Toronto Real Estate Market Shifts

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Real Estate Marking in Toronto Shifts. Thunder Bay market remains steady.
Real Estate Marking in Toronto Shifts. Thunder Bay market remains steady.

Real Estate Market in Toronto

TORONTO – Real Estate – The real estate market in Toronto is shifting. While some are calling for a slower market, that prediction is yet to demonstrate itself in prices or demand for new homes.

Royal LePage has announced the addition of Toronto-based Coldwell Banker Terrequity Realty (Terrequity) to the Royal LePage Network. Terrequity is the largest Coldwell Banker franchise in Canada, with a network of nearly 400 agents, operating out of 13 offices across the Greater Toronto Area.

Royal Lepage Expands in Toronto

“I am delighted to welcome the celebrated Terrequity team to the Royal LePage family,” commented Phil Soper, President and CEO, Royal LePage. “Beyond being one of Canada’s largest real estate brokerages, the hundreds of professionals in the company have created a high performance culture hard-wired to deliver superior client service. We are proud that they chose Canada’s fastest growing national firm as their new home. It is so true that success attracts success.”

“Royal LePage has firmly established itself as the dominant player in Ontario’s real estate market, which can only serve to assist our REALTORS® as they strive to build their businesses in an increasingly competitive industry ,” said Andrew Zsolt, President, Terrequity Realty. “When compared to other brands, the Royal LePage culture was, by far, the best fit for our company. It is a full-service, full-representation network, which is how we, at Terrequity, conduct our business.”

“We are also very impressed with Royal LePage’s technology tools and systems, and we consider them to be some of the best in the business to help our REALTORS® remain on the cutting-edge of this ever changing industry,” continued Zsolt. “We are confident that selling the Royal LePage value proposition will greatly propel the growth of our brokerage.”

Royal LePage has expanded steadily over the past decade, with particularly rapid growth during the past year, expanding operations from coast to coast. Terrequity Realty Inc. becomes Royal LePage Terrequity Realty.

Thunder Bay Market

The Thunder Bay real estate market continues to grow. Demand for homes is staying constant. Some of the factors in this growth continue to be demand on middle to upper end homes. In some cases it is also fuelled by demand for homes due to a very tight rental market.

One of the factors not often realized are a result of the growing Aboriginal population in Thunder Bay. A solid employment market in many sectors has brought a growing demand for homes in the sector.