Market Analysis

March 2020



March 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 March 2020 Condo Valuation Here


Top 5 Home Design Trends For A New Decade

Whether you’re planning a simple refresh or a full-scale renovation, it’s important to stay up-to-date on the latest trends in home design. Sellers who make tasteful updates can generate increased buyer interest and, in some cases, a premium selling price. And buyers should consider which features of a home will need updating immediately (or in the near future) so they can factor renovation costs into their overall budget.
 
Even if you have no immediate plans to buy or sell, we advise our clients to be thoughtful about the colours, materials, and finishes they select when planning a remodel, or even redecorating. Choosing over-personalized or unpopular options could hurt a home’s value when it does come time to list your property. And selecting out-of-style or overly-trendy elements could cause your home to feel dated quickly.
 
To help, we’ve rounded up five of the hottest home design trends for 2020. Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate your property, give us a call. We can help you realize your vision and maximize the impact of your investment.

Read more here


From Our Mortgage University Series...
 

Easy And Most Effective Affordability Measurement

Creating a budget before you buy a condo or house is crucial to keeping your financial house in order.
 
You don’t want to get yourself into a situation where you are ‘house poor’ and not able to enjoy your new home.
 
You’ll want to consider every expense that you currently incur monthly to see where you spend your money now and then work out where you might be able to save money and cash flow in the future.

Click Here To Read More


March 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 March 2020 House Valuation Here


From Our Seller University Series...
 

Closing Costs For The Condo Seller

There’s a lot to think about when you’re moving, so many of us forget to investigate the various costs associated with closing a deal.
 
Following is a summary, which was prepared with the assistance of a legal expert, that will give you a guideline for some of the costs you may incur when you are selling your condominium.
 
Generally, the closing costs associated with a sale are substantially less than those involved in a purchase.

Click Here To Read More
 


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

Sorry for missing you last month… a technical glitch with the company’s servers prevented my JANUARY Market Report email from going out BUT you can still read all my January newsletter’s commentary and important analysis by CLICKING HERE.

February really jumped into busy spring market mode with lots of big numbers for both sales and year-over-year appreciation.

The ratio of sales-to-listings jumped to 82.3%, a number not seen since the spring market of 2016, meaning that there’s only about 1.2 months of inventory on the market.  This is a very low number… we’ve typically seen 2 or more months in the past year or so.

As usual, the lack of listings and a strong pool of buyers are driving prices up… we hit a record $910,290 average Toronto Real Estate Board sales price in February.  Downtown condo prices also hit big numbers with average appreciation rates east of Yonge at 10.6% and west of Yonge at 19% year-over-year.

IF 2020 is the time for you to make a ‘jump in’ or a ‘leap up'… sell your condo and move up to a larger suite or house, decide it’s time to take your equity buildup and sell that investment condo OR make a decision to downsize to a smaller home, the first thing you’ll want to do is find out how much your existing property is valued in today’s market.

For a condo suite valuation, go to DowntownTorontoCondoValues.com - please BE SURE to leave me your condo’s monthly maintenance fee so I can send out your report.  

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 Thomas Cook In Toronto page.

Watch the video or read my February 2020 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




Highest Ever Average Sale Price [VIDEO]

In February sales were up 45.5% compared to last year with 7,256 houses and condominiums changing hands in all the districts.
 
Condo townhouse and high-rise suite sales were up by 27.5% with a 33% share of the market and 2,392 units being sold.
 
The February average sale price for all GTA homes came in at $910,290, up 16.7% 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 was lower by a huge 33.6% compared to last year at this time.
 
This inventory imbalance is causing price increase in many, but not all, GTA districts.
 
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 82.3% - almost 45% above last year and a continuation of what we saw in January 2020.  This is an indication of a continuing strong, steady market as we start into the 2020 spring market.
 
The days-on-market average for GTA / Toronto homes was 23 days, 7 days faster than January.
 
Watch the video to get the complete February 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