It's time to make a hard switch from fall to seasonal cheer. I love showing homes this time of year. They always feel so warm and inviting, and holiday décor is always so nice to see. While most sellers prefer to list during the summer months, this time of year has many advantages. And it's also great for buyers as there is a little less competition. If you have questions about getting into the market over the holidays and even in the winter months, please get in touch with me.
Here is a brief look at the October Toronto real estate market as reported by the Toronto Real Estate Board:
Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels.
Record population growth and a relatively resilient GTA economy have kept the overall demand for housing strong. However, more of that demand has been pointed at the rental market, as high borrowing costs and uncertainty on the direction of interest rates has seen many would-be home buyers remain on the sidelines in the short term. When mortgage rates start trending lower, home sales will pick up quickly,” said TRREB President Paul Baron.
REALTORS® reported 4,646 GTA home sales through TRREB’s MLS® System in October 2023 – down 5.8 per cent compared to October 2022. On a month-over-month seasonally-adjusted basis, sales were also down in comparison to September.
New listings in October 2023 were up noticeably compared to the 12-year low reported in October 2022, but up more modestly compared to the 10-year average for October. New listings, on a seasonally adjusted basis, edged slightly lower month-over-month compared to September 2023.
My Favourite Recipe:
Crab Croquettes with Spicy Dill Aioli
The McRib, a fast-food legend featuring rib-shaped pork patties, was once a beloved but elusive creature that disappeared from menus. Now, you can bring it back to life in your own kitchen, using real pork ribs instead of ground meat. Elevate the flavour with your pick of homemade or store-bought pickles, and indulge in the sweet and savory delight of this iconic sandwich. Reconnect with nostalgia and savor the satisfaction of making your own McRib at home. It's a homemade treat that hits all the right notes!
