Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row. Our Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS® System in October 2020. This was up by 25.1 per cent compared to 8,445 transactions in October 2019.
Toronto Regional Real Estate Board President Lisa Patel announced that third quarter 2020 condominium apartment sales reported by Greater Toronto Area REALTORS® totalled 7,072 – up 10.5 per cent from Q3 2019. The number of new listings in Q3 2020 amounted to 17,613 – an 84.6 per cent increase over Q3 2019. Active listings at the end of Q3 were more than double that reported the same time last year.
Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 14,036 condominium apartment rentals through TRREB’s MLS® System during the third quarter 2020. This was an increase of 30.2 per cent over Q3 2019.
The Toronto Regional Real Estate Board (TRREB) supports the provincial announcement to again ban in-person real estate open houses in the Greater Toronto Area COVID-19 hot spots. TRREB wrote a letter to Government and Consumer Services Minister, Lisa Thompson, supporting a similar call by the Ontario Real Estate Association for a ban.
The Toronto Regional Real Estate Board (TRREB) is calling on its 56,000 REALTOR® Members to avoid in-person open houses during this second wave of the pandemic and to continue to take advantage of virtual tools.
Toronto Regional Real Estate Board President Lisa Patel announced that sales reported through TRREB’s MLS® System by Greater Toronto Area REALTORS® amounted to 11,083 – a new record for the month of September. This result was up by 42.3 per cent compared to September 2019.
The Toronto Regional Real Estate Board (TRREB) is applauding the provincial government’s announcement that those who trade in real estate in Ontario can now structure their businesses as Personal Real Estate Corporations (PRECs). The government’s announcement comes with the approval of regulations under the Trust in Real Estate Services Act, 2020 (TRESA), which set out the necessary details and rules for implementing PRECs.
Toronto Regional Real Estate Board (TRREB) President Lisa Patel announced that the strong rebound in Greater Toronto Area (GTA) home sales continued with a record result for the month of August. GTA REALTORS® reported 10,775 residential sales through TRREB’s MLS® System in August 2020 – up by 40.3 per cent compared to August 2019.
TRREB was invited to present to the Provincial Standing Committee on Finance and Economic Affairs, with regard to the economic impact of the pandemic on the Greater Toronto Area real estate industry and market. TRREB President Lisa Patel engaged MPPs through a virtual presentation on August 20, 2020. You can view the full remarks here.
Toronto Regional Real Estate Board President Lisa Patel announces that Greater Toronto Area REALTORS® reported 11,081 sales through TRREB’s MLS® System in July 2020 – a 29.5 per cent increase over July 2019 and a new record for the month of July. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 2020.
Toronto City Council has approved a plan to create more housing opportunities in Toronto neighbourhoods, including "missing middle" housing defined as unit types that fall between a single detached or semi-detached house and a high-rise building. This is consistent with TRREB"s ongoing message to City Council, and other levels of government, that efforts should focus on increasing housing supply, and specifically supply of a greater variety of mid-density housing types.
City Council considered a report from City staff that sets out principles and a process for developing new policies to allow for more housing options in Toronto"s "yellow belt", which refers to the 35% of the City designated as "neighbourhoods", of which 70% only allow detached housing. TRREB has consistently called for the creation of more housing options in the City to increase housing supply. TRREB"s submission to the Planning and Housing Committee supported this initiative and called for it be further streamlined. View TRREB"s submission here.
The next step in this process will be for the City to conduct consultations before developing detailed policies to move ahead with this initiative. TRREB will be monitoring this issue closely and participate in consultations.
Toronto Regional Real Estate Board President Lisa Patel announced that second quarter 2020 condominium apartment sales amounted to 3,459 – down 50.8 per cent compared to 7,024 sales in Q2 2019. The number of new condominium apartment listings amounted to 8,717 in Q2 2020 – down 21.6 per cent compared to 11,114 new listings entered in Q2 2019.
Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 7,320 condominium apartment rentals through TRREB’s MLS® System in the second quarter of 2020. This result was down by 24.8 per cent compared to the second quarter of 2019.