Greater Toronto Area (GTA) home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings were up.
Market conditions in the condominium apartment segment tightened markedly in the second quarter of 2023. Sales were up strongly on a year-over-year basis, whereas the number of new listings was down sharply. With more competition between buyers, average condominium apartment selling prices should climb above last year’s levels in the second half of this year.
Average condominium apartment rents continued to well outpace the rate of inflation in the second quarter of 2023. Despite seeing an increase in the number of units listed for rent, competition between renters remained very strong. This competition underpinned higher average rents.
Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month.
TRREB Members continue to offer a helping hand in times of crisis, especially here at home helping our fellow Canadians.
On behalf of Members, TRREB is donating $50,000 to the Canadian Red Cross for the Alberta Fires Appeal, as part of CREA’s REALTORS® Care fundraising campaign.
Thousands of Albertans are currently displaced from their homes and many communities are affected by widespread fires and poor air quality.
The donations to the Canadian Red Cross will support immediate and ongoing relief, recovery and resilience efforts in response to fires, and community preparedness and risk reduction for future all-hazard disaster events within Alberta.
TRREB Members also continue to step up in other ways to help those in need.
Since 2008, Members have taken part in the $1 per Member per Month Every REALTOR® campaign, allowing organizations and charities to offer vital resources at a time when the most vulnerable in our society need it the most.
We’re working as one to make a difference locally and nationally.
You can also donate now to make an even bigger impact.
The Greater Toronto Area (GTA) housing market continued to improve from a sales perspective in May 2023. Unfortunately, the supply of homes for sale did not keep up with the demand for ownership housing. Sales as a share of new listings were up dramatically compared to a year ago. This is a clear signal that competition between buyers increased substantially compared to last year, resulting in the average selling price reaching almost $1.2 million last month.
It is with heavy hearts that the Toronto Regional Real Estate Board (TRREB) announces the passing of former CEO Don Richardson.
Don was the CEO of TRREB for 14 years and was a stalwart leader in the Organized Real Estate landscape throughout his career.
Don was director of education for the Ontario Real Estate Association during the ʼ70s and ʼ80s before taking on the role of OREA CEO in 1994. Don was instrumental in enhancing the professional development courses required to become a salesperson in Ontario. He entered the industry as a sales representative in 1971, eventually owning a brokerage in Newmarket.
Don’s leadership at the helm of TRREB resulted in a thriving, progressive organization that has offered its insight and experience to other boards throughout Canada. In 2014, Don was presented with TRREB’s highest honour, the Award of Merit, in appreciation of the profound impact he has had on the association and the profession. And in 2003, Don was honoured with the Award of Excellence by CREA, an award that recognizes outstanding dedication in leadership, and exemplary service to the REALTOR® community.
He is remembered for his tireless, behind-the-scenes work resulting in countless advancements benefiting Canadian real estate professionals.
Known as an avid motorcycle rider, Don was also one of the founding members of the REALTORS® Care Ride for charity.
Don is survived by his wife Avelyne, his children; Chandra and spouse Sandy Hrynyk, Eryn and spouse Jenna Richardson, Brett Richardson, Fayth Richardson and grandchildren; Alyssa, Tyler, Austin, April, Owen and Travis.
We send our deepest condolences and sympathy to Don’s family, friends, and loved ones.
Don’s family has asked for privacy during this difficult time. There will be no public funeral service. In lieu of flowers, donations can be made to the Ontario REALTORS Care® Foundation.
Torontonians are giving City Council failing grades on housing affordability, according to a new poll from Ipsos, one of Canada’s top research firms. The poll also shows housing and the cost of living as top issues for voters heading into the June mayoral by-election.
Toronto has a housing supply challenge and we desperately need to build more homes for families and singles if we are going to protect the Canadian dream of home ownership in our city for future generations.
Media are invited to attend a keynote address by sports icon and champion of equality and inclusion, Billie Jean King, at TRREB REALTOR® QUEST on May 17. This fascinating discussion will be led by broadcast journalist Gurdeep Ahluwalia.
The Quinte & District Association of REALTORS® (QDAR) and the Northumberland Hills Association of REALTORS® (NHAR) have voted to amalgamate with the Durham Region Association of REALTORS® (DRAR).
The integration of these three boards creates a newly amalgamated regional board with a membership of more than 2,000 REALTORS®.
The Toronto Regional Real Estate Board (TRREB) congratulates the Boards of Directors for their forward thinking leadership to create a larger regional association and welcome all the REALTORS® of this newly amalgamated board as Ontario MLP Partner Board Members.
As an Ontario MLP Partner Board, Members will benefit from enhanced services and greater access to data for REALTORS® via TRREB's MLS® database, tools and technologies in order to grow their business and succeed in today's marketplace.
This integration and vote of confidence by the QDAR and NHAR membership illustrates the value of coming together and the exciting step forward for the future of the industry.
TRREB looks forward to forging a strong working relationship with the newly combined organization and its Members.
The Members of the Brampton Real Estate Board (BREB) have voted to integrate with the Toronto Regional Real Estate Board (TRREB). This successful vote to integrate is a critical step forward towards the future of organized real estate.
This integration welcomes 2,500 BREB Members as primary TRREB Members - empowered with more tools to serve their clients, grow their business and foster REALTOR® communities.
This integration will create increased operational efficiencies in delivering the existing services BREB Members currently enjoy, while providing access to all the tools and services enjoyed by TRREB Members, with no change to the MLS® System used by BREB Members.
This local first approach fits within TRREB's overarching objective of strengthening services to TRREB Members, including more localized regional centres, while improving access to resources, heightened opportunities for collaboration, and enhanced government relations and advocacy efforts.
Both boards are committed to a seamless integration process, focused on delivering value and efficiencies to the membership.
Ontario is facing a housing affordability crisis and we need all government agencies focused on boosting housing supply and helping people find safe and affordable places to call home. Today’s Ombudsman’s report investigating the Landlord Tenant Board (“LTB”) confirms that the LTB needs major reform, additional resources, and improved processes to ensure it is meeting its mandate of adjudicating issues between tenants and property owners in a fair and efficient manner.