Market Analysis

March 2019



March 2019... 
 

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 2019 Condo Valuation Here



What’s Your Condo Suite Or House Actually Worth?
 
Discover What Buyers Will Pay in Today’s Market
 
It’s easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a condo or house is trickier.
 
As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!).

 

From Our Buyer University Series...
 

Choosing The Right Professional Agent Is Not Easy


The Toronto Real Estate Board now has well over 50,000 licensed Realtors registered to work in the GTA area.
 
Of those, 80+% sell less than 5 homes per year and almost 50% don’t even sell 3 homes annually.  Many of those agents are working at a full-time job for their income and try to do their real estate business on the side, part-time.

Click Here To Read More


March 2019...
 

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  2019 House Valuation Here


From Our Seller University Series...
 

Who Represents You In A Real Estate Transaction?

Understanding what type of relationship you have with your Realtor, and the brokerage he or she works for, will help you understand how the negotiation process works when you’re selling a home.
 
When an agent is working on your behalf, an agency relationship is created.
 
Typically, in Toronto we see three types of agency…

Click Here To Read More
 

Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For February 2019

The weather has certainly played its part in our slow February real estate market but that’s only part of the story.  There’s a combination of the influences from the mortgage approval stress test (lowers buyer’s mortgage approval limit), the high purchase price cost of moving up to a new home and the large transactional cost of making a move with Toronto and Ontario land transfer tax fees.  All contribute to a slowing down of our market.

Luckily, what’s saving prices from dropping are those two significant moving costs… sellers are not rushing to sell their homes or investments because of the expense of doing so and listing inventories are remaining stable.

Don’t be mislead by the overall numbers though… the Toronto Real Estate Board’s territory is huge from Oshawa to Oakville and north to Lake Simcoe.  The central Toronto house and condo markets remain strong while the outlying neighbourhoods are much slower.

Curious about what your condo or house might be worth in today’s changing market?  

For a condo 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 the FEBRUARY 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.

Thomas
647-962-1650
Thomas@LivingInToronto.com



February Had The 2nd Lowest Number of Sales Since 2001 [VIDEO]

Sales were down 2.4% for February compared to last year with 5,025 houses and condominiums changing hands in all the districts.  This was the lowest number of sales for the month since 2009 and the 2nd lowest since 2001, 18 years ago.

Condo townhouse and high-rise suites took a significant 37.3% share of the market with 1,876 units being sold.

The February average sale price for all GTA homes came in at $780,397– this was a very modest 1.6% increase from 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 February compared to historical numbers increased by 3.3% but were flat compared to last year at this time.

This is actually a good sign since we’re not being overwhelmed with high inventory levels and 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 February, that ratio finished at 37.8% - slightly below last year.  The GTA overall is barely into seller market territory so sellers may need to adjust their pricing expectations if they want to make a move.

The days-on-market average for GTA / Toronto homes was 25 days, 8 days faster than January. 

Watch the video to get the complete February 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!!

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 throughout 2019 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