September 2023 Newsletter

Monday Sep 04th, 2023


Welcome, September! Overview: GTA REALTORS® Release July 2023 Stats, Seller Success Story, Just Listed, Coming Soon, Upcoming Events                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               


Welcome, September!


  • GTA REALTORS® Release July 2023 Stats
  • Seller Success Story
  • Just Listed
  • Coming Soon
  • Upcoming Events

From the Toronto Regional Real Estate Board:

Greater Toronto Area (GTA) home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings were up.

“Home sales continued to be above last year’s levels in July, which suggests that many households have adjusted to higher borrowing costs. With that being said, it does appear that the sales momentum that we experienced earlier in the spring has stalled somewhat since the Bank of Canada restarted its rate tightening cycle in June. Compounding the impact of higher rates has been the persistent lack of listings for people to purchase compared to previous years,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.

GTA REALTORS® reported 5,250 sales through TRREB’s MLS® System in July 2023, representing a 7.8 per cent increase compared to July 2022. Over the same period, new listings were also up, but by a greater annual rate of 11.5 per cent. The MLS® Home Price Index Composite benchmark was up by 1.3 per cent year-over-year. The average selling price was also up by 4.2 per cent to $1,118,374 over the same timeframe.

On a seasonally adjusted monthly basis, the number of sales trended lower for the second straight month, whereas new listings trended upward. The seasonally adjusted average selling price edged lower while the MLS® HPI Composite benchmark edged higher.


Analysis: What this means for York Region’s home sellers and buyers.

July is historically a slower month for real estate, and this year was no exception. The holiday mindset means there were fewer listings, and consequently fewer sales.

A dampening factor is the uncertainty about future interest rate hikes. Detached home sales have been disproportionately affected by increasing mortgage rates since homeowners in this category carry heavier debt loads. As monthly carrying costs rise, the decision to move up to a larger home has been delayed for many potential sellers. With fewer detached homes for sale, the demand continues to outstrip supply so prices have remained stable.

Another possible consequence of rising interest rates is that the less expensive property categories, namely townhouses and condo apartments, have greater than expected demand and higher prices. Detached homes are simply out of reach for many buyers.

If you’d like to see the recent sales statistics for your community, simply click on the link below to access our helpful infographic.
Richmond Hill
Seller Success Story
6 Penwick Cres, Richmond Hill, ON
  • Stunning freehold townhouse with private backyard oasis.
  • Ready to move in & enjoy! 3 + 1 spacious bedrooms, 2 baths.
  • Finished basement. All new renovations, roof, windows, AC.
  • The perfect condo alternative!
Just Listed
15 Guildwood Dr, Richmond Hill, ON
Stunning family home in a safe, quiet neighbourhood offers the best affordability around! Spacious, airy main floor boast walkout to fenced yard, mature perennial garden, and relaxing deck. Fantastic, functional layout, too! 
Just Listed
103-85 Wellington Ave W Aurora, ON

Perfect for downsizers or first-time buyers! Generous square footage, quiet safe low-rise building that is an easy walk to every convenience Aurora offers. All at a very attractive price! 

This Month:

The Decluttering Battleplan

Get ready for the changing season with an organized interior. We have the resources you need to declutter your home with in-person workshops, downloadable e-books, and self-guided “30-Day Decluttering Challenge.” Full event descriptions and links to register available below.

Aurora - Sept. 14th - 10:30 am @ Sunrise Aurora
Richmond Hill - Sept. 20th - 10:00 am @ ML McConaghy Seniors’ Centre
Newmarket - Sept. 27th - 10:30 am @ The Renoir
Markham - Sept. 28th - 1:30 pm @ Markham Village Library
>>> Booklet Offer <<<
>>> 30 Day Decluttering Challenge <<<
New Blog: What Tomatoes And Onions Have To Do With Decluttering?!

Next Month:

Condo Market Tour

Condo apartments range in price, amenities and layout. What all condos have in common is that they offer affordable, convenient and maintenance-free downsizing. If you think a condo might be in your future, you’re going to want to join us for an in-person tour of 6-8 “live” MLS listings on our popular “Condo Market Tour” on October 5th. 
Participants have the choice to travel in our “condo van” or follow in their own vehicles. There is no cost or obligation, but space is limited to the first 10 people who register. Free “Condo Considerations” workbook included.


Richmond Hill - Oct. 5th - 9:30 am @ Richmond Hill Centre For Performing Arts
Markham - Oct. 5th - 1:00 pm @ Markham Village Arena

Community Shredding Event

Mark your calendars! Our twice-annual Community Paper Shredding and CHATS fundraiser event is Saturday, October 14th. 
Bring your unwanted documents for secure, while-you-wait shredding. We will be collecting donations for CHATS of York Region. Link below to register for your time slot.

Richmond Hill - Oct. 14th - 9:30 am @ Richmond Hill Centre For Performing Arts
Markham - Oct. 14th - 1:00 pm @ Markham Village Recycling Depot

Is it worth updating windows and doors prior to selling your home?

Mixed signals: Why it's hard to tell if Canada's real estate market is hot or not right now

How REALTORS® Can Help Clients Find Multigenerational Homes

Canadians Are Turning To Co-Ownership To Break Into The Housing Market


  • Check exterior finishes for signs of deterioration (peeling paint, loose siding, cracks)
  • Check garage door tracks and lubricate bearings
  • Check caulking around windows and doors for air and water leaks
  • Seed the lawn
  • Inspect fireplace and chimney dampers, clean if necessary
  • Check basement or crawl spaces for leaks or moisture 
  • Have humidifier, furnace and (heat recovery ventilator) HRV serviced
  • Clean and test clothes dryer vent
  • Check and reset ground fault circuit interrupter (GFCI)
  • Test smoke alarms and carbon monoxide detectors
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