Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For June 2017


The Toronto and GTA market is having a bit of a shake-out with some neighbourhoods still doing well and others where sales have dropped right off (York Region in particular).
 
If you’ve read any of my previous market reports you’ll have seen me reference the ratio of sales-to-listings which is a measure of how strong, or weak, the market is.  In the first 3-4 months of 2017 that ratio was sometimes well over 100% which indicates an extremely excessive market.  Something over 28% is a seller’s market and under 24% is a buyer’s market.
 
Over the past several years that ratio has been ranging between 40% and 60% which indicates a busy to very busy seller’s market.  In June, that ratio came in at 40.5%… a big drop from recent months but actually very normal for the market in general.
 
So… for buyers, take this as an excellent opportunity to purchase the home of your dreams.  For sellers, have your agent show you the recent sales of condos or houses like yours and price your home accordingly.  The time for having ‘crazy buyers paying crazy prices’ is past for now.
 
Many people are interested in getting into our market but hold back because they really don’t understand the home buying process.  Some are jumping in but risking making mistakes which could lead to being sued by the seller or costing them thousands once they move in.  
 
It’s even more important in a changing market to learn from an agent who really understands what’s going on and who has the experience and expertise to advise and counsel you.
 
If this sounds like you, I’ve written ‘The Ultimate Toronto Home Buyer’s Guide’ book to help get you up to speed about the entire home buying process and help you avoid a lot of stressful situations.
 
This book is also free as a downloadable PDF or you can request the paper-back version to be mailed to you if that’s the way you like to read and learn.  You can get either version here.
 
Please enjoy this month’s newsletter and keep us in mind when any of your friends are talking real estate in Toronto.
 
Thomas


BIG Drop In The June Market Stats [VIDEO]

Sales were down 37.4% for June compared to last year with 7,974 houses and condominiums changing hands in all the districts.
 
Condo townhouse and high-rise suites took a bigger 37.6% share of the market with 3,000 units being sold.
 
The June average sale price for all GTA homes came in at $793,915 – a still significant but much more moderate 6.3% higher than last year.
 
Because of higher prices for semi and detached houses, sales and competition for condo suites has now brought the high-rise market into extremely high demand.
 
The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been.  The inventory average for the month of June compared to historical numbers was just about even but up a big 60% from last year at this time.
 
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 June that ratio finished at 40.5% - compared to 99% last year and down from May’s 55%.  We’re now just in a ‘busy’ seller market territory so sellers need to be aware that it’s not the craziness of previous months!
 
The days-on-market average for Toronto homes was 15 days, 4 days slower than May.

Watch the video to get the complete June 2017 Market Report details.



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


From Our Mortgage University Series...

Get Some Timeline Guidance

Actually, it’s never too early to start thinking about how much of a mortgage you might qualify for.  Many people start looking at condos or houses online or at open houses 6-18 months ahead of when they’re thinking they might buy.

Click Here To Read More


July 2017...

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 July 2017 condo valuation here


From Our Seller University Series...

3 Improvements NOT To Do Before Selling Your Home

It’s tempting… install new hardwood floors, add in a new granite countertop, build in new closet organizers, hang new window coverings… all the things you’ve always wanted to do to your suite.

Click Here To Read More


Learn How To Sell Your Toronto Condo For Top Dollar Fast

Download your own copy of the Insider Tips For Getting The Best Price book.

By reading this book you’re on your way to helping yourself have a successful sale and getting the highest price possible.  As the saying goes ‘Knowledge Is Power’.
 
Become a smart, educated seller, download your guide here to help you confidently sell your condo for the best price.


From Our Buyer University Series...

Why Meet With An Agent Before Starting Your Home Search?

One of the things that most agents do when you first contact them is to ask you a few questions over the telephone such as what are you looking for, how many bedrooms and bathrooms and what neighbourhoods were you thinking of?

Click Here To Read More


Avoid Making Serious Home Buying Mistakes

Download your own copy of the Ultimate Toronto Home Buyer's Guide book.

Whether you’re a first time buyer or you’re ready to move to your next home, you need to find out how to avoid the pitfalls of buying a house or condo in today’s busy Toronto / GTA real estate market.
 
Jump start your real estate search by understanding how the complete home buying process works. Learn about what a buyer agent does to protect you throughout the buying process.
 
Become a smart, educated buyer, download your guide here to help you get confidently prepared for your home search.


For Those Of You Who Like Trivia...

Every month 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


Featured Neighbourhood:
East of Yonge (south of Bloor) in Toronto

East of Yonge and South of Bloor divides midtown and downtown Toronto and provides quick and easy access to both subway lines. Along with being a prime downtown location, this area is home to many notable restaurants and shops, while popular destinations like Yorkville, Cabbagetown and Church and Wellesley are nearby.

Click here to see the listings for this community...


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 2017 whenever you hear friends talk about real estate at any time... we're here to advise, consult and help.

Thomas


Can I Buy You A Coffee Next Week?

When you're buying a house or condo for the first time there are just so many questions... What do I need to do first? Why are multiple offers happening? How can I beat the odds and get that dream home when there's competition. How can I avoid picking the wrong house or condo building?

Your head is probably buzzing with those and many more questions.

The best way to get the process started is to sit down for a casual 20-30 minute chat with someone who knows many of the answers that you need... no cost or obligation... just with the intention of giving you some solid advice and counsel to help you put a home buying plan together.

Pick a time and date to have a coffee (or tea) at LetsMeetForACoffee.com


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

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

Experience || Thousands of homes sold since 1980

Professional Designations || ABR, SRES

Awards || RE/MAX'S 2ND highest award - Circle Of Legends

Charity Support || Over $115,000 contributed to the Toronto Sick Kids Hospital