Wow, that summer went quickly. So many things to pack in in just 8 weeks.
I got a lot of bachata dancing in while my son made a valiant attempt to ride his OneWheel board all the way from Toronto to Niagara Falls to raise money for cancer research. Unfortunately about halfway in, his board suddenly ran out of juice and threw him over the front… nothing other than lots of scratches, fortunately.
In contrast to earlier months this year, sales of detached and semi-detached houses in the 905 were robust with small, incremental price gains overall.
The downtown condo market continued to roll along steadily but with lower inventory and sales flat compared to one year ago. However, it maintained its 4-5% annual appreciation rate throughout the summer months.
If you’ve got a ’time-expired’ investment which isn’t giving you a positive cash flow, or it’s time to upgrade your personal residence, the first thing you’ll want to know is “What is my property’s current market value?”.
For a condo suite valuation, go to DowntownTorontoCondoValues.com - please BE SURE to leave me your condo’s monthly maintenance fee.
For a specific house valuation, click on DowntownTorontoHouseValues.com.
To keep current on market activity changes and analysis during the month, go to Facebook and ‘Like’ my Toronto Real Estate Analysis page.
Watch the video or read my AUGUST 2019 Market Report Analysis and please keep me in mind when any of your friends are talking about buying or selling real estate in Toronto.
Market adopts a modest and cautious price appreciation model [VIDEO]
In August sales were up 13.4% compared to last year with 7,711 houses and condominiums changing hands in all the districts.
Condo townhouse and high-rise suite sales edged up to a 34.5% share of the market with 2,661 units being sold which is a 4.8% increase from 2018.
The August average sale price for all GTA homes came in at $792,611 up 3.6% from one year ago. This average is now up 8.4% from the average market high back in August 2017.
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 August compared to historical numbers was lower by 11.2% compared to last year at this time.
This is actually a good sign since we’re not being overwhelmed with high inventory levels and is probably keeping us from seeing a slump in prices in some GTA locations.
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 August that ratio finished at 48.6% - about 10% above last year and slightly above July of this year – indicating a continuing strong, steady market as we move through the summer months.
The days-on-market average for GTA / Toronto homes was 25 days, 2 days slower than July.
Watch the video to get the complete August 2019 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!!
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Keep Your Ears Open For Real Estate Conversations...
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Please keep us in mind throughout 2019 whenever you hear friends talk about real estate at any time... we're always here to advise, consult and help.
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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.