Bosley Real Estate Market Insight - October 25th, 2019 - 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 Market Insight - October 25th, 2019

25 October 2019
Bosley Real Estate

MARKET UPDATE FOR THE WEEK ENDING OCTOBER 25TH, 2019

With no distractions to stand in our way for at least the next month or so we should see a return to a more customary fall market. No more holidays and disruptions just a steady pace of more listings and sales to continue. With two months left in 2019 there is still plenty of transactions on the horizon and our research shows there are plenty of buyers waiting for the perfect home.

Last week freehold listings shot up 53% considering the prior three weeks were sluggish. The crowd of hopeful sellers all waited to list their properties as soon as Thanksgiving was over. Certain neighbourhoods are still crazy busy, especially Riverdale/Leslieville where “special” properties are getting snapped up in a day. We are seeing sale prices surpass the craziness of the early days of 2017. Again, with the shortage of listings we are experiencing very localized market conditions.

The condo sector held steady in terms of new resale listings as the number of available suites dropped a marginal 5% from the previous week. Sales were also down however the demand is still visible with 44% of units selling at or above the list price. CMHC is forecasting a robust market for the next two years. Conditions in Toronto mean first-time buyers are likely to face stiffer competition for homes therefore looking for more affordable types of housing like condos. Condo prices will remain strong because they feed the demand for homebuyers but also investors buying to rent out their unit.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

Here Are The Top Five Trending Stories Of The Week:



Federal Foreign Buyers Tax Among The Changes Headed For Canadian Real Estate After Election

”The re-election of Justin Trudeau’s Liberals on Monday will likely result in potential new barriers for foreign real estate investors as well as some help for first time buyer, but not the more significant changes that opposition parties had promised.”




Canada’s Hottest Housing Markets: The Maritimes Rule (Yes, Really)

“The West is out, and the Maritimes are in.That’s the broad view of Canada’s housing markets in a new comparison from Scotiabank, which found that things sure have changed in Canada’s housing markets since a policy-induced slowdown hit Toronto and Vancouver over the past few years.”



Tarion to add condo cancellation warnings to purchase agreements

“Ontario homebuilder regulator Tarion is adding a new form to pre-construction condo purchase agreements that it says will help alert consumers to the risk that a project may never be completed.”




Canadian Real Estate Prices Are Seeing Slow Growth, But It’s Still Growth

“Canadian real estate prices are pushing to new highs – just not in Western Canada. The Teranet–National Bank of Canada House Price Index (TNB HPI) is showing prices increasing across the country in September. The growth was much slower than usual for this time of year though, weighed down by weak performance in Western Canada.”



Canadian Real Estate Sales Jump To 2016 Levels, But Industry Cautions Market

“Bank of Canada Target Rate (and Bank Prime Rate) hikes have been paused since October 2018, but when rate changes resume, most analysts expect rates will drop, likely in response to a an economic slowdown.”