Schiavone Diamond Team

09/04/2024

📉 Important Update: The Bank of Canada has just reduced the overnight rate by 25 basis points.

08/06/2024

Ripped from the Headlines;
1. "Toronto home sales drop in July as buyers remain unmotivated", G&M Aug. 6/'24
2. "Stronger fall seen breaking Toronto housing market lethargy" G&M Aug. 1/'24
3. "Current Oakville MLS stats indicate an average house price of $1,420,432." ZOLO Aug. 2024

07/24/2024

There is a weakening in household spending and in the housing market, population growth at 3% outpaces GDP so this isn't a huge surprise. We'll likely see another cut on Sept. 4 or Oct. 23.

06/27/2024

📊 Oakville Real Estate Update: May 2024 Detached Homes Report 🏡

Hey Oakville! Here's the scoop on our detached home market last month:

🔑 Benchmark Price: $1,526,900 (⬇️ 5.7% from last year)
💰 Median Price: $1,912,500 (⬆️ 3.4% from last year)
💵 Average Price: $1,425,475 (⬇️ 1.9% from last year)

🏘️ New Listings: 733 (⬆️ 32.8%)
🤝 Sales: 307 (⬇️ 15%)
🏠 Active Listings: 807 (⬆️ 100.2%)

Interesting times in Oakville's real estate! More homes on the market, but fewer sales. Prices are holding relatively steady.

Thinking of buying or selling? Let's chat about what these numbers mean for you!




Sources

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06/26/2024

Capital Gains Tax: How Will These New Rules Impact You?

06/26/2024

Why Torontonians are moving to The Blue Mountains for a better quality of life.

With more space, outdoor recreation, community and remote working, residents enjoy a balanced life for less cost than the city and its...

06/17/2024

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06/05/2024

The Bank of Canada reduced its target for the overnight lending rate today by 25 basis points to 4.75%. The long-awaited move comes after 11 months of rate holds, and marks the first time in more than four years that the key lending rate has been cut. 📣🔑
“Our research indicates that half of sidelined homebuyers in Canada plan to resume their home search plans once the bank rate begins to drop. This will no doubt spark activity and put upward pressure on home prices in the second half of the year,” said Phil Soper, president and CEO of Royal LePage. 🏠
The BoC's next interest rate announcement is set for July 24th.

06/05/2024

What we've been waiting for:
The Bank of Canada dropped rates today by 25 basis points to 4.75%!
Housing prices are predicted to rise by 4% in the tail end of 2024!

05/30/2024

This just happened!

05/13/2024

By now, the dust has settled from the federal budget that was tabled on April 16th, and there is a mere 43 days until the new capital gains rules come into effect.

If you haven't heard: the inclusion rate - the portion of capital gains on which tax is paid - is increasing to 66.7 per cent for those realizing more than $250,000 in capital gains annually.

If you have been hemming and hawing about unloading your investment properties, this could be a ripe time for you to sell.

But time is of the essence. If you are able to sell and close prior to June 24th, 2024, then any gains over $250,000 will be taxed at the existing inclusion rate of 50%. As of June 25th, any amount above and beyond $250k will be taxed at the new rate.

05/06/2024

April 2024 Real Estate Update!