandemic Greater Toronto Area home sales are rebounding from the COVID-19 pandemic and prices are on the rise, but completed transactions are still short of where they were last year, the area's real estate board reported Tuesday.

There is so much pent-up demand that exists from carryover buyers from last year.

Demand outpaces supply as T.O. home sales rebound June home sales in Toronto just shy of year ago, prices up nearly 12 per cent

The strongest price growth came from the detached and semi-detached market segments.

Toronto home prices soar as listings remain low, but some question how long that will last Concerns that government aid is propping up market and worst is yet to come

HSBC lowered its five-year fixed mortgage rate to 1.99%.

The Toronto Real Estate Market is Suddenly on Fire Again Despite an ongoing pandemic, the highest unemployment rate in history, and millions of Canadians on CERB, the Toronto real estate market is once again hot.

Immigration remains a dependable fundamental of Toronto's economy.

Council Post: Newcomers Welcome: Why Immigration Is Fundamental To The Strength Of Toronto's Real Estate Market As we recuperate from the coronavirus pandemic, high rates of immigration will be something of a saving grace for the real estate market on regional and national scales.

Employers are embracing telecommuting much more now that they know it works just fine.

‘They are buying everything’: Cottage sales surge by as much as 25 per cent as Torontonians flee the city All those warnings from small cottage country mayors to stay away this spring haven’t discouraged Torontonians from hunting for vacation homes, say realtors in the resort destinations outside...

Buyers are certainly putting a fair amount of confidence into the current market.

Houses are Selling for Over Asking in Toronto at an Above-Normal Pace It may be a tighter real estate market right now, but the number of houses selling for over asking in Toronto is higher than

Is Magna the next golf course to turn into a housing development?

'It's inevitable:' Aurora's Magna Golf Course sold to development firm Trillyan Investment Limited, a company owned by Chinese family, bought the famous course.

The main reason home prices in Toronto aren’t dropping is that supply and demand have fallen in tandem.

The Toronto Real Estate Market is Suddenly on Fire Again Despite an ongoing pandemic, the highest unemployment rate in history, and millions of Canadians on CERB, the Toronto real estate market is once again hot.

Economists expected more inventory as lockdowns lifted but not the current boom we are seeing.

Major Canadian Real Estate Markets That Reopened See Inventory Explode Higher | Better Dwelling The Canadian real estate market is starting to see sellers return, especially in post-lockdown regions. Canadian Real Estate Association (CREA) data shows the sales to new listings ratio (SNLR) fell across Canada in May. The entire drop was due to inventory rising much faster than sales, in regions....

Businesses operating on thin margins and with high rents are having to reassess their business plans.

Did the pandemic crush commercial real estate? We asked a market expert More people are working from home during the pandemic. What does that mean for commercial real estate? We asked Roelof van Dijk, an industry expert

Disruptions to the supply chain negatively impacted the ability of the industry to secure vital building materials.

498 housing construction projects delayed in GTA: BILD | RENX - Real Estate News Exchange A Building Industry and Land Development Association (BILD) survey has found 498 residential construction projects by its members in the Greater Toronto Area have been delayed by the COVID-19 pandemic. In Toronto itself, 65 per cent of these projects are

The total market is currently seeing about 15% of mortgages on payment deferral.

Canadian Mortgage Credit Is Seeing Growth Surge, Despite Slow Real Estate Sales | Better Dwelling Canadian mortgage debt is swelling, despite the freeze on home sales. Bank of Canada (BoC) data shows mortgage credit made the biggest jump in a decade for April. The rise is somewhat unusual, since dollar volumes for home sales haven’t increased much. Even though resale and new home markets have ...

Unreported capital gains from private cottage or investment property sales are in question.

Canada Revenue Agency threatens audit in real-estate sector The building trades are being put on notice by the Canada Revenue Agency.Assistant Revenue Commissioner Ted Gallivan told the Commons finance committee that workplace safety violations may lead to …

Things are trending up.

First Two Weeks of June See More Toronto Home Sales Than Entire Month of April It didn't take long for Toronto home sales in June to surpass April's record-low levels, in another sign that market competitiveness is heating up.

Views on the future of the economy are getting more optimistic.

A big jump in Canadian confidence this week bodes well for the recovery A weekly composite measure of financial health and economic expectations saw it’s biggest gain since 2013

Housing markets usually cool down when the unemployment rate increases – but we are not seeing that now.

How is Toronto Real Estate Hot With Unemployment at 14%? In spite of three months of economic free fall due to COVID-19, the Toronto real estate market seems to be returning to its pre-pandemic vigour.

Across both Milton and Oakville, both April and May saw an upward growth in sales activity.

Average Sale Price in Oakville Up Nearly 10% from 2019 Despite Pandemic In a new report, RE/MAX has taken a deeper look at the Oakville housing market, how the pandemic has impacted it, and what's to come in the months ahead.

As the slowdown impacts hosts, many may be incentivized to sell.

Toronto and Vancouver Real Estate Inventory May Get A Boost From AirBNB Slowdown | Better Dwelling Canadian real estate markets may be getting another inventory headwind soon. National Bank of Canada (NBC) research estimates AirBNB hosts may contribute to oversupply later this year. As the slowdown impacts hosts, many may be incentivized to sell. By their estimates, just a quarter of hosts sellin...

Even with a deferral, lenders still have to pay interest on loans to the investors.

The hefty cost behind breaking a mortgage The COVID-19 pandemic has left a lot of people cash-strapped. Especially if there’s no income coming in.The pandemic left real estate agent Kristina Barybina in a bind when she didn’t h…

Commercial evictions have been temporarily banned.

Ontario government halts commercial evictions in COVID-19 pandemic TORONTO -- The Ontario government is putting a temporary ban on commercial evictions to help small business owners who are struggling to pay their rent amid the COVID-19 fallout.Premier Doug Ford says the moratorium applies to small businesses who qualify for the Canada Emergency Commercial Rent Ass...

With an acute focus on transit connectivity, quality open spaces and distinct architecture – this will be a great destination for many families.

SmartCentres Development to Reshape Corner of Highways 400 and 7 | UrbanToronto SmartCentres is redeveloping its property at Highways 400 and 7 in Vaughan, retaining Weston Williamson + Partners and Turner Fleischer Architects on the multi-tower, masterplanned scheme.

Funding for the project was sourced through the City's Development Charges Reserve Fund for Subsidized Housing, and from the Government of Canada through CMHC’s Affordable Housing Innovation Fund.

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If you’re seeking a slice of lakeside cottage country real estate this summer, the time to act is now.

Muskoka Real Estate Red-Hot as Buyers and Renters Turn to Cottage Country Offering a change of scenery from downtown Toronto, and the chance to reconnect with nature, Muskoka real estate is red-hot right now.

The buyers are back out and the sellers are getting their asking prices.

Toronto home sales in May up from April, but economists temper their optimism | CBC News Home sales are showing signs of improvement in the Toronto real estate market, but economists say it's far too early to feel optimistic about the trajectory of a recovery from the devastating effects of the COVID-19 pandemic.