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The average Toronto area re-sale home price rose 1.7% year over year in January to $748,328, including single-family homes and condos, according to the Toronto Real Estate Board (TREB), which is forecasting a 4% annual price increase for 2019. TREB President Garry Bhaura indicated “Although we won’t experience record levels, we do expect to see a better year in 2019 for sales and selling pric ...

It has been an incredible - and surprising - two years for real estate in Toronto. As stats continue to come in from 2018, we gain a better picture of what we can expect moving further into 2019. These stats are critical if you are planning on moving to Toronto, buying a home in Toronto, or you want to invest in real estate in Toronto.There has been some great news on the Toronto and Greater ...

Buying your first home can be both exciting and a bit daunting. The good news is that there are government incentive programs available to help you get into the housing market. Let’s break them down for you.Land Transfer Tax Refund for First-Time Buyers (Ontario) First-time homebuyers of an eligible home may be eligible for a refund of all or part of the Land Transfer Tax. To claim a refund, ...

Luxury home sales have often been a good indicator of the state of the global economy. Foreign investors often hold real estate throughout the world, so a major shake-up to the global economy would have a definite impact on luxury home sales in Toronto.So how does Toronto fare?First, let’s clarify something. The term “luxury” as it applies to home prices is different depending on location. In ...

On October 17, 2018, the Cannabis Act came into force in Canada. Cannabis is now legal for both recreational and medicinal use (though medical use was legalized back in 2001). The rules for usage is quite similar to alcohol, though many have expressed concern about how cannabis can affect Toronto & GTA real estate. For individuals moving to Toronto or relocating to Toronto from outside Canada ...

One of the many factors that impact real estate in Toronto is mortgages. For 2019, banking experts are suggesting that “there will be flat to low-single digit mortgage growth this year”, as indicated by CIBC’s CEO Victor Dodig. The Bank of Canada is expected to hold its key interest rate at 1.75%, regardless of the recent hikes by the central bank.Looking at interest rates in greater detail, ...

As we welcome 2019, the team at MAC Real Estate Services Inc., Brokerage can’t help but reflect on 2018 and how incredibly different the year was in terms of real estate in Toronto and the Greater Toronto Area (GTA). 2018 saw condominium units continue to dominate. The average price of a condo in the GTA was up 9.91% to $554,497. Compare that to the average price of a GTA detached home, which ...

Investing in a major city like Toronto is a fantastic idea. But what many people don’t stop to consider is investing outside of the Toronto core, near a major University. Guelph, for example, has one major University, a local college, and even a veterinary college. Guelph has plenty of real estate options for investors to think about. Purchase prices tend to be much lower, and there are plent ...

The shared economy has gained some serious ground in the past five years. And for good reason… it works with people’s schedules and lifestyle. For those unfamiliar, think Uber and AirBnB.With all good things come some challenges. Many real estate investors, for example, jumped on board the AirBnB train, in hopes of making their investment property profitable. And although it financially made ...

Toronto’s real estate market is incredibly complex. Whether buying or looking to rent, the process can seem daunting. So we’ve come up with a list of steps to follow during the process: Decide on your desired area (or a general idea)Location, location, location!  Set your budgetKnow what you can comfortably afford, and even get mortgage pre-approval if you are purchasing.  CALL US!Seriousl ...