Carol SL Mark’s Blog

Work with a Realtor: Collaborate with an experienced agent for guidance in navigating the market. Establish a Budget: Determine your affordability and consider all homeowner expenses. Choose the Right Location: Location matters; consider factors like travel time, facilities, and safety.

The GTA's housing market is transitioning into a buyer's market with improved buyer negotiation power. in Late-Q3, the sales-to-new-listing ratio (SNLR) ↓28.6%, indicating a significant shift. The condo market also saw ↓25% in SNLR, below the 10-yr avg. Investors selling properties contributed to: ↑ inventory ↓ bidding wars ↑re-listing activity Yet, affordability challenges persist due…

Toronto's housing market is cooling off as buyers await the Bank of Canada interest rate announcement. Home sales slowed in Late-Q3, with detached home sales dropping by ↓5.1% MoM. Avg detached home prices in Toronto ↑5.4% MoM to $1,724,007. Neighborhood Prices: Affordable: Rexdale-Kipling, West Humber-Clairville: $962,389 Mid-Range: Rockcliffe-Smythe: ↑$1M Expensive: York Mills, Bridle Path: ↑$4.6M…

Coun. Brad Bradford is proposing a motion to be discussed at the next week's Planning and Housing Committee Meeting to convert old and under-utilized office buildings into residential housing as a solution to Toronto's housing crisis. This motion would also remove restrictions that require developers to replace the converted office buildings with equivalent space for…

In September, Greater Toronto Area home prices saw their first increase in 4-mo, ↑ 3.4% MoM to C$1.12M. This price rebound coincided with the BoC's decision to pause its interest rate hiking campaign. Home prices in GTA ↑ 3% yearly, but they remained 16.1% lower than the peak in February 2022.

In October 2023, the number of rental units under construction in the Greater Toronto Area (GTA) hit its lowest level in nine quarters, coinciding with the federal government's announcement of legislation to scrap the GST on purpose-built rental projects. A report by real estate consulting firm Urbanation showed that 18,267 purpose-built rental units were under…

Toronto's fall housing market is uncertain due to rising interest rates and economic instability, contrary to some optimistic forecastsThe Bank of Canada's expected hikes in October could halt market momentum. Home prices in urban Toronto are expected to remain stable this fall as the market rebalances; buyers gain negotiation leverage.

Councillor Brad Bradford has proposed policy changes to Toronto City Council to speed up the conversion of office space into residential housing, due to the current office occupancy rate in the downtown core being 50% lower than before the pandemic. Former Deputy Prime Minister Sheila Copps has also suggested removing the GST from rental builds…

Buying a condo in Toronto can involve a complex process that requires careful consideration. The First-time condo buyers must ensure they can commit to a long-term investment, as mortgage rates are currently high. How can mortgage professionals assist? Affordability assessment with credit checks Emphasizing building fees Noting future developments Swift pre-approval

Co-ownership is an increasingly popular option for those looking to purchase a home in or near Toronto, as high interest rates and decreased sales have made it difficult to purchase a home on one's own. Survey results show that while many millennials have put off buying a home in the past, most are still planning…