Market Analysis March 2018



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March 2018... 

 

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 March 2018 Condo Valuation Here


From Our Buyer University Series...

 

Mortgage Terminology Explained

Sometimes when you’re reading about mortgage financing or talking to a banker or mortgage broker, it seems like they’re talking in a different language.  They may be using terminology that you’re unfamiliar with.

Click Here To Read More


March 2018...

 

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 March 2018 House Valuation Here


From Our Seller University Series...

 

Creating An Effective Buyer Profile For Your Awesome Condo Suite

One of the more effective ways of marketing your condo suite, especially with today’s social media resources is to define who is our most likely buyer.
 
In simplest terms… are we talking about first-time buyers, parents buying a suite for college-age children, move-up buyers, down-sizers, millennials vs seniors, investors and so on.

Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For February 2018


Hi [FirstName],

Well, it’s official.  The Toronto / GTA market is in a bit of a slump as the average sales price and the number of homes sold both drop from last year.  The Days-On-Market (DOM) statistic is also nearly twice as long as last February.

A big ray of sunshine, however, can be seen when you compare this year’s results with those of 2016 or prior.  The bellwether ratio of sales-to-listings is up to 38.7% indicating an improving market while the February average sales price is still up $82,000 from 2016 or almost 12% in 2 years.

Sellers now need to pay close attention to the most recent sales (best to look back just 60-120 days) when deciding where to price their properties.

Would you like to know how much your Toronto condo or house might be worth in today’s market?

I can do a quick market value update for your Toronto condo at DowntownTorontoCondoValues.com or your Toronto / GTA house right here to give you a good idea.

To keep updated on market activity and analysis throughout each month go to Facebook and ‘Like’ my Toronto Real Estate Analysis page.

Enjoy this February Market Report and please keep us in mind when any of your friends are talking real estate in Toronto.

Thomas
647-962-1650
Thomas@LivingInToronto.com

Listing inventory up 250% while average sale price drops 12.4% [VIDEO]


Sales were down 35% for February compared to last year with 5,175 houses and condominiums changing hands in all the districts.  This was the lowest number of sales for the month since February 2009.

Condo townhouse and high-rise suites took a highest-ever for February 38.6% share of the market with 1,995 units being sold.

The February average sale price for all GTA homes came in at $767,818 – this was a 12.4% decline from one year ago.  Considering that February 2017 was an over-the-top crazy market, if instead you compare 2018 with 2016 (with an average of $685,738), this year was still up 12% in that 2-year period. 

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 February compared to historical numbers was up 4.4% but increased by a big 147% from last year at this time.

However, this is occurring selectively with the ‘central core’ Toronto neighbourhoods still doing very well while the outer regions (Peel, York & Durham) may not be seeing the same level of activity.

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 February that ratio finished at 38.7% compared to an insane 147% last year.  The GTA is now into a very ‘lite’ seller market territory so sellers may need to adjust their expectations if they want to make a move.

The days-on-market average for Toronto homes was 25 days, 7 days faster than January..

Watch the video to get the complete February 2018 Market Report details.



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

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 throughout 2018 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 a Professional Realtor

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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

Download any of these free reports

Author || Ultimate Home Buyer’s Guide
Author || Home Buyer's Financing Guide
Author || Insider Tips For Getting The Best Price
Author || Get Free Money From The Federal Government
Author || Best Capital Gains Tax Advice For Smart Investors
Author || Guide To Attracting The Best Tenants

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