Desmond Brown

Traditional Seasons in Real Estate?

16 August 2019
Desmond Brown

A lot has changed since I started selling real estate in 1985. Back then, interest rates were around 13% for a five-year term, and my first sale ever was a condominium in Scarborough for $50,000. In those days, real estate agents and potential sellers and buyers also geared up for the busiest markets which were usually in the Spring and Fall.

However over the past few years in Toronto, we've seen steady sales all year long. Although Spring and Fall are still considered to be the busiest seasons, we've seen increased sales activity throughout the whole calendar year, especially this summer. This past July, when people are usually at the cottage or traveling, the Toronto Real Estate Board reported a 24% increase in sales compared to this time last year. 

There are many positive factors contributing to this steady market activity in Toronto. Among them are a stable economy; approximately 100,000 newcomers to Toronto each year; many job opportunities in the city; low-interest rates; and a shortage of good homes on the market which has led to high demand. 

So as Toronto continues to grow, we can forget about the traditional real estate seasons. For the foreseeable future, there will be only one busy season in Toronto's real estate market, and that's all year long.