iListRealEstate Toronto Real Estate Blog

June home sales were up compared to last year, but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend. The average selling price in June increased by double digits compared to last year as well, but the annual rate of increase moderated compared to the previous three months. 11,106 sales were reported in June 2021 – up by 28.5 per cent compared to June 2020.  Keep in mind June of... [read more]

TRREB Commercial Network Members reported 8,814,762 square feet of leased space through TRREB's MLS® System in Q1 2021 for all lease transaction types across the industrial, commercial/ retail and office market segments. This result represented a 92.8 per cent increase compared to Q1 2020. It is important to note that the second half of Q1 2020 saw limited transactions due to uncertainty related to COVID-19 and the associated public health restrictions that were put into... [read more]

Step Two of the Roadmap focuses on the resumption of more outdoor activities and limited indoor services with small numbers of people where face coverings are worn, with other restrictions in place. Ontario may remain in Step Two for a period of approximately 21 days to evaluate any impacts on key public health and health care indicators, and when safe, the province will promptly move to Step Three of the Roadmap to Reopen. Activities permitted under Step Two include, but are not limited... [read more]

Province Entering Stage One Reopening Earlier on June 11 Based on the provincewide vaccination rate and continuing improvements in key public health and health system indicators, the province will move into Step One of its Roadmap to Reopen at 12:01 a.m. on Friday, June 11, 2021. Step One of the Roadmap to Reopen includes but is not limited to: Outdoor social gatherings and organized public events with up to 10 people; Outdoor religious services, rites, or... [read more]

Sales Remain Strong in May 2021 with a slight cool down in Market Activity compared to March 2021   Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and were below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May. Greater Toronto Area REALTORS®... [read more]

The Office of the Superintendent of Financial Institutions (OSFI) announced it will move forward with a proposed new qualifying rate for uninsured mortgages, reinforcing the mortgage underwriting principles outlined in Guideline B-20. As of June 1, 2021, the qualifying rate for all uninsured mortgages should be the greater of the mortgage contractual rate plus 2%, or 5.25%. The change raises the minimum qualifying rate by 46 basis points from the current 4.79%. The federal... [read more]

The Ontario government released its Roadmap to Reopen, a three-step plan to safely and cautiously reopen the province and gradually lift public health measures based on the provincewide vaccination rate and improvements in key public health and health care indicators. The province will remain in each step for at least 21 days to evaluate any impacts on key public health and health system indicators. Based on current trends in key health indicators, including the provincial... [read more]

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