Market Analysis

May 2020



May 2020... 
 

Report On Downtown Toronto Condo Prices

Curious about what your downtown Toronto condo may be worth?

Here’s an easy, online way to find out what suites like yours are selling for in today’s market.

Get this free report with up-to-the-minute statistics based on all the recent listings and sales of condos in your building.


Get Your Free May 2020 Condo Valuation Here


20 Ways to Save Money and Stretch Your Household Budget
 

These days, it seems like everyone’s looking for ways to cut costs and stretch their income further.

Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month.
 
Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals.

Read more here


From Our Buyer University Series...
 

Home Buying Process Timeline - What Should You Do First?
 

After many years of helping Toronto house and condo buyers, we’ve found that, with the exception of occasional sudden events, most house and condo buyers begin their home buying search about six to twelve months from the date they ultimately pick up their keys from their lawyer and move in to their new home.
 
Those sudden events might include a job change, a marriage, a new addition to the family, a divorce or receiving an inheritance.

Click Here To Read More


May 2020...
 

Report On Toronto House Values

Semi and detached house prices have been bouncing around the last few months in Toronto with the changes in the market.

Some neighbourhoods are being affected greatly... others not so much.

Would you like to be brought up-to-date with what your Toronto house is worth right now?

Get Your Free May 2020 House Valuation Here


From Our Seller University Series...
 

You Absolutely Positively Need To Know What These Mean
 

As you’re considering selling your home in today’s market, even though you’re already a home owner, you might want to re-familiarize yourself with the terms of the business so that you will be speaking the same “language” as the real estate and mortgage financing professionals in the field!

Real Estate:
Most commonly includes the sale of real property such as houses, condominiums and commercial property but also includes the rental of real estate and the sale of businesses.

Click Here To Read More
 


Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For April 2020

The last 4-6 weeks have completely turned our lives upside down.

Nearly every human in the entire world has experienced what we will remember as a major life event. 

We don’t want to minimize the impact in any way. Many people have lost loved ones. Even more people have lost jobs, income, retirement savings, or economic stability. 

These are devastating and significant life changes, and we want to offer our sincere and heartfelt condolences.

On a much smaller scale, every single one of us has suffered in some way. We’ve all had our plans derailed, our lifestyle shifted, and our idea of what’s normal completely re-defined.

This has certainly been true for everyone involved in the real estate market… sellers, buyers, renters, and landlords. 

Problems such as “How do I pay my mortgage or rent when I’m not working?” are certainly common for many and the dilemma trickles down to almost everyone in our society.

In April, Toronto Real Estate Board sales were undoubtedly the lowest they’ve ever been since maybe the 1960s with a 67% drop from last year with just 2,975 houses and condominiums changing hands in all the districts.
 
The April average sale price for all GTA homes came in at $821,392, down $80,000 from the month before and about flat compared to one year ago.

It’s clear that the coronavirus has hit our market hard… both buyers and sellers have been intimidated by the threat of possible virus transmission.

We’re hearing stories about tenants being unable to pay their rent and AirB&B owners taking big cash flow hits because they can’t rent out their suites on a daily basis.  Some neighbourhoods downtown are seeing a surge in condos available for rent as owners give up on AirB&B income and instead, turn to searching for 12-month tenants instead.

Initially, buyers, sellers, and agents were all freaked out by this epidemic with all open houses being forbidden and everyone afraid of even venturing out of our homes.

As the month progressed and we as an industry learned how to cope and accommodate ourselves to our ‘new normal’, things slowly started to improve.

Some Realtors took advantage of technology (360-degree virtual tours) and used their showing skills to showcase ‘must sell’ listings in ways that allowed buyers to better view ALL the features of both condo suites and houses without necessarily having to view them in person.

RE/MAX Hallmark, the company I’ve worked for since 1983, took a leading role in educating their agents in how best to market homes to buyers in a safe way using PPE and social distancing and to incorporate Zoom for buyer consultations and showings, at least initially.

This is a completely new phenomenon for all of us and the ultimate outcome for the Toronto real estate market is uncertain at this time going forward.

Certainly, there likely will be sellers who ‘must sell’ and buyers who ‘must buy’ and hopefully we can keep the market open and fair to all.

To keep current on market activity changes and analysis during the months ahead, go to Facebook and ‘Like’ my Thomas Cook In Toronto page.

Watch the video or read my April 2020 Market Report Analysis and please keep me in mind when any of your friends are talking about real estate in Toronto.

Stay safe in the weeks and months ahead and connect with me anytime if you need any advice or counsel!

Thomas
647-962-1650
Thomas@LivingInToronto.com



 

Life Turned Upside Down [VIDEO]
 

In April sales were undoubtedly the lowest they’ve ever been since maybe the 1960s with a 67% drop from last year with 2,975 houses and condominiums changing hands in all the districts.
 
Condo townhouse and high-rise suite sales were down by 70% with a 30% share of the market and just 905 units being sold.
 
The April average sale price for all GTA homes came in at $821,392, down $80,000 from the month before and about flat compared to one year ago.
 
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of April compared to historical numbers was lower by a huge 41.4% compared to last year at this time.
 
It’s clear that the coronavirus has hit our market hard… both buyers and sellers have been intimidated by the threat of possible virus transmission.
 
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
 
In March that ratio finished at 75% - in April, that ratio dropped dramatically to 28.2% indicating an almost neutral market.
 
The days-on-market average for GTA / Toronto homes was 19 days, 5 days slower than March.
 
Watch the video to get the complete April 2020 Market Report details.

If you'd prefer to read the full market report details, click here.


For Those Of You Who Like Trivia...
 

Now and then we post our latest World’s Most Interesting Postcard in our Team newsletter.  You might be amazed at what you’ll learn from these interesting tidbits!!

Click to see larger image



Keep Your Ears Open For Real Estate Conversations...

People always feel good about recommending a person or a business where they've received terrific service. They want their friends to enjoy the same great experience they had. 

Please keep us in mind in the new year whenever you hear friends talk about real estate at any time... we're always here to advise, consult and help.

Thomas


 

Amazing Free Services Available From This Professional Realtor


As a successful Toronto Realtor helping condo and house buyers and sellers since 1980, I've developed many programs and services to assist people with their real estate needs.

I've even written several soft-cover books and reports to help explain how buyers and sellers can make their best, informed decisions.

There are important benefits and advantages to being well prepared for the upcoming real estate experience.

You definitely want to avoid making significant buying or selling mistakes.

Here's a list of my 'Free Stuff' that's available to you.

 



Toronto's Real Estate Team - Thomas Cook @ RE/MAX
Expect Amazing

Real Estate Sales Representative @ RE/MAX Hallmark Realty Ltd Brokerage
785 Queen Street East in Leslieville


Thomas@LivingInToronto.com
Direct => 647-962-1650

Become a smart, educated Toronto buyer or seller.  Go ahead and download any of these books or reports at no charge.

Author || Ultimate Home Buyer’s Guide
Author || Home Buyer's Financing Guide
Author || Insider Tips For Getting The Best Price (For Toronto condo sellers)
Author || Get Free Money From The Federal Government (For 1st-time buyers)
Author || Best Capital Gains Tax Advice For Smart Investors
Author || Guide To Attracting The Best Tenants
Author || Guide To Downtown Toronto Condo Prices (for Toronto condo buyers)
Author || 
Insider Advice For Getting The Best Price (For Toronto house sellers)

Awards || RE/MAX's 2nd highest award - Circle Of Legends
Experience || Thousands of homes sold since 1980
Professional Designations || ABR, SRES
Charity Support || Over $117,500 contributed to the Toronto Sick Kids Hospital