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Chestnut Park Toronto Real Estate Update ~ December 2019

January 22nd, 2020
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The December market for residential resale properties came in exactly as anticipated, with substantially higher sales and average sale prices compared to last December, and not surprisingly, the month and year ended with a critical shortage in available resale inventory. 

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In December 4,399 properties were reported sold. This is not a record high for the month, but these sales represen ...

Chestnut Park Toronto Real Estate Update ~ November 2019

December 17th, 2019

The November market report has basically written itself. It is another month with results almost identical to the preceding eight months. Sales were up substantially compared to November last year, and similarly average sale prices also rose.

Specifically, sales rose by almost 15 percent compared to last year, from 6,206 to 7,090 this November. The average sale price rose over 7 percent, from ...

Chestnut Park Toronto Real Estate Update ~ October 2019

November 14th, 2019
October represents eight months of market recovery and stability in the Toronto and area residential resale marketplace. October roared in with 8,491 sales, 14 percent stronger than the 7,448 residential properties reported sold last year and almost 700 more properties than were reported in September. It is now obvious that buyers have adjusted to the mortgage stress test that was introduced ...

Chestnut Park Toronto Real Estate Update ~ September 2019

October 30th, 2019

Toronto and area’s residential resale market, which I have been describing as beautifully boring over the last few months, got a lot less boring in September. Compared to last September, reported sales were up by 22 percent, but more concerning is the fact that average sale prices jumped by almost 6 percent. With salaries and wages increasing by only 3.5 to 3.8 percent affordability and subst ...

Chestnut Park Toronto Real Estate Update ~ August 2019

September 20th, 2019
Happily, the Toronto and area residential resale market place delivered August results as anticipated and in a way that ensures that the resale market will remain stable, sustainable and accessible. The only concern is inventory, particularly in the City of Toronto.

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Sales volumes were up by over 13 percent compared to August 2018, while the average sale price increased by 3.6 percent, righ ...

Chestnut Park Toronto Real Estate Update ~ July 2019

August 25th, 2019
July marks the 5th consecutive month of recovery in the Toronto and area residential resale market place. It started in March with 7,138 reported sales. Since March there have been substantive positive monthly variances compared to 2018, culminating in July’s performance.

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In July there were 8,595 reported sales, a dramatic 24.3 percent increase compared to the 6,916 sales that were repor ...

Chestnut Park Toronto Real Estate Update ~ June 2019

July 5th, 2019
As forecast, the Toronto and area residential resale market delivered its third consecutive strong monthly performance. In June 8,860 properties were reported sold, almost 11 percent higher than the 8,024 properties reported sold last year. On a year-to-date basis, 43,950 properties have been reported sold, a vast improvement over the 39,922 properties reported sold at the midpoint of 2018. A ...

Chestnut Park Toronto Real Estate Update ~ May 2019

June 25th, 2019
For the second month, the Toronto and area market place produced double-digit increases compared to the same month last year. In May 9,989 residential properties were reported sold in the greater Toronto area, a stunning 19 percent increase compared to the 8,402 that sold in 2018. The recovery of the Toronto housing market is due to a number of factors.  The mortgage stress testing rules intr ...

Chestnut Park Toronto Real Estate Update ~ April 2019

May 11th, 2019
April’s housing market results clearly demonstrated that the Toronto and area resale market is strong and robust. As indicated in previous monthly reports, any sluggish behaviour by the resale market was due to a lack of inventory, and not to a decline in buyer demand.


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In April, for the first time in several months, the number of new listings coming to market exceeded expectations. No do ...

Chestnut Park Toronto Real Estate Update ~ January 2019

February 14th, 2019

2019 started positively, surprising many who were anticipating the double-digit declines that the Toronto and area residential resale marketplace delivered in November and December of last year. Although moderate, January delivered increased sales volume and average sale prices compared to January 2018.

 

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There were 4,009 sales reported in January, a less than 1 percent increase compar ...

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