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December Market Update

The average home price was $1,084,692 in December up 3.2% year-over-year across the GTA in December and flat month-over-month.

Active listings were up compared to 2022 yet down 38.12% vs. November this year. However, a reduction in listings in December is normal through the holiday season. 

Days on Market increased as well both year-over-year and month-over-month.

With 3 months of inventory, the GTA Housing Market was balanced in December 2023.

Durham & Toronto Market Insights

Every city/town is unique as are the communities within them. Scroll through to find your town.

December 2023 Market Stats Durham


December 2023 Market Stats Toronto


What we are seeing on the ground. 

For Buyers

When a market is more balanced and not favouring one side or the other negotiations become more important for buyers and sellers. We continue to see offers accepted with conditions included. It’s become the norm for offers to include Home Inspection and Financing clauses. Beyond understanding the market value for homes and what to offer, Buyers need to go in with the right clauses to give them peace of mind. Sellers need to evaluate offers on more than just price and ensure their agent is qualifying buyers as best as possible when considering an offer.

For Sellers

Many sellers terminated their listings in December as the buyer pool shrunk with the holiday season and our expectation is many will relist in the new year. We have noticed several listings have gone through price changes or were terminated and relisted with new pricing in the last quarter of 2023. For sellers, this is where it is key to know the value of your home, how much you need to get to make the move you want, and what pricing strategy will be most effective in your local market.

MORE MARKET INSIGHTS (add stats for Markham/Stouffville & Port Hope/Cobourg)


December 2023 Market Stats Markham Stouffville
December 2023 Market Stats Northumberland
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Get Ready for Festive Fun: Santa Claus Parades in Toronto and the Durham Region

The holiday season is just around the corner, and what better way to kick off the festivities than by attending a Santa Claus parade? These heartwarming events bring communities together, spreading cheer and joy to people of all ages. In the next two months, there are several Santa Claus parades scheduled in Toronto and the Durham Region that you won't want to miss. Let's take a closer look at what's in store:

1. Dates and Times

Mark your calendars for the following Santa Claus parades:


  • Bowmanville Santa Claus Parade on November 18th at 10:30 am. The parade will wind through downtown Bowmanville along King St. Learn more.

  • Santa’s Parade of Lights in Oshawa on November 18th at 6:00 pm. The parade route starts at King St. and Stevenson Rd. Learn more.

  • Santa’s Spectacle of Lights in Ajax on November 25th at 6:00 pm. The parade kicks off at Bayly St. and Mackenzie Ave. and ends at Ajax Town Hall. Learn more.

  • Pickering Santa Claus Parade on November 25th at 10:00 am. Beginning at Dixie and Glenanna and ending in Pickering’s City Centre.

  • Downtown Toronto's Original Santa Claus Parade on November 26th at 12:30 pm, celebrating its 119th year with a new route. You can watch it on CTV. Learn more.

  • Port Perry Scugog Santa Claus Parade on December 2nd at 5:00 pm. The parade theme is "Christmas Movies." Learn more.

  • Whitby Santa Claus Parade on December 2nd at 10:00 am. The route runs through the heart of downtown Whitby. Learn more.

2. Unique Features and Themes

One of the highlights of this year's parades is the Scugog Santa Claus Parade's exciting theme, "Christmas at the Movies." Attendees can look forward to seeing floats inspired by their favorite holiday films. [Find movie inspiration here]

Pickering’s parade theme is Holiday Storytime, where groups are invited to represent pop culture or cultural stories about the holidays in their float design. 

3. Getting Involved

You can get involved in these parades as a spectator or participant. Many events accept donations to fund the parade or support local charities. If you're interested in participating, consider entering a float or volunteering as a marcher, marshal, or crowd supervisor. Check the parade's website for details on how to get involved.

4. Notable Sponsors and Organizations

These parades are not only a celebration of the holiday spirit but also an opportunity for community organizations and businesses to showcase themselves. For example, the Whitby Santa Claus Parade is organized by the Optimist Club of Brooklin and features over 50 organizations spreading holiday joy along the route.

5. Popular Traditions

Kids will be delighted to receive candy canes from costumed characters, local firefighters, and parade participants. These events also showcase a wide array of community organizations, from dance troupes to sports teams, allowing you to see how you can get involved in your local community.

6. Historical Facts

Did you know that the Toronto Santa Claus Parade has a rich history, running for an impressive 119 years? Even during the challenges of the COVID-19 pandemic, the parade continued virtually, maintaining its tradition of spreading holiday joy.

7. Parade Day Tips

As you prepare to attend these parades, keep in mind the following tips:

  • Dress appropriately for the weather.

  • Bring blankets or lawn chairs for seating.

  • Consider bringing non-perishable food donations to support local charities.

  • Don't forget to bring a letter for Santa!

  • Pack snacks and warm beverages to keep everyone in your group comfortable during the parade.

So, whether you're in Toronto or the Durham Region, these Santa Claus parades are sure to get you into the holiday spirit. Bundle up, gather your loved ones, and head out to enjoy the festive floats, holiday music, and the magic of Santa himself. Make this holiday season unforgettable with the joy of a Santa Claus parade!

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While the stats show GTA home prices have increased in the month of October 2023 compared to the same time last year, prices remained relatively flat from the previous month. The big change we are seeing is the inventory levels are way up and the sales volume is down.

TRREB October Market Watch Infor Graphic

Durham & Toronto Market Insights

Every city/town is unique as are the communities within them. Scroll through to find your town.



What it means for Buyers & Sellers

This presents an opportunity for buyers. You can likely avoid competing on a property and negotiate on price and terms, which hasn't always been an option for successful buyers in recent years. If you own your current home and are looking to move, it may be wise to sell first. This ensures you don't overextend on your purchase and can upgrade/downsize with confidence.

Sellers Need to Match the Market

Homes are taking longer to sell and we are seeing a lot of terminated listings and price adjustments. The properties that are selling are the ones priced correctly to today's market conditions. If you want to get your property sold then the correct pricing and presentation are extremely important.

Impact on New Home & Pre-Construction Sales

Another segment of the market that is feeling the impact of high-interest rates is new home and pre-construction sales. We are noticing that there is a growing number of assignment sales being offered at a discount from the original purchase price. If you are considering purchasing an assignment it is imperative that you have representation and have the contract reviewed thoroughly. 

What's Next

What's next for the real estate market in the GTA, well nobody knows for sure. With so many mortgages set to renew in the next few years, we will certainly be watching and waiting to see what happens with interest rates moving forward.


MORE MARKET INSIGHTS

October 2023 Market Stats Markham Stouffville


October 2023 Market Stats Northumberland

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Housing prices are down year over year going back to January 2022 and there are lots of headlines on that topic, but there’s a silver lining if you look deeper.

Yes, the days and seeing double-digit price increases in such a short period of time are well behind us. As the market adjusts, we need to look ahead rather than behind to make informed decisions regarding our real estate. 

THE GOOD NEWS

While many buyers are still waiting, slightly more will enter the market in 2023 and those who do will find homes significantly more affordable than a year ago.

If you’re thinking of selling your home you should be feeling relief as pricing in many markets across the GTA is stabilizing and many areas and housing types saw the average price increase from December to January. On the street, we’re even starting to see many homes sell in multiple offers again.

Here are the stats for Markets Across the GTA in January 2023.

1080x1080-JAN 2023 Market Stats by Brian Stanton

THE BOTTOM LINE

A more balanced market offers you the opportunity to evaluate your situation and determine what the right move is for you without the pressure of wild bidding wars or the prospect of massive interest rate hikes.

CLOSING

We can expect another headline-grabbing set of statistics for year-over-year average pricing in February but if you’re thinking of making a move in today's market what’s more important is what is happening in the market today. 

If you need help determining if you can make the move you want to make in 2023. Reach out to us, we're happy to help.


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