Market Analysis

July 2018




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July 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 July 2018 Condo Valuation Here


From Our Buyer University Series...

 

Get A Credit Card For Your Mortgage

At a time in our market cycle when multiple offers are common and sellers are in control of the offer process, it’s more important than ever to secure your financing commitment before you start going out to look at homes.
 
But there’s a misconception about what that secure commitment entails.
 
What many banks do when qualifying a buyer for a mortgage is to just ask a few questions such as, “What is your annual income?”, and, “What are your debts?”.

Click Here To Read More


July 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 July 2018 House Valuation Here


From Our Seller University Series...

 

5 Best Ways To Absolutely Ensure Your Tenanted Condo Suite Sells

Owners of investment condos in Toronto have had to have patience for values to improve but perhaps that time has finally come.
 
Of course you’ve had to deal with several tenants over the period of your ownership and are probably now very familiar with Ontario tenancy laws regarding providing vacant possession of a condo suite.

Click Here To Read More
 

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

 

Hi [FirstName],

We may have turned a ‘market corner’ in June with the year-over-year average sales price being a positive number (+2%) for the first time this year.  Considering that a large portion of the GTA / 905 around the central Toronto core is definitely hurting from all the government intervention of the past 12 months, this is a good sign!

 

Don’t think that you’ll get a ‘steal’ for a downtown condo suite or a house in Riverdale… the entire downtown/east/west core is still very busy and sales are brisk.  Average house prices in those downtown neighbourhoods haven’t budged much year-over-year BUT condo prices certainly have.

 

They’re showing a 10-13% increase both east and west of Yonge Street in the prime neighbourhoods.

 

If you’re in the market for a luxury + $2M house, you may be in luck.  Sales in that price category were down 60% from 2017.

 

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 JUNE 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.

Thomas
647-962-1650
Thomas@LivingInToronto.com



Condo Sales Get The Most Year-Over-Year Appreciation [VIDEO]

Sales were up 2.4% for June compared to last year with 8,082 houses and condominiums changing hands in all the districts.  This was the 2nd lowest number of sales for the month since June 2003.

Condo townhouse and high-rise suites took a high 35.4% share of the market with 2,864 units being sold.

The June average sale price for all GTA homes came in at $807,871 – this was a modest 2% 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 $746,961), this year’s average was still up 8.2% 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 June compared to historical numbers was up just 7.2% but increased by just 5.9% 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 June that ratio finished at 38.8% compared to 40% 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 21 days, one day longer than in May.

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


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