Market Analysis

February 2020



February 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 February 2020 Condo Valuation Here


Take Advantage of Your Home Equity: A Homeowner’s Guide

Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. Neighbourhoods with high rates of homeownership have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.
 
But one of the biggest perks of homeownership is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families, and a recent study showed that the median net worth of homeowners can be up to 80 times greater than that of renters in some areas.
 
So how does purchasing a home help you build wealth? And what steps should you take to maximize the potential of your investment? Find out how to harness the power of home equity for a secure financial future.

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


February 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 February 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 January 2020

 

We got a fast start to the Toronto real estate market in January despite the weather.  Sales were up 15.3% over last January and appreciation year-over-year skyrocketed to 12.3% for our overall GTA marketplace.

This busy situation is a carry-over from the exceptional fall market where we saw appreciation level increases starting in September.

The impact of our active market became clear when one of my buyers decided to sell his downtown house this spring after purchasing it over 20 years ago. 

He’d bought it for just under $200,000 and has diligently paid down his mortgage to zero balance since then.  Now he and his partner are building a house up in the Kawarthas to retire to and his TO home’s market value has increased to about $1,700,000.  That is a nice tax-free chunk of money to carry forward into retirement.

Absolutely no-one would have predicted that type of value increase back in the 1990’s!

When he purchased his house, it was in a sketchy downtown area and the property needed a lot of work.  He persevered and over the years did the improvements necessary to bring it to the value it is at today and the neighbourhood improved dramatically.

The lesson here… get into the market at a level where you can right now.  Pay down your mortgage, do any value-adding improvements and, eventually, use that buildup of equity to move on to your next home.

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 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 January 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.

Hope you’re taking some relaxing vacay time this winter, even if it’s just hanging out at a cafe downtown.  

Thomas
647-962-1650
Thomas@LivingInToronto.com




January Delivered Near-Record
Y-O-Y Appreciation [VIDEO]

In January sales were up 15.3% compared to last year with 4,581 houses and condominiums changing hands in all the districts.
 
Condo townhouse and high-rise suite sales were up by 13.8% with a 38.3% share of the market and 1,753 units being sold.
 
The January average sale price for all GTA homes came in at $839,363, up 12.3% 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 January compared to historical numbers was lower by a huge 35% 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 January that ratio finished at 58.9% - almost 26% above last year and a continuation of what we saw in December 2019.  This is an indication of a continuing strong, steady market as we start to move into the 2020 spring market.
 
The days-on-market average for GTA / Toronto homes was 30 days, 3 days faster than December.
 
Watch the video to get the complete January 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