Teriza Botros Real Estate Services’ Post

GTA REALTORS® Release June Stats TORONTO, ONTARIO, July 4, 2024 – Toronto Regional Real Estate Board June home sales in the Greater Toronto Area (GTA) dropped compared to last year, with a 16.4% decline in sales and a slight 1.6% dip in the average selling price. Despite the Bank of Canada's recent rate cut, buyers remain cautious. The market is well-supplied with a 12.3% increase in new listings, offering buyers more choices. TRREB highlights the need for multiple rate cuts to stimulate significant sales growth. The average selling price for June 2024 was $1,162,167. Population growth and government action remain crucial for long-term housing demand and supply. Read more on the Toronto Regional Real Estate Board website https://lnkd.in/e3-DYfAY Teriza Botros Real Estate Services Royal LePage Real Estate Services Ltd., Brokerage (416)919-0464 teriza@royallepage.ca www.terizabotros.com #realestatemarket @thereal_trreb #realtor #ontariorealestate #trreb #marketwatch #realtor #royallepage

𝐆𝐓𝐀 𝐇𝐨𝐦𝐞 𝐒𝐚𝐥𝐞𝐬 𝐂𝐥𝐢𝐦𝐛 𝐢𝐧 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟒: 𝐌𝐨𝐫𝐞 𝐋𝐢𝐬𝐭𝐢𝐧𝐠𝐬, 𝐋𝐨𝐰𝐞𝐫 𝐏𝐫𝐢𝐜𝐞𝐬 Home sales in the Greater Toronto Area increased by 3.3% in July 2024 compared to last year, with 5,391 homes sold. New listings rose by 18.5%, offering buyers more options and a slight price decrease. TRREB President Jennifer Pearce attributes this growth to recent Bank of Canada rate cuts, expecting further acceleration as borrowing costs drop. The average selling price was $1,106,617, down 0.9% from July 2023, while the MLS® Home Price Index Composite benchmark fell by about 5%. TRREB Chief Market Analyst Jason Mercer forecasts stable prices initially, with potential growth as inventory decreases. Read more on the Toronto Regional Real Estate Board website https://trreb.ca/ or reach out to me for more insights and to explore your real estate options; Denise Dilbey Broker; CCIM; SRS; ABR; CIPS: SRES; MCNE; GREEN; FRI www.link2realestate.ca/ Royal LePage Meadowtowne Realty #RealEstate #TorontoHousing #MarketUpdate #TRREB #HomeSales #BuyersMarket #MortgageRates #HousingMarke

🏡 April 2024 Real Estate Update: A Mixed Bag 📉📈 April has been an interesting month for the Greater Toronto Area (GTA) real estate market! Sales dipped by 5% compared to April 2023, signalling a slowdown. However, it's not all gloomy - new listings skyrocketed by 47.2%, providing home buyers more options than ever. 🌟 Despite the increased inventory, average selling prices remained steady, slightly increasing by 0.3% to $1,156,167. A buyer's market is out there, with abundant choices keeping prices stable. 🏠💼 TRREB President Jennifer Pearce hints at a potential rise in demand as we warm up into spring, closely watched by the Bank of Canada's next moves. 🌱☀️ TRREB's Chief Market Analyst Jason Mercer is optimistic about the future, predicting tighter market conditions and renewed price growth as we head into 2025. 📊💡 Yet, challenges remain. TRREB CEO John DiMichele emphasizes the need for policy alignment among all government levels to effectively improve housing affordability and choice. 👥📝 As we navigate through these changing times, it's clear that the journey towards a balanced, accessible housing market continues. Stay tuned for more updates! 🌐🔍 💼 Abhi Trivedi, Broker 📞 647-889-3107 ✉️ realtorabhitrivedi@gmail.com 🔗 www.TeamAbhi.com #TorontoRealEstate #MarketUpdate #HomeSales #NewListings #GTAHomes #RealEstateTrends #AbhiTrivedi #TeamAbhi #HomeLife Miracle Realty #RealEstateTipsByAbhi

The Greater Vancouver Realtors 2024 Second-Half (H2) Forecast is here - The market has shifted in some expected, and unexpected ways since they published the first-half (H1) forecast in January.⁠ ⁠ Key highlights from the report include:⁠ ⁠ - To date, the H1 sales and price forecasts remain (almost) perfectly on-target, but the market balance has shifted from favoring sellers to start the year, towards more balanced conditions.⁠ ⁠ - Inventory levels have breached highs not seen since 2019 as sellers remain keen to list their properties.⁠ ⁠ - Further reductions to the policy rate from the Bank of Canada are expected in the second half of 2024, but it may take more time before these cuts translate to visible signs of increased demand from buyers.⁠ ⁠ Interested to read the entire forecast? Send me a message today! . . . . . #realestate #realestateagent #vancouver #vancouverrealestate #forecast #realestatemarket #realestateinvesting #realestateinvestors

What the ‘HOWELL’ is going on here!! December 12, 2024 Update Yesterday, the Bank of Canada cut the overnight rate by another 50 bps to 3.25%, right to the top end of the BoC’s “neutral” range estimate (2.25% - 3.25%). In this week's update, Clinton shared insights into key indicators the Bank of Canada evaluates when making such decisions, including inflation, the unemployment rate, GDP per capita, and population growth. Watch the video to learn more! RE/MAX Escarpment/Niagara Appointment Centre: As December begins, weekly appointments in the booking center decreased by 8.6%. However, December's monthly appointments are up 3.9% compared to 2023, totaling 2,029 so far. The appointment/sold index rose to 9.1 after two weeks of declines, while sold properties continue to outpace new listings by 17.6%. Burlington Market Update: In Burlington, new listings and sales have declined week-over-week, with a healthy supply level. The absorption rate is 61.92%, indicating a balanced market leaning slightly toward a seller’s market. Hamilton Market Update: Hamilton has seen a decrease in new listings but a slight uptick in sales. While supply remains healthy, it has been on a downward trend in recent weeks. The absorption rate remains steady, reflecting a balanced market with a gentle lean toward sellers. Oakville Market Update: In Oakville, new listings are down, and sales have held steady week-over-week. A slight decrease in the months of supply has been noted, and the absorption rate has climbed above 60%. This aligns Oakville’s market with the balanced yet seller-leaning conditions observed in Burlington and Hamilton. What is happening in the local real estate markets? Get the latest updates on the Burlington/Oakville/Hamilton areas, watch our WEEKLY MARKET UPDATE! #RealEstate #BurlingtonON #HamiltonON #OakvilleRealEstate #MarketTrends #BankofCanada #RealEstateUpdate #BurlingtonMarket #HamiltonMarket #OakvilleMarket #MarketUpdate Burlington Chamber of Commerce The Entrepreneur Nation® RE/MAX Escarpment Realty Inc., Brokerage

October 2024 Greater Toronto Market Watch One month, one big jump in sales volume. Year over year, there has been a 44% increase, however, not surprising. As previously mentioned, there are buyers who have been waiting on the sidelines for a firm decision on the direction of interest rates. They got it with last month's 1/2% Bank of Canada reduction. The announcement may have come closer to the end of the month but the buyers were confident that there was going to be another drop. The question was a 1/4% or 1/2%. These buyers jumped in expecting that after the decrease, additional buyers would jump in creating the beginning of a round of multiple offer situations. And no one likes those! There are still some wrinkles that need to be dealt with especially in the condo market. Namely, many new developments coming to the occupation period where the buyers can no longer get financing. With the number of these units on the market, it is affecting the resale market as well. Mortgages coming up for renewal from investors who are now underwater with rent to costs, also are putting their properties up for sale. This is to mention just a couple. Stay Tuned! If you are thinking of selling, buying or investing or just have a question, please contact me and let's chat. Real Service - Real Purpose - Real Purpose #GTACondos #torontocondoinvesting #torontocondosforsale #gtarealestate #torontohomes #torontorealestateinvestments  #realestate #condoinvestment  #homelife

📊 2024 GTA Housing Market Recap: A Year of Transition 🏠 The Greater Toronto Area (GTA) housing market saw a year of shifts in 2024, marked by increased sales, significantly more listings, and price adjustments. Key highlights include: ➡️ Sales & Listings: Annual sales were up 2.6% year-over-year (67,610 vs. 65,877 in 2023). New listings surged 16.4%, giving buyers more choice and negotiating power. ➡️ Price Trends: The average selling price dipped slightly to $1,117,600 (down <1% from $1,126,263 in 2023). Condo prices saw the biggest declines, while detached homes held their value better. ➡️ Market Dynamics: High interest rates in early 2024 created affordability challenges but improved with two significant Bank of Canada rate cuts in the second half of the year. Single-family home sales rose, while condo sales declined as many first-time buyers waited for further rate relief in 2025. Looking ahead, lower borrowing costs and prices still below historic peaks are expected to improve market conditions in 2025. Interested in learning about what's happening in your specific neighbourhood? Let’s discuss! 💬 #TorontoRealEstate #GTAHousingMarket #MarketTrends #2025Outlook #SothebysInternationalRealtyCanada

Last month's market report for the Greater Toronto Area - April 2024 April's real estate dynamics in the GTA showcased a mix of challenges and opportunities. With a 5% decline in home sales compared to April 2023, the market has shown some cooling. However, the substantial increase in new listings by 47.2% year-over-year provided more choices for buyers, stabilizing the average selling price at $1,156,167. 📈 Market Quick Stats: - Home sales decreased by 5% YOY - New listings rose dramatically by 47.2% YOY - The average selling price slightly increased by 0.3% YOY - Seasonally adjusted, the average selling price rose by 1.5% month-over-month With the spring season in full swing, the market might see an uptick in activity. Experts anticipate that potential cuts in the Bank of Canada's policy rate could invigorate the market further, possibly tightening conditions and fostering price growth as we advance towards 2025. 💬 According to TRREB's Chief Market Analyst Jason Mercer, the increased choice currently available is helping to keep prices stable. Looking ahead, reduced borrowing costs may spur renewed price growth. — *Data sourced from Toronto Regional Real Estate Board (TRREB) — #TorontoRealEstate #MarketUpdate #HomeBuying #PropertySales #TRREB #RealEstateTrends #GTAHomes

We're currently in a buyer's market, with August marking the third month of price decreases after four months of consecutive price gains. August has had major announcements worth noting, namely that BC United has dropped out of the provincial race and is lending its support for the BC Conservatives. With regard to real estate, a change in governance will impact current housing goals, infrastructure plans, tenancy rules, and business confidence. Additionally, the province announced a 3% rent hike for 2025 with a minimum of three-months notice. And as of today, the Bank of Canada reduced rates by 0.25% with the next announcement schedule for October 23rd. Here's the summary for August: 17.1% ↓ in sales since August 2023 (demand) 26.0% ↓ below the 10-year August sales average 37.0% ↑ in listed properties compared to August 2023 (supply) 20.8% ↑ above the 10-year August listings average   The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,195,900. This represents a 0.9% decrease from August 2023 and a 0.1% decrease compared to August 2024. #realestate #vancouverrealestate #realestatenews #vancouvereconomy #metrovancouver #greatervancouverrealestate #firsttimehomebuyer #upsizers #investors #economics #trends #stayingahead #realestateeconomics #RealEstateAgent #August2024 #AugustStats #stayinformed #buyersmarket #nerdnews