Brian O'Donoghue

Sales Representative

Direct 647-405-3126 | bodonoghue@bosleyrealestate.com


October marks a time of reflection and gratitude. This weekend for Thanksgiving we will gather around the table with loved ones and enjoy a delicious, bountiful feast and be thankful for family, good health, warm fall weather and thankful for being Realtors ®. Nobody gets to explore the city like we do. As the city learns to live a high-rise lifestyle, we Realtors ® can enjoy some of the city’s most stunning views and wander amongst some awe-inspiring homes in all neighbourhoods of the city. Sure, the year started off slowly with buyers being cautious and playing the wait-and-see-game, but recent stats from the Toronto Real Estate Board show all housing types are up year-over-year in the 416.


It is no surprise with the anticipation of the long weekend that listings were down slightly in the freehold sector. Sales were also down 17% week-over-week as the federal election draws to a close. While we feel the outcome of the election has little bearing on home values, there might be a wait and see attitude. The latest stats from TREB show that the average sale price for a freehold in the City of Toronto is $913,096 up 5.6% from a year ago.


In the condo market there was no change in new listings from the previous week. Sales did improve, up 11% from last week and the activity continues to be strong with 49% of condos selling at or above the list price. The average sale price for a condo in the 416 is now $636,817 up 3.4% from the same time last year.


Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

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With the change in temperature and the end of that laid-back mood of summer, fall always feels like a shift in gears. Changing around your wardrobe and getting ready for those cool days and nights are almost upon us. With the fall market in full swing, the unpredictability of Toronto real estate is perplexing at times. Sales have been recovering and stronger than we expected in recent months. It seems that we are in full recovery with 6 straight months of sales increases for existing homes. Mortgage rates are dropping, and the impact of the mortgage stress test seems to have diminished slightly. Sellers are becoming a little bit more realistic in their pricing, but listings still remain low causing fierce competition among buyers.


Last week the freehold market saw a small 13% dip in new listings from the previous week. It is interesting to note that fewer listings did not dampen buyer’s spirits. Overall sales for the week shot up an impressive 41% from the previous week and as expected, supply and demand economics propelled 71% of sales at or above the list price. Most of the activity was centered in the east end again in the Riverdale, Danforth Village, Leslieville and Beaches neighbourhoods.


We love witnessing the condo market’s continued success. Listings were up slightly last week by 3% from the previous week. Sales had a healthy 17% increase week-to-week. Keeping in line with previous weeks, 45% of sold units are still happening at or above the list price. The condo market continues to lead the way in terms of price growth in the GTA.


Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

Read full post



The dog days of August are upon us and if you like it hot and sunny then this is a great summer, unless you’ve lost out on multiple offers and are frustrated with the low inventory of properties for sale. The good news is sales in the GTA for the month of July jumped 24% from the same period last year. Toronto sales have been rebounding all summer from a slump earlier this year as buyers are overcoming tougher mortgage qualification rules and returning to the market. With new listings slow to come to market, prices rose in July as demand outpaced supply. The average selling price for a home in Toronto in July was $839,943. The average condominium price was $627,927 up 7.7% from a year ago.


Listings may be slim right now but it’s a good time for buyers to take advantage of the slow summer with less competition, as there are deals to be found. Some buyers are watching as rivals flow out of town for their summer vacations and can take advantage of their absence to snag a good deal. Properties listed in desirable locations will always attract plenty of buyers no matter what time of the year.


The freehold sector reversed an earlier trend of increased listings by recording a slight 18% drop in available homes last week while also recording a 16% drop in sales. However, competition for those homes was up, with almost 55% of home transactions selling at or above the asking price.

The condo market also saw a sharp 33% decrease in new listings from the previous week, but the sales remained unchanged with over 47% of suites selling at or above the list price.

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Canadian housing enters a “boring” era marking a new period of stability for housing sales, after a less-than-stellar 2018 and early 2019. We have not heard Real Estate referred to as “boring” for a long time but Doug Porter, BMO chief economist says “The big story here is that sales and prices are essentially flat on national basis, and the market is close to overall balance, and therefore sales activity is almost right on top of its 10-year average, which is exactly what policymakers would like to see.” It’s a pretty good spot to be in, avoiding boom but avoiding bust as well.


More than 80 percent of all local markets in Canada were in a balanced market territory in June, the largest share in three years. The overall national market is likely to strengthen modestly over the next 18 months and we are looking for sales and prices to both rises roughly 2 percent in 2020, nationwide.


The Toronto housing market is recovering nicely, and prices are on the rise. TREB predicts the average home price will see a 4.1% gain this year. The one thing that is troubling is that we really haven’t seen any movement in new listings. In fact, we’re starting to see a decline again on a year-over-year basis in the number of listings coming to market. Because of the shortage of new listings, bidding wars are on the rise again. It seems the sky is not falling and with interest rates dropping the combination has brought some enthusiasm back to the housing market. This renewed interest is a contributing factor to rising prices.


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The rental stats were released last week by the Toronto Real Estate Board and the demand for condo apartments still remains strong. For the second quarter of this year 9,749 condo apartment rental transactions were reported, up by 14.9% compared to 2018. The number of condo apartments that were listed were also up by 28.8% on a year-over-year basis. The average 2019 one-bedroom condo apartment rent for the GTA was $2,192, up 6.7% compared to 2018. Over the same period, the average two-bedroom condo apartment rent increased by 4.3% to 2,873. The vacancy rate for the city of Toronto sits at 0.7%. The GTA population continues to trend upward, as the region attracts people from around the world, both on a permanent and temporary basis, to take advantage of a diversity of employment opportunities. Many of these newcomers and existing GTA households choose to rent.


Last week the residential sector did a complete reversal compared to the week before. Listings were down by 5% but overall sales made a gigantic jump, up by 35%. Buyers were back after the long weekend as reported with busy open houses still happening. The majority of the sales are still happening in the east end with 50% of homes in the $800K to $1.5K range selling at or above the list price.


The resale condo market sector is following the same trends, except new listings were up by 7% and sales have climbed by nearly 43% week-over-week. The majority of sales are between the $400K and $700K price point with 52% of condos selling at or above the list price.


Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.

Read full post