Toronto Luxury Real Estate News Roundup: May 2019

13 May 2019
Robert Greenberg Team

As one of Toronto’s top luxury real estate agents, I like to keep an ear to the ground and listen for the latest news in the real estate market to keep my realtors and clients informed and up-to-date. Here’s the news roundup for the month of May.

Toronto Storeys: Toronto Ranks 12th on World’s Most Expensive Housing Market List

“No surprises here, Toronto and Vancouver rank among the world’s most expensive housing markets. According to CBRE’s 2019 Global Living Report, Toronto is the 12th most expensive housing market in the world with an average home price of $575,557 (USD).”

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Financial Post: The Real Estate Market’s Burning Question: Should You Buy Now or Buy Later?

“Uncertainty arises in markets when their future direction is unknown. Families across Canada, for example, are wondering whether the housing markets will continue to lose steam or reverse their course.”

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Financial Post: Toronto Housing Market Starts Buying Season with a Bang, Sales Up 17%

“Toronto’s housing market entered the busy spring property season with a bang, as sales surged 17 per cent in April compared with a year earlier and prices also pushed higher.”

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Toronto Sun: City Adding 31 Skyscrapers by 2024

Point2Homes, an online real estate marketplace, is backing up what many Torontonians have noticed: There’s a vertical building boom to accommodate the city’s housing shortage.”

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Urban Toronto: Sales Decline as Greater Toronto Area Condo Prices Rise

“The first quarterly report of 2019 released by the Toronto Real Estate Board (TREB) shows a continued decline in condominium apartment sales in the Greater Toronto Area, as average home prices continue to climb higher. The latest sales and price figures coupled with an increase in new listings points to loosening of what has been a historically tight market in recent years.”

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The luxury real estate space in Toronto is constantly changing and evolving. Count on Robert Greenberg to help you navigate the market and buy and/or sell your home. Get in touch today!