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June’s Newsletter: TO’s Epic Sushi Hand Rolls – City Pics From the ’30s – Buying Your First Place? Here’s What You Need to Know

June’s Newsletter: TO’s Epic Sushi Hand Rolls – City Pics From the ’30s – Buying Your First Place? Here’s What You Need to Know

It’s June, and Toronto is buzzing! Between Taste of Little Italy, farmers markets, Luminato, and Pride, there is an abundance of things to see and do! You’ll find my picks for what’s happening in the city below. I’m looking forward to catching a couple of this year’s summer ribfests, riding my bike along some of Toronto’s many trails and watching the sunsets from the hill at Riverdale Park along Broadview.

In response to a robust economy and consumer spending, the Bank of Canada raised its overnight rate to 4.75%, which is the highest it’s been since April, 2001. Whether this cools the market remains to be seen. Last month, sales across the GTA were up by 24.7% compared to May 2022, and new listings were down by 18.7%. This resulted in a tighter market for buyers, pushing prices up month-over-month. The biggest change can be seen in the average price of a detached home in Toronto, which was up by over $155K compared to April. At $1,913,132, it’s only a hair under the prices being paid a year ago.

If you know someone who’s thinking about buying their first place, please forward this email to them. Below, you’ll find my blog post with information about what they need to know – and the incentives available.

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