In the spirit of giving we have chosen to donate to the following charities this holiday season: Campfire Circle, Daily Bread Food Bank, Canadian Cancer Society, Heart and Stroke Foundation, One Tree Planted , Tree Canada and Woodgreen this year. All causes we are passionate about.
November 2024 Toronto Market Stats
Toronto Market Update
The Toronto and Region residential resale market is ending 2024 positively, albeit modestly, compared to 2023. As 2023 came to an end the resale market, severely punished by high mortgage interest rates, was decelerating monthly. Last November only 4,194 residential properties were reported sold. This November sales rebounded by over 40 percent to 5,875 homes reported sold. A very welcome improvement. Year to date 64,277 properties have been reported sold throughout the greater Toronto Region. By year end we will see a marginal improvement over the 65,877 properties that sold in 2023. Based on the current pace of sales in 2024 the number of sold properties should come in at approximately 68,500. This number is substantially less than the 90,000 reported sales annually (on average) in the decade leading up to the Covid pandemic and the tumultuous market disruption that has since taken place.
If you are having difficulties due to the Canada Post strike retrieving your tax roll number please reach out to us and we can easily look it up for you. Helenbraithwaite@chestnutparkhomes or mphillips@chestnutparkhomes
Real Estate News
Regulatory Change That Could Speed Up Office Conversions Proposed After Ford Government Voted Bill Down
Bill 102, The Commercial to Residential Conversion Act, 2024, was tabled by Liberal MPP Karen McCrimmon in May in response to high office building vacancies in Ontario.
City Chic: 4 Luxury Urban Lofts
We owe our 21st century’s luxury loft to economics, scarcity of resources, population pressure, capital flows, and … artists.
Robitaille Curtis perches slender house above Quebec lake
Canadian studio Robitaille Curtis has completed a cedar-clad family retreat called Chalet Papillon, which features sweeping views and queen-sized bunk beds to accommodate numerous guests.
