Market Analysis

August 2018




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August 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 August 2018 Condo Valuation Here


From Our Buyer University Series...

 

Did You Know Condo Maintenance Fees Can Increase?

According to a new study by TD Canada Trust, the majority of condo owners don’t realize that there’s a possibility their monthly condo maintenance fees could change at any time.  And they rarely, if ever, go down!

The survey polled condominium buyers in Vancouver, Calgary, Montreal and Toronto, and 68 per cent of the respondents said they didn’t know that condo fees could increase any time over the course of their condo ownership.

Click Here To Read More


August 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 August 2018 House Valuation Here


From Our Seller University Series...

 

Magic Formula For Home Selling Success

Every industry has its particular formulas for success and real estate is no exception. These formulas are, for the most part, not taught in any real estate school or seminar, although they are not a secret to the most successful Realtors in the business.

If you asked them, most agents wouldn’t even be able to tell you what the successful formula is for getting a client’s listing sold for the best possible price.

Click Here To Read More
 

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

 

Hi [FirstName],

There were some more positive sales and appreciation numbers showing up in July with the GTA-wide average sales price up by 4.9% from one year ago.
Downtown condominium suite sales showed slightly mixed results east and west of Yonge but selling prices were up 11-13% year-over-year.

As a buyer, you can expect a busy market for both houses and condos in the core area and there’s a good chance you might still encounter a multiple-offer situation.

Sellers should take careful note of RECENT market sales when deciding what their pricing should be.  Pricing is trending now to be more closely aligned to what REAL market value is… rather than underpricing by 10’s of thousands of dollars to elicit multiples.

I’m still amazed by how many listing agents don’t take the effort to market their homes effectively with photos, virtual tours and print materials.  I see dark (or very few) photos online all the time.

If you’re curious about what’s for sale in a specific Toronto community, go to Search.LivingInToronto.com where you can customize what you’re looking for by neighbourhood and price range.

Would you like to know if your home has appreciated over the past few years?  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 current on market activity and analysis throughout each month go to Facebook and ‘Like’ my Toronto Real Estate Analysis page.

Watch the video or read the JULY 2018 Market Report Analysis and please keep me in mind when any of your friends are talking about buying or selling real estate in Toronto.

Have an amazing ‘rest of the summer’!  It’s hard to believe it’s almost over already.

Thomas
647-962-1650
Thomas@LivingInToronto.com



Finally... An uptick in sales and average sales price [VIDEO]

Sales were up 19% for July compared to last year with 6,961 houses and condominiums changing hands in all the districts.  This was the 2nd lowest number of sales for the month since July 2010.

Condo townhouse and high-rise suites took a significant 36.3% share of the market with 2,537 units being sold.

The July average sale price for all GTA homes came in at $782,129 – this was a modest 4.9% increase from one year ago.  Considering that May/June 2017 was the turning point in last year’s crazy market, if instead you compare 2018 with 2016 (with an average of $710,500), this year’s average was still up 10.1% 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 July compared to historical numbers was up just 7.8% but increased by just 5.2% 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) are not 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 July that ratio finished at 35.3% compared to an 31.3% last year.  The GTA is now into a very moderate 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, four days longer than in June.

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


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


Starter CityPlace Condo In An Iconic Building

This gorgeous downtown 1-bedroom plus den suite has brand new hardwood floors throughout and has been completely repainted. There are floor-to-ceiling windows, built-in cabinets and a walk-out to a NW-facing balcony.

There are plenty of amenities and a short walk to restaurants and a new elementary school.

See lots of photos, a virtual tour plus a floor plan and more information 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 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