Real Estate News

RE MAX 2018 Housing Market Outlook Report


This past year saw the single-family detached and condo markets diverge on distinctly different paths in Canada's two highest-priced real estate markets, Greater Vancouver and the Greater Toronto Area. The trend is expected to continue into 2018 as a mix of relatively affordability for condo units and price appreciation for detached homes in recent years, combined with government policy changes in both markets, has helped push an influx of buyers toward condo ownership.

In Greater Vancouver, demand for condos continues to outpace supply, resulting in the average price of a condo rising an estimated 16 per cent year-over-year, from $553,604 in 2016 to $643,778 in 2017. The GTA’s condo market also saw price appreciation of 22 per cent in 2017, as the average sale price for a condo rose to an estimated $523,437, up from $429,241 in 2016.

The significant condo price appreciation was not matched in the single-family detached home market, as prices were roughly stable year-over-year in Greater Vancouver and up a relatively more modest eight per cent in the GTA in 2017.

According to a survey conducted by Leger on behalf of RE/MAX, the appetite for home ownership remains strong with roughly half of Canadians (48 per cent) considering the purchase of a home in the next five years. Of those who are considering purchasing a home, the top three reasons for doing so are to upgrade their current home, to purchase a starter home as a means of entering the housing market and to up-size from their current home to accommodate a change in family make-up. The survey also found that access to outdoor spaces was a key factor for many Canadians when considering purchasing a home, with 87 per cent agreeing that access to green space was important to them and 82 per cent agreeing that having a backyard was important.

For the full report click HERE.

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

GTA real estate market reports David stoddard referrals CMHC Genworth Capital Toronto distillery district condos harbourfront condos queen west condos condos east of yonge st. condos west of yonge st. bay st. condos yonge and eglinton condos downtown toronto condos Real estate Toronto Toronto real estate buying a condo in toronto buying a home in toronto david stoddard david stoddard real estate david stoddard realtor david stoddard remax Toronto home buyer seminars Toronto home buyer workshops home buyers plan Toronto real estate seminars Toronto rrsp seminars toronto condos toronto home statging toronto home staging videos fit to buy fit to sell toronto condos for sale toronto homes for sale toronto real estate market reports toronto real estate investing mortgage financing entertainment district condos liberty village leslieville condos cityplace condos king west condos inspiration renting in Toronto Canadian foreclosures new construction in toronto home renovations Toronto neighbourhoods property taxes toronto bridge financing city of toronto real estate Tarion David Stoddard Testimonials Toronto condo Hot List downtown toronto condo listings toronto condo listings downtown toronto condos for sale downtown toronto condo living toronto condo living search downtown toronto condos for sale search toronto condos for sale home inspections home inspectors curb appeal remodelling cost vs value downsizing suing your neighbour seller's market buyer's market chmc premiums toronto land transfer tax Ontario land transfer tax stacked townhouses row townhouses streetcar developments The Taylor-Leslieville The Taylor Eglinton crosstown LRT metrolinx tonge and eglinton lrt low rise condos TREB Toronto Real Estate Board TCHC Toronto Community Housing Corporation 19 Brant St. Toronto BMO Bank of Montreal urbanation toronto housing market trends GTA condo market report q1 2014 best renovations to add value renovations one park place south tower one park place south home renovation contracts yard sale for the cure yard sale for the cure-davisville villag RE/MAX yard sale for the cure top 10 neighbourhoods for condo construc mortgage penalties Daniels Guvernment and Kool Haus real estate deposits 156 Rhodes Ave airbnb Q2 GTA Condo Market Report Closing Day home service providers brian baeumler homestars home service plans home warranties Axiom condos Axiom II 763 Bay St Residences of College Park toronto real estate market report august remax hallmark realty remax hallmark remax remax hallmark realty ltd. brokerage condo insurance deductible condo insurance Toronto Condo Prices 2014 micro condos second suites accessory apartments. landlords self hel Toronto real estate market report septem toronto downtown south core home winterization aquavista aquavista by tridel The Top 10 Restaurants for Corporate Eve toronto real estate market report octobe new purpose built vs condo rents new purpose built condo rents 33 harbour sq basement flooding Art Shoppe Condos remax housing outlook report 2015 toronto real estate market report novemb Toronto real estate market 2014 toronto condo market 2014 1 king st w one king west 1758 Esterbrook Dr citylights The Art Shoppe Condos Daniels Waterfront Condos Rosedale on Bloor gta condo market report q4 2014 GTA Real Estate Market Report January 20 31 Presteign Ave Parkview Hills tax deductions tax credits RC3 River City 3 Canary Wharf River City toronto real estate market report Februa dna3 east york Q1 GTA condo market report toronto real estate market report March Grid condos bathroom renovations Toronto condo tour toronto home tour toronto real estate market report April 16 Arnham Rd. 121 prescott ave prescott ave corso italia weston-pellam park GTA Real Estate Market Report May 2015 GTA real estate market report june toronto condo market report q2 2015 water quality toronto market report july 2015 59 East Liberty St wett inspections remax 2015 luxury market report Toronto Condo Report Q3 2015 home buyers' plan condo amenities energy efficient home 1246 waterpoint st 45 charles st e chaz condos toronto real estate market report decemb learning apps toronto real estate market report januar 1030 king st w.113 forbes cr milliken mills east termites sales awards toronto condo market report q4 2015 toronto condo market report Q1 2016 loggia condos the queensway 1040 the queensway ave toronto real estate market report may 20 toronto real estate market report june 2 toronto condo market report q2 2016 toronto real estate market report july 2 2A Shank St maxim condos 398 eglinton ave east toronto condo market report q3 2016 luxury real estate market report 2016 remax housing market outlook 2017 toronto condo market report q4 2016 humber bay shores 5 marine parade dr grenadire landing fortress real developments toronto condo market report Q1 2017 remax 2017 spring market trends report Toronto condo market report Q2 2017 45 carlton st the lexington lexington condos 325 kingston rd toronto gta condo market report q3 2017 the luxury real estate market 2017 remax housing market outlook 2018

Share this News

Share