Rabia&AyeshaTeam

Rabia&AyeshaTeam Experience, expertise + excellence in real estate
💥Pros at navigating the GTA/Durham

The Greater Toronto Area (GTA) housing market tightened in April 2023, with sales down 5.2% YoY but up compared to March...
05/04/2023

The Greater Toronto Area (GTA) housing market tightened in April 2023, with sales down 5.2% YoY but up compared to March. New listings were down 38.3% YoY, creating more competition between buyers and leading to an improvement in selling prices since the beginning of the year. The average selling price in the GTA was $1,153,269 in April 2023, down 7.8% YoY, but up compared to March. The MLS® Home Price Index (HPI) Composite Benchmark was down 12.1% YoY in April 2023, but up compared to March. TRREB is calling for sustained effort from all levels of government to address the persistent lack of listings and resulting impact on affordability.

Just some tips on how to take care of your home after the long winter
03/27/2023

Just some tips on how to take care of your home after the long winter

Can’t wait to see you for the meet & greet tomorrow!
02/23/2023

Can’t wait to see you for the meet & greet tomorrow!

Join us for a fun night @ Boston Pizza!
02/12/2023

Join us for a fun night @ Boston Pizza!

As we moved from 2022 to 2023, the GTA housing market unfolded as it was expected. The number of January sales and avera...
02/11/2023

As we moved from 2022 to 2023, the GTA housing market unfolded as it was expected. The number of January sales and average selling price were similar to December 2022. Year-over-year, both sales and prices were down, highlighting the impact of higher borrowing costs on affordability.

Home prices declined as homebuyers sought to mitigate the impact of substantially higher borrowing costs. While short term borrowing costs increased again in January, negotiated medium-term rates, like the five year fixed rate, have actually started to trend lower compared to the end of last year. This is expected to continue to help affordability through 2023.

The Bank of Canada announcement that interest rate hikes are likely on hold for the foreseeable future will prompt some buyers to move off the sidelines in the coming months. Record population growth and tight labour market conditions will continue to support housing demand.

All three levels of government have announced policies to enhance housing affordability over the long term, including many initiatives focused on increasing housing supply in the ownership and rental markets - Toronto City Council supports the Mayors 2023 Housing Action Plan as part of the Citys overall $2 billion commitment to housing initiatives.

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2911 Kennedy Road
Scarborough, ON
M1V1S8

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