Alex  Lui

Alex Lui

Sales Representative

Right at Home Realty Inc., Brokerage*

Office:
905-695-7888
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Alex Lui's blog

What's With The March 2021 Market?

My Two Cents

Is the market on fire? Yes, it surely is but it's quite a bit exaggerated by 2020 market frozen numbers. Mid-march of 2020 was the first lockdown and nobody knew much about COVID-19 and it's impact yet, and the market was frozen and almost grinded to a halt.

Feb. 2021 Sales Report With 1st Time Over A Million Dollar Average Selling Price

On March 3, 2021, TRREB reported record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.

Jan. 2021 Sales Results Looking Up

On Feb. 8, 2021, TRREB reported Jan. 2021 sales statistics:

• January 2021 home sales amounted to 6,928 – up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments including condominium apartments, both in the City of Toronto and surrounding GTA regions

Wrapping Up 2020 Real Estate Market in an Unknown Territory

Despite an unprecedented year due to COVID-19, including necessary public health restrictions and uncertainty surrounding the economy, on Jan. 6, 2021, Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000. “The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall.

2020 November GTA Real Estate Sales Activity

On December 3, 2020, TRREB reported the record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS® through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. This result was up by 24.3 per cent compared to November of last year. Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family home growth rates remained robust in the ‘416’ area code as well.

TRREB Released Oct 2020 Sales Data

On November 4, 2020, the Toronto Regional Real Estate Board (TRREB) released home sales data.  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 percent compared to 8,445 transactions in October 2019.

September 2020 Market Update

On October 6, 2020, 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. Following a record third quarter, sales through the first nine months of 2020 were up by approximately one per cent compared to the same period in 2019.

August 2020 - Continual Run of a Pandemic Hot Market

September 3, 2020 – 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.

Mandatory Short-term Rental Registration Coming Soon

Short-term rental operators in Toronto who rent out properties for periods of less than 28 days will have to formally register with the City of Toronto starting September 10, 2020, to keep operating in the city. The new online registration system is part of a broader effort to better regulate short-term rentals across the city, and more details will be announced by the city prior to the system becoming active.

People Currently Renting Their Home

Not Your Typical July Summer Market - Roaring Back to Life

On August 6, 2020, the 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.

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