ANDREI LIPATOV, REALTOR®'s blog

In the wake of an extraordinarily sluggish few months for real estate transactions in almost all areas of Ontario, the Canadian Real Estate Association (CREA) has released its own forecast for each province and the country as a whole for 2025.

Based on this year’s trends, expected interest rate cuts, and other factors, the association predicts an increase in the cost of a typical home in each province next year, from 2 percent in Prince Edward Island to 7.9 percent in Alberta.

But let's leave the other provinces alone. What about Ontario?

CREA predicts that the average price of a house or...

 

So, our "beloved" condominiums... and generally, what's happening not just in the Toronto real estate market, but in the Ontario market as a whole. Written at the request of my 7 subscribers who closely follow the current market in "hot" mode.

Condominium developers in Toronto are finding it harder than ever to sell their properties, as this type of housing market is completely, I would say, at rock bottom, forcing some developers to offer desperate incentives or even halt construction.

One sign of the very alarming situation, caused by high interest rates and overall housing...

New data from Statistics Canada shows that the annual inflation rate in the country has dropped to a three-year low of 2.7 percent. This is undoubtedly great news for all Canadians and could signal a potential decrease in the key interest rate by the Bank of Canada. Where did the decline occur? It is primarily due to lower prices for food, services, and durable goods, which have caused the slowdown in inflation. The rise in gasoline prices has somewhat slowed this process.

However, one of the main factors contributing significantly to the overall level of inflation in Canada is,...

So, here is the news from TRREB, and I’m eager to share it with you, my friends...

The Toronto Regional Real Estate Board (TRREB) reports that home sales in the Greater Toronto Area decreased by five percent in April compared to last year. However, the number of new listings surged, offering buyers more choices and keeping prices stable.

The board reports that 7,114 homes were sold this month, compared to 7,487 last year, noting that April 2023 saw a temporary spike in market activity leading to increased sales. The average selling price increased by 0.3 percent year-over-year, reaching...

In the peak of the sales market, I once again want to draw the attention of sellers (and buyers) to both essential and unusual tips and tricks for selling real estate.

First — Home Staging:

• Declutter and Create a Neutral Interior: Remove personal items and excess furniture to make spaces look more spacious and attractive.
• Neutral Decor: Use neutral colors and simple decor to appeal to a broad audience.
• Highlight Key Features: Emphasize unique aspects of the home, such as a fireplace or large windows.
• And, of course, my team of professionals will assist you with this.

Second —...

I just returned from my Dacha and immediately wanted to write about rural real estate in Ontario...

So, if you have ever considered entering the cottage market in Ontario, now might be the right time to do so, as prices in some areas have significantly decreased over the last year.

According to the latest report from RE/MAX real estate agency, average prices for this type of property have seriously dropped (up to 28.7 percent) in most areas of the province during the first few months of the year. This includes the beloved Muskoka in Ontario, which is down 5% compared to last year.

...

Dreams of owning a home in one of Canada's most expensive provinces, Ontario, may remain just dreams for some residents according to a survey conducted by RBC bank in January-February of this year.

According to their data, 60 percent of the respondents in Ontario stated that they need additional income or a second job to buy a home in the province. Fifty percent of the respondents also said that inflation is forcing them to save less for a home purchase, while 31 percent admitted that they would have to live with their parents longer than planned to afford a home. However, there is also an...

All of my followers have probably heard that the Greater Toronto Area real estate market sometimes shows absolutely diametrically opposite results. For example, while uncontrollable growth is observed in a certain type of houses in one of the (micro) districts of Toronto, in the same district we can see a very serious drop in prices.

Take, for example, a luxurious five-bedroom house in the city of Vaughan, which was sold at the beginning of April with a loss of $860,000 after spending 210 days on the market. Located at 47 Grand Vellore Crescent, this sizable house has seven bathrooms, over...