Market Analysis

July 2020



Report On Downtown Toronto Condo Prices
 

Add Value To Your Home With These 9 DIY Improvement
 

Whether you’re prepping your house to go on the market or looking for ways to maximize its long-term appreciation, these nine home improvement projects are great ways to add function, beauty, and real value to your home.
 
The best part is, once you’ve secured the materials, most of these renovations can be completed over the course of a weekend. And they don’t require a lot of specialized skills or experience. So grab your toolbox, then get ready to boost your home’s appeal AND investment potential!

Read more here


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?
 
Then they will just throw you in their car, take you around and tour you through a bunch of homes.  More often than not many of those homes don’t fit your needs.
 
The problem with that is it wastes your time.  You spend your weekends or evenings going out and looking at homes that don’t even come close to what you really want to be moving into.

Click Here To Read More


July 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 July 2020 House Valuation Here


From Our Seller University Series...
 

Beware Of Awkward Sensory Experiences Destroying Your Sale
 

How do you think your condominium suite, or building for that matter, will stand up to an examination by every buyer’s senses… sight, smell, hearing, feel and taste?  Well, maybe not taste so much but certainly by the other four.

Prospective purchasers will have all four of those senses turned on high when they enter your building, take the elevator to your floor and then enter into your suite.  Because your home is new to them, they’re excited to experience what it would be like to live there full time.

When you are finalizing your preparations to put your home on the market, take two tours of your residence… one in the daytime and the other at night… and turn your 'sense meters' on high and pay attention to what you notice.

Click Here To Read More
 


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

WOW, what a comeback!!!  Despite Covid-19 showing hurdles, the June Toronto real estate market roared back with a record-setting average sale price and sales numbers that were almost equal to June 2019.

June’s market also highlighted a trend towards larger homes in the 905 districts… sales of detached houses were up 10.4% year-over-year and detached prices in the 905 were up 11.7%.  Perhaps people are thinking that, if they’re going to be working from home more often with families close by, they need more space to work and play.

The downtown condo market, by contrast, moved at a much slower pace than the overall market with slower sales compared to June 2019 and a 50-80% boost in listing inventory levels.  However, even with the reduced market speed, average sale prices still maintained a 8-11% increase over one year ago.

On a personal note, I joined the Toronto Freedom Boat Club in June.  I’ve had various boats for many years but sold my last waterski boat a couple of years ago and I’ve been missing being out on the water.

For those who aren’t familiar with what it is, you pay an initial one-time membership fee plus a monthly payment and you get the unlimited use of boats (either 2 or 4 reservations made at one time) the local club has at the Outer Harbour Marina plus the ability to access Freedom Boat Clubs anywhere in the US.

One trip I did last week with family and friends was east along Lake Ontario close to the Scarborough Bluffs.  We chose a deserted beach to go ashore and have a relaxing BBQ for a few blissful hours.



With the current state of the condo rental market and the desire of some families to move up to more space, you may be considering the possibility of making a move.

If either of these events has happened to you, OR you need some advice and counsel as to future options, I can offer some help.

The first thing you’ll need to know is what are your options and what are their respective costs (and benefits) to you.  The second is to find out what your condominium or house is worth in today’s topsy-turvy world.

To arrange for an up-to-date 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 June 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



 

Toronto Average Home Prices Hit Record High In June [VIDEO]
 

What a recovery!! In June, at the end of the traditionally busy spring market, sales were almost back to the busy levels from 2019 with 8,701 houses and condominiums changing hands in all the districts.
 
Condo townhouse and high-rise suite sales were down by 12.5% with a 28.5% share of the market and 2,479 units being sold.  This however is almost a 90% jump over May 2020 condo sales!
 
The June average sale price for all GTA homes came in at $930,869, up about $65,000 from the month before and a big 11.9% increase compared to 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 June compared to historical numbers was lower by 29% compared to last year at this time.
 
It’s clear that the coronavirus hit to our market has almost disappeared on the sales side while inventory levels are lagging.
 
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.
 
While in May that ratio (40.2%) had come up significantly from April, the June ratio made a big jump into seller market territory with a 62.1% ratio.
 
The days-on-market average for GTA / Toronto homes was 18 days, 6 days faster than May.
 
Watch the video to get the complete June 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