fbpx

Blog

Recent Posts

October 26, 2023

OPEN HOUSE – 24 Benson Ave, Toronto SATURDAY October 28 (2pm – 4pm)

You are going to fall in love with this fully renovated 3 bedroom semi on premium Benson Ave in Wychwood! Located directly across the street from the historic Wychwood barns & park and walking distance to TTC, restaurants & shops. Stunning & bright open concept main floor with modern metal and glass railings, hardwood flooring […]
October 26, 2023

Bank Of Canada Holds Key Interest Rate At 5% For The Second Time

If you’ve been following the Toronto real estate market, you will likely be aware of the number of key interest rate hikes that the Bank of Canada has implemented since its first rate hike on March 2, 2022. If you haven’t been paying attention to the Toronto real estate market, interest rates or the economy […]
October 21, 2023

NEW PRICE! OPEN HOUSE 289 Springdale Blvd, Toronto SUNDAY October 29 (2pm – 4pm)

WARMTH + CALM Thoughtfully designed and meticulously executed! 289 Springdale Blvd! The feeling of home; warmth + calm! Thoughtfully designed and meticulously executed! This extensive renovation focuses on the function + ease of daily living with great attention to natural light + aesthetics. All completed with permits! Conveniently located on on coveted, quiet Springdale, just […]
March 27, 2023

Multiple Offer Transparency On The Way, But Will It Help?

If you’ve taken part in a Toronto multiple offer situation (“bidding war”) in the past, you can very likely relate to the frustration that many buyers feel when blindly bidding on a home while competing with other offers. The method of listing low and holding an offer date without disclosing the details of multiples offers […]
March 14, 2023

CIBC’s Rate Forecast & Incoming Immigration Will Play A Big Part In Toronto’s Future Real Estate Market

CIBC Bank recently released the following forecasted rates in the chart below. Although these figures are simply estimates, many in the financial and lending world agree that 4.5% will become the new normal key interest rate and that we likely won’t see a reduction in rates until mid to late 2024. We are unlikely to […]
March 11, 2023

Chestnut Park Real Estate (Toronto Market Report – February 2023)

There is no point in comparing February 2023 with February 2022. February 2022 was the apogee of the pandemic residential real estate market. The average sale price achieved last February, $1,334,544, remains, and will for some time, the all time monthly average sale price record. Interest rates were at an all time low, the Bank […]
February 20, 2023

Chestnut Park Real Estate (Toronto Market Report – January 2023)

As forecast in December, the slumping resale market of 2022 continued into the first month of 2023. Compared to January 2022, sales of all property types declined by almost 45 percent. Due to the extraordinarily strong pandemic market early last year, on a year-over-year basis sales volumes will post substantial negative variances until at least […]
January 20, 2023

Canada’s Anti-Flipping Tax

The Canada Revenue Agency has taken a stance against real estate flipping with the introduction of Canada’s new anti-flipping tax which took effect January 1, 2023. This new tax seeks to curb profiteering within Canada’s housing market by taxing property sales for properties that sell within 12 months (365 days) from the date of the previous […]
January 05, 2023

Chestnut Park Real Estate (Toronto Market Report – November 2022)

The Toronto and area residential resale market limped to the end of 2022, a continuation of the pattern that became clear and established as interest rates began to rise in March of this year. As the Bank of Canada continued its punishing benchmark rate hikes, both sales and average sale prices have been decimated. Once […]
January 02, 2023

Toronto Vacant Home Tax – Everything You Need To Know

Toronto is a city that attracts people from all over the world and it has continuously been experiencing rapid growth over the last several decades. However, in some parts of Toronto and the GTA, this growth has also come with a downside: an increasing number of vacant homes. To combat this issue and encourage owners […]
December 16, 2022

Upper Beaches Neighbourhood – Community Highlight

As someone who lives and works in the Upper Beaches neighbourhood, I can’t say enough good things about this amazing community. From the historical and charming homes that date back to the 1800’s and 1900’s, to the 100 year old Norway Maple trees that line the streets, to the great parks for children and pets, […]
December 14, 2022

Chestnut Park Real Estate (Toronto Market Report – November 2022)

In November only 4,544 residential properties were reported sold for the greater Toronto area. This is the lowest number of monthly sales recorded in 2022 and almost 50 percent fewer than the 8,979 sales reported for the same month last year. It has been almost 15 years since the market has seen numbers as low […]
December 07, 2022

Downsizing From A Home To A Condo In Toronto

The thought of downsizing from a home to a condo can be overwhelming but the time does eventually come to do so. Maybe you’re tired of maintaining a large home that was once perfect for your growing family or you simply want to free up some of the equity in your home so you can […]
November 21, 2022

Your Winter Home Maintenance Checklist

With the cold temperatures and the snow already on the ground, it’s important to go over your winter home checklist to ensure your Toronto home is prepared for this winter season. In order to help you prepare, I have put together this winter home maintenance checklist which includes tasks to consider prior to winter as […]
November 20, 2022

What Is A Garden Suite?

You may have heard the term “garden suite” lately and wondered what is a garden suite? That’s a great question and it’s important that you know the answer if you own real estate in Toronto. In order to bring you up to speed with this hot topic, I’ve put together this blog in order to […]
November 18, 2022

How Much Is Land Transfer Tax?

Are you looking to purchase property in the Toronto area? If so, you may have heard of Land Transfer Tax (LTT) and its importance when it comes to closing on a real estate transaction. This blog post will provide an overview of what Land Transfer Tax is, how much it costs, who pays for it, […]
November 15, 2022

What’s The Difference Between A Listing Agent And Buying Agent?

What’s The Difference Between A Listing Agent And Buying Agent? Historically speaking, more agents used to designate themselves as either a listing or buying agent. However, times have changed with more agents offering both services to their clients these days. With that being said, there are still agents who focus only on listing properties for […]
November 10, 2022

Chestnut Park Real Estate (Toronto Market Report – October 2022)

As forecast in our September Market Report, sales have continued to decline on a year-over-year basis. In October 4,961 properties were reported sold in the greater Toronto area, almost 50 percent fewer than the 9,743 properties that changed hands last October. The decline in sales is a continuation of a pattern that started in March […]
November 08, 2022

All About The Port Lands Revitalization Project

If you live in Toronto, you have likely noticed all of the construction taking place in the Port Lands just south of Toronto’s historical Distillery District. What you are witnessing is the massive Port Lands revitalization project which will completely transform this part of Toronto. What Is The Port Lands Revitalization Project? The Port Lands […]
November 07, 2022

Should I Get Pre-Approved For A Mortgage?

“Should I get pre-approved for a mortgage?” This is a common question that buyers often ask themselves, particularly if they are new to buying real estate in Toronto. If you’ve been considering purchasing your first property or you are looking to make a move to a larger home, you may have wondered if you should […]
November 05, 2022

Why You Should Use A Local Real Estate Agent

If you’re thinking about buying or selling real estate in Toronto, it’s important to understand why you should use a local real estate agent and not an agent from out of town (even if it’s your friend, cousin or sister etc). Lately, I’ve been seeing many agents advertising that they work in various parts of […]
November 02, 2022

What If The Buyer Doesn’t Deliver The Deposit?

As a full time real estate agent, my seller clients often ask me “what if the buyer doesn’t deliver the deposit?”. This is a great question and if you are wondering the same thing, I’ve included an explanation below. I completely understand the stress that sellers may feel when waiting for the deposit to be […]
November 01, 2022

Canada’s Two Year Ban On Foreign Buyers

If you’ve been following the recent headlines in Canadian real estate news, you may have heard about Canada’s two year ban on foreign buyers. The  “Prohibition on the Purchase of Residential Property by Non-Canadians Act” will take effect January 1, 2023 and is to be in place for a minimum of at least two years. […]
October 29, 2022

When Do You Have To Pay Capital Gains Tax?

When it comes to paying taxes, Canadians are used to footing the bill for income tax. But what about capital gains tax? When do you have to pay capital gains tax? This unique tax is applied to profits made from the sale of certain assets, such as stocks and real estate. While the rate of […]
October 27, 2022

Restaurants In The Beaches

As someone who lives in The Beaches and as an agent who works in the community, my clients often ask for suggestions regarding different restaurants in The Beaches, especially if they are new to the area. One of the things I love the most about living and working in this part of the city is […]
October 25, 2022

Who Is The Best Toronto Real Estate Agent?

If you’ve come across this blog post you’re likely either looking to hire “the best Toronto real estate agent”, you’re just curious to know who the best Toronto real estate agent is or you’re a real estate agent checking to see if Google has you listed as “the best Toronto real estate agent”. Regardless of […]
October 23, 2022

What Is A 3D Virtual Tour?

Whether you are looking to buy a home or sell your home in Toronto, you may have wondered “what is a 3D virtual tour?”.  Although this technology isn’t new, it has become extremely popular over the last several years due to the pandemic restrictions that took place. The industry leader responsible for providing this technology […]
October 19, 2022

Divorce And Selling Your Home

Divorce and selling your home can be two very emotional and overwhelming experiences, but with the right help, you can avoid costly mistakes in order to make the process as stress-free as possible. As a Toronto real estate agent who has assisted clients with selling their homes due to divorce, I understand how stressful the […]
October 17, 2022

New And Important Exclusive Listing Rules Announced By CREA

UPDATE: Since the time that this blog was originally posted, CREA has clarified that one to one marketing between agents at different brokerages will be permitted. The Canadian Real Estate Association (CREA) recently released the announcement below to all Ontario real estate agents informing them of changes that will become effective starting January 2023. These […]
October 16, 2022

What Is Virtual Staging?

If you’ve been considering selling your home and have completed some preliminary research as to what the process is, you may have come across the term “virtual staging” and wondered “What is virtual staging?”. I have put together this blog post in order to help you understand what virtual stating is along with the pros […]
October 15, 2022

How To Choose The Right Contractor

Understanding how to choose the right contractor can be a daunting task. You want to make sure you get the best value for your money, and that the job is done correctly. Before starting my career in real estate, I owned a design and build company that specialized in a wide range of projects. Whether […]
October 14, 2022

Chestnut Park Real Estate (Toronto Market Report – September 2022)

In September 5,038 residential properties were reported sold in the greater Toronto area. This is the lowest number of recorded sales for September since 2001 when only 5,021 properties were sold. This data is even more dramatic and the decline is more striking when correlated to the greater Toronto area’s population. In 2001 Toronto’s population […]
October 12, 2022

Your Fall Home Maintenance Checklist

The mornings are brisk, the leaves have started changing to beautiful vibrant colours and we begin to see our breath. It’s hard to believe but it’s that time of year again, the time to look over your fall home maintenance checklist. Below is a list of items you will want to consider addressing this fall […]
October 11, 2022

10 Best Ways To Declutter Your Home

Are you feeling overwhelmed by the clutter in your home? If so, you’re not alone. Clutter can be more than just an eyesore. It can actually make you feel stressed and overwhelmed, leading to decreased productivity and even health problems. If you’re looking for ways to declutter your home, check out these 10 tips! 1. […]
October 08, 2022

Appraised Value Vs Market Value

Understanding the difference between appraised value vs market value is extremely important when buying and selling real estate in Toronto. With rising interest rates and the market shifting (as of the time this blog post is being written), we are now seeing more appraisals being required by lenders. If you are buying a home or […]
October 02, 2022

New Condos And Developments Coming To Toronto’s Distillery District

If you are fortunate enough to live in Toronto’s Distillery District or if you frequently visit this popular neighbourhood, you may have noticed some new developments taking place in the area and you may have wondered what is being built. As a full-time Toronto real estate agent who works in Toronto’s Distillery District and who […]
September 17, 2022

Can A Buyer Back Out Of A Real Estate Deal?

You’ve sold your home and are excited about the fact that you sold for well over your list price and in a short amount of time. You’ve popped the champagne and put the “SOLD” sign up, it’s now time to start thinking about your move to your new home. Your agent removes all of the […]
September 15, 2022

Pet Stores In The Beaches (Lifetyle)

If you live in The Beaches, you are likely well aware that it is a very pet friendly community. During all months of the year, residents walk their dogs along Queen Street East, through Glen Stewart Ravine and along the boardwalk. You yourself may even be one of these furry friend lovers who enjoys taking […]
September 14, 2022

What Is A Status Certificate?

If you’ve considered buying a condo and have completed some preliminary research regarding the process of buying a condo, you may have come across the term “status certificate” and wondered what a status certificate is. If you decide to purchase a condo, you definitely should understand what a status certificate is and why it is […]
September 10, 2022

What Is A “REIT” And Why You May Want To Invest In One

Have you completed some research on how to invest in real estate and seen references to the term “REIT” and wondered what it is? The acronym “REIT” stands for Real Estate Investment Trust. A REIT is modelled after mutual funds and they finance, purchase, own and operate properties that generate income. REITs are a popular […]
September 07, 2022

Calculate Cash Flow Of An Investment Property

If you’re considering the possibility of buying an investment property in Toronto, it’s important that you understand how to calculate cash flow of an investment property. As a landlord, you ideally want to have positive cash flow and not be breaking even each month, or even worse, your property being vacant or your tenant being […]
September 06, 2022

Top 10 Toronto Storage Companies

Whether you live in a condo or a smaller home with little storage space, you likely are in need of somewhere safe and clean to store your extra belongings. It may be your winter skis during the summer months, bikes during the winter months or maybe it’s boxes of old photo albums filled with memories […]
September 05, 2022

Top 10 Ways To Increase The Value Of Your Home

If you’ve had any thoughts of potentially selling your Toronto home now or in the near future, you may have wondered what you can do to increase the value of your home in order to ensure that your home sells for top dollar. Over the last decade or so, Toronto real estate has been on […]
September 04, 2022

Chestnut Park Real Estate (Toronto Market Report – August 2022)

It is difficult to provide a monthly market report, in this case for August, with all the economic and destabilizing changes that are impacting the Toronto and area housing market. The salient data is clear, as the chart below indicates. The residential resale housing market has changed dramatically since last year. Sales are down, the […]
September 01, 2022

Top Cottage Destinations Near Toronto (Lifetsyle)

Living and working in a busy and vibrant city like Toronto is enjoyable for the most part, however, there are often times when you could use some fresh air along with some peace and quiet. Escaping to cottage country is one of the best ways to reconnect with nature and recharge. Whether you are looking […]
August 30, 2022

Top 10 communities in the GTA with GO stations

Whether it be the high Toronto real estate prices, the chaotic energy of the city or the need for a larger home with a yard, there are many reasons why some Toronto residents trade the convenience of living in the city with living in a smaller community, despite having to commute into the city for […]
August 28, 2022

How To Win A Bidding War In Toronto

With Toronto being one of the hottest real estate markets with a level of demand that the supply can’t seem to keep up with, there’s no surprise that buyers often end up in a bidding war against other buyers. I often tell my buyer clients that buying a home in Toronto is a process, one […]
August 25, 2022

What Is A Pre-List Home Inspection?

You may or may not have heard the term “pre-list home inspection” before and wondered what it is and what it’s used for if you don’t already know. A pre-list home inspection is an inspection that the listing agent typically arranges for their seller client prior to the property being listed for sale on MLS. […]
August 20, 2022

Why Isn’t My Home Selling?

So you’ve gone through the process of hiring a Toronto real estate agent, decluttered and staged your property to ensure that it’s in top showing condition, the “For Sale” sign goes in the lawn and the listing goes live on MLS, you are excited to see how many showings and offers you receive, but you […]
August 15, 2022

What Is CMHC Insurance And How It Affects You

If you’re thinking about buying a home in Canada, one of the most important things to understand is the difference between insured and uninsured mortgages. Below is what you need to know about CMHC insurance. What is CMHC insurance and why do you need it: CMHC insurance is a type of mortgage default insurance that […]
August 04, 2022

Chestnut Park Real Estate (Toronto Market Report – July 2022)

For the fourth consecutive month the Toronto and area resale housing market produced declining sales and lower average sale prices. The housing market peaked in February for average sale prices, in March for monthly reported sales. In February the average sale price for the greater Toronto area came in at an incredible (and unsustainable) $1,334,000. […]
July 15, 2022

Why didn’t I get any offers on offer night?

You put in a lot of work to declutter your home and prepare it for showings, you hired a realtor, your realtor staged your place and put together some great marketing materials and you had a week of showings, offer night comes along and you are excited to see how many offers you receive, but, […]
July 04, 2022

Chestnut Park Real Estate (Toronto Market Report – June 2022)

Not unexpectedly June produced a substantial negative variance when compared to the numbers that the Toronto and Region residential resale market produced in June of 2021. Rising mortgage interest rates have over the last three months caused sales to drop fairly precipitously, and although sales prices are off from their high of February of this […]
June 10, 2022

Should I Have An Open House?

Some common thoughts that may go through your head once you’ve decided to list your home for sale and have considered holding an open house are: Do I really want strangers walking through my home? Are people going to make a mess of my home? Will my belongings be safe? Should I even have an […]
June 04, 2022

Chestnut Park Real Estate (Toronto Market Report – May 2022)

There were no surprises in the May residential resale market data. As a result of rising mortgage interest rates, a process that started in March, the number of properties sold has declined, and average sale prices have moved downward from the record-breaking highs of February. During the month of February 9,052 homes were reported sold […]
June 01, 2022

5 Reasons Why You Should Get A Building Permit

You might think to yourself that obtaining a permit is nothing but a pain in the butt and that you can probably complete the work without obtaining a permit or a bylaw officer ever finding out that you did the work. However, there are several costly issues that you could run into if you don’t […]
May 18, 2022

Beach Safety – Identifying Rip Currents

It’s no secret that living by the beach has its perks. From the incredible sunrises to the sound of waves crashing against the shore, there are plenty of reasons why people choose to live near the water.  As someone who lives and works in The Beaches area, one of the reasons I love living in […]
May 04, 2022

Chestnut Park Real Estate (Toronto Market Report – April 2022)

As forecast, the rising mortgage interest rates (not to mention other factors at play, like the war in the Ukraine, inflation, and ongoing supply chain problems) had a direct impact on the number of residential properties reported sold in April. At the end of April, the five-year fixed mortgage rate was 4.19 percent. In February […]
April 15, 2022

Should I Buy A House Or Condo?

Should I buy a house or condo? is a common question amongst buyers. When it comes to making one of the biggest decisions in your life, whether buying a house or condo, there are a lot of things to consider. Which is the right choice for you? Here’s a look at some of the pros […]
April 06, 2022

Top 10 Patios In The Beaches

It’s that time of year, the time of year when the air is getting warmer, the days are longer and people are excited about getting outside after a long winter. Spring and summer are the perfect seasons to enjoy a meal outdoors on a restaurant patio with friends and family. Whether you’re looking for an […]
April 04, 2022

Chestnut Park Real Estate (Toronto Market Report – March 2022)

In the face of daunting obstacles, the Toronto and area residential resale market produced stellar results, albeit not the stratospheric results achieved during the same period last year. In the face of rising interest rates, the war in Ukraine and its global consequences, government legislation primarily directed against foreign buyers and investors, and a desperate lack of inventory, […]
March 04, 2022

Chestnut Park Real Estate (Toronto Market Report – February 2022)

It’s now official, the most expensive city in Canada, at least from a housing perspective, is Toronto. February’s resale market performance pushed Toronto prices to new records, breaking records achieved only last month in January. The reasons for this unbelievable increase in prices have been historically low interest rates, a lack of supply, continued growth […]
February 23, 2022

What Is A Stress Test?

If you’ve been considering buying or refinancing any time soon, you may have come across the term “Stress Test” and wondered what is a stress test and why does it matter to you. We aren’t talking about a medical stress test, although many of us may need one if the home prices keeps rising at […]
February 04, 2022

Chestnut Park Real Estate (Toronto Market Report – January 2022)

There were a few surprises and once again a number of new records established by the Toronto and area residential resale market in January. First, and very noteworthy, was the average sale price for all properties reported sold. It came in at an eye-popping $1,242,793, surpassing the previous record of $1,163,210 achieved in November of […]
January 29, 2022

SHOULD YOU WAIT TO SELL YOUR HOME?

“Should I wait to sell my home?” This is a common question that I have been asked by my current clients and new clients who have been considering selling. I also see people asking this same question in various community group pages on social media sites. It’s clearly a common question these days for many […]
January 21, 2022

TOP 10 NEW HOMEOWNER TIPS

You’ve just moved into your new home and you’re over the moon excited. Congratulations on your new home, this is definitely one of the most exciting times of your life, take a moment to soak in the moment, times like these are precious! With all of the commotion and excitement, you’re likely not thinking straight […]
January 20, 2022

5 COMMON SELLER MISTAKES AND HOW TO AVOID THEM

The thought of selling your home can be exciting, but in reality, it can also be very stressful and costly if not done properly. Avoiding common mistakes when selling can help make your selling experience a positive one and keep more money in your pocket. Below are 5 common mistakes that sellers make and how […]
January 18, 2022

Should I Stage My Home When Selling?

Staging your home, even in a hot seller’s market is always recommended!  Even though the market may be hot with lots of demand, staging your home will help your home stand out from the competition. Remember, you only get one chance to make a good first impression. If you want to sell your home for […]
January 17, 2022

10 TIPS To Protect Your Home And Your Family During a Winter Storm

With all of the snow that has fallen over night and which continues to pile up, as beautiful as it may be, it can be hazardous to your home and even your health! Below are 10 tips on how to protect your home and your family from snow and water during a snow storm. 1) […]
January 10, 2022

Daycares And Preschools In The Beaches & Upper Beaches

As a parent of two young children, I understand how stressful it can be to find the right daycare for your child. I recall my wife and I spending countless hours doing research on the various different options and finding the process quite consuming and confusing at times. At the end of the day, we […]
January 06, 2022

How Much Homes Sold For In The Upper Beaches In 2021 (BY STREET)

The Upper Beaches community is one of Toronto’s most popular neighbourhoods amongst  buyers, especially young professionals looking to transition from condo living to a freehold home. With its enchanting tree-lined streets, historical homes that date back to the 1800’s, spacious parks, family friendly and dog loving neighbours, it’s no surprise that so many buyers want […]
January 04, 2022

Chestnut Park Real Estate (Toronto Market Report – December 2021)

In 2021 we experienced an unprecedented residential resale market. More records were shattered in 2021 than in any other year of record keeping – sales prices, properties sold, and, unfortunately, inventory levels all established new records. As we end 2021 and move into 2022, it will be inventory that will have the greatest impact on […]
January 03, 2022

How Much Homes Sold For In The Beaches In 2021 (BY STREET)

The Beaches community is one of the highest sought after neighbourhoods for buyers in Toronto. With its beautiful tree-lined streets, charming and historical homes, long historical boardwalk, stunning sunrise views from the beach, winter warrior surfers, family friendly and dog loving neighbours, there’s no surprise that so many people want to live in this charming […]
December 12, 2021

Chestnut Park Real Estate (Toronto Market Report – November 2021)

With one month still remaining in 2021, November’s reported sales brought the total year-to-date sales to 115,716 residential properties sold. We will finish the year with approximately 122,000 sales, eclipsing the previous annual record for properties sold in 2016. In that year 113,040 properties traded hands. As will become evident, given the supply problems the […]
December 02, 2021

Top 25 Real Estate Questions And Answers

Whether you are selling or buying real estate in Toronto, the real estate world can be a confusing place for those who aren’t already familiar with it.  Below is a list of the top 25 real estate questions I receive from both buyers and sellers on a daily basis as well as the answers to […]
November 20, 2021

The Reality of Online Home Estimates

If the last year has taught us anything, it’s the 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘤𝘦 𝘰𝘧 𝘱𝘦𝘳𝘴𝘰𝘯𝘢𝘭 𝘤𝘰𝘯𝘯𝘦𝘤𝘵𝘪𝘰𝘯. With so many meetings, gatherings and even family holidays turned into virtual events, we’ve missed out on the sights, the smells, the noise, and the handshakes and hugs. We’ve missed out on these experiences. Technology just can’t replace personal connection. Similarly, […]
November 15, 2021

What is a “Pocket Listing”?

Also known as “off-market” listings, these homes may be for sale but are not listed on the multiple listing services (MLS) or REALTOR.ca. Yes, you read that correctly, the MLS does not account for every property on the market. Off-market property sales happen more frequently than many people realize. Sellers most commonly choose to list off-market […]
November 09, 2021

7 Steps To Buying A Home In Toronto

Have you been thinking about possibly buying a home in Toronto and aren’t quite sure what the process looks like? The thought of buying a home can be daunting and sometimes scary when you don’t know what to expect. With very little supply and currently record low inventory of available properties in Toronto, it may […]
November 07, 2021

Check The Fireplace Before You Submit An Offer

It’s now the time of year when we can enjoy warm cozy fires while we escape the cooling outdoor temperatures on a brisk autumn evening. You know, one of those nights that you pour yourself a drink, sit back and watch a movie or the Leafs as the fire crackles. Many of the homes in […]
November 04, 2021

Chestnut Park Real Estate (Toronto Market Report – October 2021)

In the September Market Report, five themes that were driving the Toronto and area marketplace were identified. These themes have become prominent during the course of 2021 and it is becoming evident that they will be the key features of the residential resale market for the remainder of 2021 and into the early months of […]
October 15, 2021

The Importance Of A Good Credit Score

The importance of a good credit score is one of the most important considerations in life. Your credit score can determine whether you can get a loan, how much you will have to pay for that loan, and even whether you can rent an apartment. Your credit score is also a measure of your financial […]
October 04, 2021

Chestnut Park Real Estate (Toronto Market Report – September 2021)

The residential resale market rebounded in September after five months of declines in sales and the lull of the summer months. There were 9,046 sales reported in September, 18 percent fewer than reported last year, but more than 5 percent higher than the 8,580 reported sales in August, the first month-over-month increase since the early […]
September 04, 2021

Chestnut Park Real Estate (Toronto Market Report – August 2021)

A number of themes became clear in August, themes that will drive and impact the Toronto and area residential resale market for the remainder of this year and no doubt into 2022. The first and most important is supply. In August only 10,609 new properties came to market. This contrasts sharply with the 18,599 that […]
August 04, 2021

Chestnut Park Real Estate (Toronto Market Report – July 2021)

In some ways the July resale market’s performance was anticlimactic. We could see it unfolding in June, and as a result, there were few surprises. Sales continued their decline – in June 11,106 properties were reported sold, dropping to 9,390 in July, but still a strong month by historical standards. The record for reported sales […]
July 04, 2021

Chestnut Park Real Estate (Toronto Market Report – June 2021)

There were 11,106 resale properties reported sold in June in the greater Toronto area. In the City of Toronto 3,850 properties changed hands. In both areas, these numbers were substantially lower than the astronomical peak achieved in March. Having said that, sales activity in June was only outpaced by June sales achieved in June 2016. […]
June 04, 2021

Chestnut Park Real Estate (Toronto Market Report – May 2021)

The Toronto and area residential resale marketplace continued its slide towards a more normal but still very strong market. In May 11,951 properties were reported sold, a decline of more than 12 percent compared to the 13,650 properties reported sold in April, and a decline of more than 23 percent compared to the record breaking, […]
May 04, 2021

Chestnut Park Real Estate (Toronto Market Report – April 2021)

Market reports rely heavily on comparisons to the same month the year before. Comparing April 2021 to April 2020 would be pointless. Last April we were in the darkest period of the Pandemic. Buyers, sellers, and their realtors were developing and adapting to new, restrictive, and demanding industry protocols. As a result, there were fewer […]
April 04, 2021

Chestnut Park Real Estate (Toronto Market Report – March 2021)

Just when you think the Toronto residential resale market can’t reach new heights, it surprises us again. March was not only strong but it shattered records, something that is becoming a common occurrence. In March 15,652 homes were reported sold, an all-time monthly record and 97 percent more than the 7,945 properties sold last March. […]
March 04, 2021

Chestnut Park Real Estate (Toronto Market Report – February 2021)

Is it really February? The Toronto and area residential resale market certainly did not behave as if it was. Actually, it was more reminiscent of a crazy spring market, and even then, it outdistanced most spring markets that we have recently experienced. In February 2021, 10,970 properties were reported sold in the greater Toronto area. […]
February 04, 2021

Chestnut Park Real Estate (Toronto Market Report – January 2021)

Once again, the Toronto and area resale market delivered eye-popping results. As compared to last January sales were up by over 52 percent and the average sale price increased by almost 16 percent. In absolute numbers January produced an unprecedented 6,928 sales – there were only 4,546 last year – and the average sale price […]
January 04, 2021

Chestnut Park Real Estate (Toronto Market Report – December 2020)

December’s Toronto and area residential marketplace exhausted all the superlatives that we would normally apply to a robust resale market. Not only was December’s housing market strong by historical standards, but it dramatically exceeded historic norms, performing more like a spring market than what we have come to expect of property sales during the holiday […]
December 04, 2020

Chestnut Park Real Estate (Toronto Market Report – November 2020)

The Toronto and area residential resale market continued its torrid pace in November, defying all expectations and forecasts. It wasn’t, however, homogenous in its performance, with different housing types and areas performing at dramatically different levels. Overall, reported sales for the greater Toronto area were up a scorching 24.3 percent compared to November 2019. Last […]
November 04, 2020

Chestnut Park Real Estate (Toronto Market Report – October 2020)

It was no surprise that October’s resale market results continued the record pace that began in June. Reported sales hit a new high in October, with 10,563 residential properties trading hands during the month, a 25 percent increase compared to last year.  Not only were sales volume at record levels, but average sale prices also […]
October 04, 2020

Chestnut Park Real Estate (Toronto Market Report – September 2020)

We have run out of superlatives to describe the greater Toronto residential resale marketplace. Records have been broken consistently for the last few months, and September was no exception. Two records were shattered in September: most sales ever recorded for the month, and the highest average sale price for all properties reported sold. In September […]
September 04, 2020

Chestnut Park Real Estate (Toronto Market Report – August 2020)

Another astounding month for the Toronto and area residential resale market place. August broke two records: one for most sales ever recorded for the month of August and two, the highest average sale price for all properties sold in the history of record-keeping for the Toronto and area market place. Toronto and area realtors reported […]
August 04, 2020

Chestnut Park Real Estate (Toronto Market Report – July 2020)

July’s residential resale market performance was record-breaking. Almost 11,100 properties were reported sold, a 28 percent increase compared to the 8,679 properties sold a month earlier. Compared to July 2019, sales improved by almost 30 percent. There were 8,555 residential properties reported sold last year. July’s numbers are the clearest indication as to the robustness […]
July 04, 2020

Chestnut Park Real Estate (Toronto Market Report – June 2020)

By any standards, the residential resale market’s recovery in June was nothing but phenomenal. The lockdown and emergency measures implemented by the Province in mid-March literally brought the market to a standstill. It stayed that way throughout April, but by early May, we could sense recovery. By May the industry, agents, buyers and sellers had […]
June 04, 2020

Chestnut Park Real Estate (Toronto Market Report – May 2020)

The residential resale market recovered dramatically from the lows experienced in April. In April only 2,975 properties were reported sold for the entire greater Toronto area. A typical April market would produce 9,000 plus sales. April’s decline compared to April 2019 was a shocking 67 percent. In May the resale market demonstrated its resiliency, both […]
May 04, 2020

Chestnut Park Real Estate (Toronto Market Report – April 2020)

The Toronto and area resale market performed as expected in April. As reported in our March report, the implementation of the emergency lockdown measures had a crushing impact on the resale housing market. With most businesses closed and more than three million Canadians unemployed there was no reason to believe that the resale market would […]
April 04, 2020

Chestnut Park Real Estate (Toronto Market Report – March 2020)

Until the Ontario Provincial Government declared a state of emergency, the Toronto and area residential resale market was on course to produce one of the strongest, most robust markets on record, including the establishment of a record-breaking monthly average sale price. All that changed around the middle of the month as people began following provincial […]
March 04, 2020

Chestnut Park Real Estate (Toronto Market Report – February 2020)

It is not surprising that February was one of the strongest and most robust resale months since April 2017. What is surprising is that the market unfolded in a landscape of low resale housing supply and record-breaking average sales prices. February saw 7,256 properties reported sold, almost 2,000 of which were condominium apartments. This is […]
February 04, 2020

Chestnut Park Real Estate (Toronto Market Report – January 2020)

A new decade, but little change in Toronto’s residential resale market. As anticipated in my December Market Report, January came in strong with 4,581 sales in the greater Toronto area. This was a stunning 15.4 percent increase compared to the 3,968 sales reported for January last year. Enthusiasm should be slightly muted, given the fact […]
January 04, 2020

Chestnut Park Real Estate (Toronto Market Report – December 2019)

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. In December 4,399 properties were reported sold. This is not a record high for the […]
December 04, 2019

Chestnut Park Real Estate (Market Report – November 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 […]
November 04, 2019

Chestnut Park Real Estate (Toronto Market Report – October 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 […]
October 04, 2019

Chestnut Park Real Estate (Toronto Market Report – September 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 […]
September 04, 2019

Chestnut Park Real Estate (Toronto Market Report – August 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. Sales volumes were up by over 13 percent compared to August 2018, while the […]
August 04, 2019

Toronto Market Report – July 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. In July there were 8,595 reported sales, a dramatic 24.3 percent increase compared to […]
July 04, 2019

Chestnut Park Real Estate (Toronto Market Report – June 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 […]
June 04, 2019

Chestnut Park Real Estate (Toronto Market Report – May 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 […]
May 04, 2019

Chestnut Park Real Estate (Toronto Market Report – April 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. In April, for the first time in several months, the […]
April 19, 2019

Chestnut Park Real Estate (Toronto Market Report – March 2019)

TREB’s March results reaffirm a predicted shift in the discussion around Toronto’s real estate market. We are no longer talking about a dramatic year over year growth, but rather about the lack of supply and affordability issues from first-time buyers. The intervention of government on both a federal and soon-to-be municipal level may incite more […]
March 04, 2019

Chestnut Park Real Estate (Toronto Market Report – February 2019)

February results were expected to continue what we saw in the first month of 2019 — modest growth in sales and average sale prices. That didn’t materialize. I have generally not regarded the weather as having a material impact on the residential resale market, but this February may be the exception. This February we saw […]
February 04, 2019

Chestnut Park Real Estate (Toronto Market Report – January 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. There were 4,009 sales reported in January, a less than 1 percent increase […]
January 04, 2019

Chestnut Park Real Estate (Toronto Market Report – December 2018)

There were no surprises in December. The year came to an end as expected. Higher borrowing costs and the new stress testing measures implemented at the beginning of the year are now a driving force in the Toronto housing landscape. The landscape is now one of moderating sales volumes and average sale prices, as was […]
December 04, 2018

Chestnut Park Real Estate (Toronto Market Report – November 2018)

It was no surprise that the Toronto and area residential resale market retracted in November. Sales volumes were off by 14.7 percent compared to reported sales last year. This November 6,251 properties were reported sold compared to 7,326 in 2017. There are many factors responsible for the current market. In fact, there are two markets: […]
November 04, 2018

Chestnut Park Real Estate (Toronto Market Report – October 2018)

The real surprise in October was that the Toronto and area marketplace was more buoyant than expected, especially with a further interest rate hike during the month coming from The Bank of Canada. After being at 0.5 percent for two years, the Bank’s rate has jumped to 1.75 percent in the last 18 months with […]
October 04, 2018

Chestnut Park Real Estate (Toronto Market Report – September 2018)

The new normal in the Toronto residential real estate market has arrived.  It has been finding its way for several months now, guided by the implementation of mortgage stress testing, the foreign buyer tax, and a number of mortgage interest rate hikes.  It is now crystal clear, that the frenzied market of 2016 and early […]
September 04, 2018

Chestnut Park Real Estate (Toronto Market Report – August 2018)

Market data for August came in as expected. Both the average sale price and the number of residential properties reported sold increased compared to August 2017. The average sale price for all properties sold came in at $765,270, or almost 5 percent higher than last year’s average sale price of $730,969. The number of properties […]
August 04, 2018

Chestnut Park Real Estate (Toronto Market Report – July 2018)

There were no surprises as to the market’s performance in July. There has been a consistent improvement both as to sales volumes and average sale prices since January.  July saw the most dramatic year-over-year improvement. As compared to last year, sales volumes in the greater Toronto area increased by 18.4 percent, and the average sale […]
July 04, 2018

Chestnut Park Real Estate (Toronto Market Report – June 2018)

Nasty year over year comparisons came to an end in June. For the first time in more than a year, we saw positive variances in the number of sales and average sale prices. It was unrealistic to compare the first few months of 2017 to any period. Those months represented the most frenetic period in […]
June 04, 2018

Chestnut Park Real Estate (Toronto Market Report – May 2018)

There were no surprises in the May resale figures for the Toronto and area residential market. The three themes that emerge are that the city of Toronto resale market continues to strengthen (416 regions); the 905 region continues as a drag on the overall market, and the high-end of the resale market ($2 Million plus) […]
May 04, 2018

Toronto Market Report – April 2018

The Toronto and area residential resale market continued its recovery in April. For the fourth consecutive month, the market has shown improvement in both the growth of average sale prices and the number of properties reported sold. In April 7,792 residential properties were reported sold, and the average sale price for all properties reported sold […]
April 18, 2018

Toronto Market Report – March 2018

In March the Toronto residential real estate market clearly demonstrated its resilience. Notwithstanding the provincial government’s attempt to engineer the market, it continues to respond to forces that have nothing to do with the Ontario Fair Housing Plan. That’s due primarily to the fact that the underlying basis for the province’s measures, namely foreign buyer […]
March 18, 2018

Toronto Market Report – February 2018

There were no surprises in February’s residential resale data. Last year in February the market was verging on delirium. With record low mortgage interest rates, a severe supply problem, and a collective psychological belief that if you didn’t buy immediately you would be shut out of the market permanently. Under these conditions it was not […]

Let's Work Together

Get in Touch

+1 (416) 294-3776 braden@chestnutpark.com