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

 
Despite attempts at governmental interference with Toronto’s real estate market, the freight train keeps trucking along full speed.  Average prices are up, multiple records are being broken and sellers are rejoicing.

It’s a completely different feeling of frustration however if you are a first-time buyer seeking a chance to become a home owner or a move-up buyer finding it extremely difficult to find a replacement house first before committing their home to the market.

Long-time condo investors are finally able to reap some rewards for their patience with condo price increases not far behind those of the semi and detached home market.

Watch the video (see link below) for the full March Toronto real estate market report.

I have now written two books to help all kinds of Toronto condo and house buyers learn how they can successfully work with our present busy market to buy a home.

With multiple offers being the norm now, having an in-depth of how mortgage financing works is critical to getting your offer accepted.  I’ve just completed a new book entitled ‘Toronto Home Buyer’s Financing Guide’ which tells all.  It’s free as a download.

Many people are interested in getting into our market but hold back because they really don’t understand the home buying process.  Some are making mistakes which could lead to being sued by the seller or costing them thousands once they move in.  If this is you, I’ve written ‘The Ultimate Toronto Home Buyer’s Guide’ 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 sent 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


8 Best-Ever Statistics For Toronto’s March Real Estate Market [VIDEO]

Sales were up dramatically for March compared to last year with 12,077 houses and condominiums changing hands in all the districts. Sales were actually up almost 18% above March of 2016.

Condo townhouse and high-rise suites took a 33.5% share of the market with 4,050 units being sold… a highest-ever number for any March.

The March average sale price for all GTA homes came in at a record breaking $916,567 – a significant 33.2% higher than last year.

Interestingly, 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.  We had a 52% decline in inventory for the month of March compared to historical numbers and lower by 35% 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 March that ratio finished at 153.6% - compared to 85% last year.  We’re still in ‘extreme’ seller market territory and there’s nothing really to slow that down going forward!

The days-on-market average for Toronto homes was at a record low of just 10 days.

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



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


Avoid Costly Mistakes When Getting
Pre-Approved For A Mortgage 

In today’s busy Toronto market, buyers often have to go in with either a firm, no conditions offer or occasionally with just a very short financing condition.  Otherwise the seller will choose to accept someone else’s offer.

Once you sign that firm offer, you’re irrevocably committed to buying that home!

You can’t risk doing that without understanding how mortgage financing works and getting a FULL mortgage pre-approval ahead of time.

Reading the Toronto Home Buyer’s Financing Guide will give you clear, easy to understand guidance on how to approach the mortgage pre-approval process.


From Our Blog...

Will Ontario Implement A Foreign Buyer Tax?

In early March, the Ontario Finance Minister said that one of the options for next steps in cooling the housing market in the province could be a foreign buyer tax, similar to the 15 per cent tax that was enacted in Vancouver...

Click Here For More Information


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:
The Entertainment District in Toronto

Toronto’s Entertainment District is well-known as the home of the Toronto International Film Festival, but it also has so much more to offer. From theatre and dance to sports and restaurants, the entertainment found in this neighbourhood can suit any taste.

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


April 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 April 2017 condo valuation here
 


From Our Blog...

Buying A Home: Closing Costs

Purchasing a new home is not as simple as finding a home, paying for it, and taking ownership. There are a number of different costs associated with purchasing a home which need to be paid up front and can’t be financed, and these are called closing costs...

Click Here For More Information


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

Experience || Thousands of homes sold since 1980

Professional Designations || ABR, SRES

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

Charity Support || Over $110,000 contributed to the Toronto Sick Kids Hospital