Karen Lee
7646 Yonge St. L4J 1V9 Thornhill, ON, Canada

"As the COVID-19 pandemic continues, the housing market in Toronto has managed to remain robust during an unprecedented, and therefore, unpredictable time."

So many interesting things happened in the real estate market last year! It certainly was a unique year for all of us. "The RE/MAX Fall Market Outlook reported that urban condos took a back seat to suburban, rural and recreational properties, in the face of shifting work/life dynamics. ... a RE/MAX survey conducted by Leger found that 32% of Canadians no longer wanted to live in urban centres, opting for rural or suburban communities instead"

"The Toronto real estate market broke multiple records to close out 2020, from the annual average home price to sales. There were 7,180 real estate sales in the Greater Toronto Area (GTA) recorded in December, which is a 64.5 per cent increase over the same period last year."

"The massive Value Village by Bloor and Lansdowne will soon become a pair of condo towers and a new GO station."

"While the year has taken its toll on Canadians, real estate fiends across the nation are ending 2020 on a relatively positive note: according to new data, the proportion of Canadians who believe the next six months will bring an increase in their neighbourhood’s real estate value has reached a nine-month high."

"The average sale price has increased by 24 per cent, according to the latest monthly report."

"During the chaos of 2020, when nearly everything in the city came to a grinding halt for long stretches at a time, the one thing that never stopped churning was the real estate market."

"Residential real estate is surging. Demand for housing has exceeded supply through the last half of 2020. This has put pressure on home prices, which Royal LePage says, in their Market Survey Forecast predicts a five and a half per cent increase in the price of the average home in 2021."

"It is only natural to ask if the market has already gone too far too fast and wonder if you have missed a once-in-a-lifetime opportunity to find your forever home? I would argue you have not missed the opportunity if you plan on buying and holding on to it for a reasonable period of time. "

"According to October’s sales-to-new-listings ratio, Orangeville, at 105 per cent, was the most competitive market in the Greater Toronto Area. St. Catharines was the most competitive city in Ontario among the 35 markets listed."

"A recent report from Canada’s national housing agency found that a pair of similar taxes by local governments in British Columbia may have caused nearly 9,000 condominiums to be converted to rentals in Vancouver."

"According to RE/MAX, Toronto is number one on the list by some 10,792 and holds the top spot for not only starts, but completions and total absorptions (the rate at which available homes are sold in a given market during a given time period) as well."

"Several Canadian economists recently surveyed believe that record low interest rates have been keeping buyers interested and prices high in Canadian real estate..."