Blog - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale
  • Bosley Real Estate
  • 30 August 2016

Webster’s Dictionary has two definitions for the word “drought”. The first is a long period of time during which there is very little or no rain and the second is a prolonged or chronic shortage or lack of something expected or desired. Toronto, it seems suffers both. Not only has it been the driest summer in recent memory, we are also suffering through the longest listing drought on record. Maybe there is some good news on the horizon; It is bound to rain eventually and the fall market is closing in. The question is... will it be enough to quench our housing desires?

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  • Bosley Real Estate
  • 24 August 2016

No question about it, if you like it dry, hot and sunny then this has been the best summer ever. If you’ve lost out on multiple offers and are frustrated with the low inventory of homes then this has been the worst summer. While the weather is likely to cool, we don’t expect inventory levels to pick up significantly in the near future.

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  • Bosley Real Estate
  • 11 August 2016

Well if you felt that the real estate market in Toronto was cooling off a bit, you may be right. All signs point to a traditional summertime cooling that we have experienced for the past 20 years, although this one feels a little different. Despite the fact that new listings were down by 7.4% and the number of active listings was down a staggering 31.9% the Toronto Real Estate Board actually reported the best July on record with nearly 10,000 homes traded. What this essentially means is that buyers are continuing to dig into existing homes for sale and driving down the available inventory to below 1.7 months. In simple terms, if no new properties came to market from this point forward, there would be nothing available to buy in roughly 50 days!

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