By: Thomas Cook

Average Sale Price Hits Almost $623,000 – up 9.4%

Average Sale Price Hits Almost $623,000 – up 9.4%

  Here is our November 2015 Toronto real estate market report.   It’s getting quite repetitive now that November was another near-record month for sales in the Toronto Real Estate Board.   I’ll comment more on that in this broadcast as we go through the market report.   So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.   Sales were up 13.7% for November compared to last year with 7,385 houses and condominiums changing hands in all the districts.  This was the second best November on record, just barely behind 7,446 sales back in 2009!  Sales are actually up almost 23% above the last...Read More

By: Thomas Cook

Did You Know That Disruptive Condo Owners Can Be Forced To Move In Toronto?

Did You Know That Disruptive Condo Owners Can Be Forced To Move In Toronto?

Neighbourly disputes are never pleasant, and the close quarters present in a condo building can make owners feel even more helpless if there are problems. However, it is not unheard of for condo owners to be forced to sell and vacate their units if they are terrible neighbours, and the courts even have the power to order such under the Ontario Condominium Act.   This may be surprising, but it can also be a welcome relief to condo owners who have less than desirable neighbor situations. The court does, however, have many different remedies available, and actually removing someone from their unit is a last resort.   But what does it really take for someone to be forced to leave a con...Read More

By: Thomas Cook

Government Of Ontario May Double Land Transfer Taxes Across Province

Government Of Ontario May Double Land Transfer Taxes Across Province

The Ontario Real Estate Association has launched a campaign to highlight the negative aspects and impact of the Municipal Land Transfer Tax, something that Toronto has had in place since 2008. This tax can add thousands of dollars to the cost of buying a home in the city.   Research by the Ontario Real Estate Association has found that a considerable number of people who plan on buying a home in the next two years are considering buying a home outside of the city of Toronto – such as other parts of the GTA that do not have the Land Transfer Tax – specifically to avoid the tax, resulting in the possibility of fewer homes sold in the city.   Now, the Ontario government ha...Read More

By: Thomas Cook

How To Renovate Your Toronto Home To Sell For The Best Price

How To Renovate Your Toronto Home To Sell For The Best Price

Renovating a home before listing it is an idea many home sellers have, but they’re not often sure where to start. Which renovations on your home will get you the best ROI? The answers might surprise you!   Here is a list of the best renovations you can do on your home before listing to increase it’s value and earn the highest return on your investment.   Kitchen Remodel: 79.3%   While a kitchen remodel can be among the most expensive of the renovations you can do to sell your home, the return on your investment is quite decent and an updated, beautiful and modern kitchen is something that will attract buyers like nothing else.   Window Replacement: 77.5%  ...Read More

By: Thomas Cook

2015 Is Destined To Be A ‘Best Year Ever’

2015 Is Destined To Be A ‘Best Year Ever’

Sales were up 3.3% for October compared to last year with 8,804 houses and condominiums changing hands in all the districts.  This was the best October on record, just barely beating out 8,525 sales back in 2014!  Sales are actually up almost 30% above the last 15-year average.   Condo townhouse and high-rise suites took a 33% share of the market with 2,901 units being sold.  This was the highest number of condo sales ever for the month of October.   The October average sale price for all GTA homes came in at $630,876– up 7.3% from 2014.   The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been. ...Read More

By: Thomas Cook

How Much Are Homes In Toronto Neighbourhoods?

How Much Are Homes In Toronto Neighbourhoods?

The Globe and Mail has published a fantastic interactive map highlighting the average prices of homes across the Greater Toronto Area by neighbourhood, including Etobicoke, Mississauga, Oshawa and as far north as King.   The same map also has a drop down menu at the top that allows you to compare Fall and Spring average prices as far back as 2008, and the map is colour coded to show changes in price over the same time last year.   When you click on a specific neighbourhood, a window pops up showing the current average price, the previous average price and the average number of days on the market for that area.   The Toronto home price comparison map is well worth checking out ...Read More

By: Thomas Cook

Selling Your Home In The Fall – What Do You Need To Do?

Selling Your Home In The Fall – What Do You Need To Do?

Fall is easily one of the most beautiful times of year in Toronto, but the season can pose a few challenges for home sellers who want to list their home. One of the most important things to consider when listing your home for sale in the fall is curb appeal. Curb appeal is the first impression your home makes based on appearance alone from the exterior from the buyer’s perspective. A poor first impression is something many buyers just can’t shake, so make sure it’s love at first sight with these fall curb appeal tips!   Stay on top of leaves – not raking your leaves can make your yard look messy, and that really hampers curb appeal. Stay on top of regular raking...Read More

By: Thomas Cook

Will the record MLS sales ever stop happening ??

Will the record MLS sales ever stop happening ??

  Sales were up fractionally for September compared to last year with 8,200 houses and condominiums changing hands in all the districts.  This was the best September on record, just barely beating out 8,196 sales back in 2009!  Sales are actually up 26% above the last 15-year average. Condo townhouse and high-rise suites took a 32.3% share of the market with 2,649 units being sold.  This was the 2nd highest number of condo sales ever for the month of September. The September average sale price for all GTA homes came in at $627,395– up 9.2% from 2014. The active listing inventory is one of the strongest indicators of how smooth or outrageous the market is going t...Read More

By: Thomas Cook

Sales are up 20% from the average – listings are down 19.7% from the average

Sales are up 20% from the average – listings are down 19.7% from the average

Sales were up 5.6% for August compared to last year with 7,998 houses and condominiums changing hands in all the districts.  This was the third best August on record!  Sales are actually up 20% above the last 15-year average. Condo townhouse and high-rise suites continued to taking a boosted 34.3% share of the market with 2,742 units being sold.  This was the highest number of condo sales ever for the month of August. The August average sale price for all GTA homes came in at $602,607 – up 10.2% from 2014 – and down slightly from July. The active listing inventory is one of the strongest indicators of how smooth or outrageous the market is going to be.  We ...Read More

By: Thomas Cook

Greater Toronto Area Condos Seeing Strong Demand

Greater Toronto Area Condos Seeing Strong Demand

While many "experts" have been voicing their concerns over the number of unsold condos in Toronto while new condos are springing up left and right, it turns out that those condos have been snapped up over the last few months. New Toronto condo research data from Urbanation shows that the number of unsold condos in the city have decreased quite a bit over the second quarter of 2015. Urbanation says that a rush of baby boomers and young professionals over the last few months show people are looking for more affordable options, and demand for move-in units is high. Unsold inventory decreased by 13 per cent over the second quarter of 2015 compared to the second quarter of 2014, to 17...Read More