Market Analysis April 2018



Toronto Buyers and Sellers Connect With Us

 

Get The Best Real Estate News From The Authority


@TorontoRealEstateAnalysis

People always want to learn what’s happening from someone they trust.

Be sure to ‘Like’ our Facebook page to keep up-to-date on what's happening in Toronto's market.
 

 


April 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 April 2018 Condo Valuation Here


From Our Buyer University Series...


How Much Are The ‘Hidden Costs’ Associated With Buying A House Or Condo?

OK, you’ve got a down payment saved BUT did you know that there are significant costs associated with purchasing a house or condo?  So you not only need to have funds set aside for your down payment - a minimum of 5% of the purchase price for homes below $500,000 and approximately 7% when buying above $500K - you’ll also need extra money to pay your closing costs.

Click Here To Read More


April 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 FreeApril 2018 House Valuation Here


From Our Seller University Series...

 

9 Downsizing Tips To De-Clutter And De-Stress Your Move

When singles or families are downsizing, or right-sizing, once their existing long-time home has become too large for them, one of the most difficult parts of the move is deciding on what to eliminate.
 
In a simple world, you’d just take the opportunity to start over… get rid of everything you have right now, buy all new and have a fresh start..

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


Hi [FirstName],
 
On the face of it, the numbers look bad… a massive 14.3% drop in the average sale price from one year ago, a 40% drop in sales from last March and a 147% increase in active listings.
 
The problem is that these stats are ONLY a comparison to 2017’s market which was, for the first five months, an ‘outlier’ year.  We are still doing very well if you compare us to years prior to 12 months ago.
 
There is no question that some geographic and demographic Toronto markets are taking a hit.  
 
While the change in market conditions certainly played a role, the dip in the average selling price was also compositional in nature. 
 
Detached home sales, which generally represent the highest priced homes in most neighbourhoods, declined much more than other home types. In addition, the share of high-end detached homes selling for over $2 million in March 2018 was half of what was reported in March 2017, further impacting the overall GTA average selling price.  I’ve done an analysis of this specifically in this month’s Market Report.
 
Some of the GTA neighbourhoods surrounding Toronto have seen their sales numbers and average sales prices drop significantly.
 
However, for the most part, houses and condominiums in Toronto’s central core have not taken a hit at all and sales are brisk.  The downtown condo market saw 11.6% average sale price increases west of Yonge and 14% east of Yonge.
 
Would you like to check on how much your Toronto condo or house might be worth in today’s market?  
 
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 updated 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 March 2018 Market Report Analysis and please keep us in mind when any of your friends are talking about buying or selling real estate in Toronto.
 
Thomas
647-962-1650


Don’t Panic As The Average Sale Price Shows A 14.3% Drop [VIDEO]


Sales were down 40% for March compared to last year with 7,228 houses and condominiums changing hands in all the districts.  This was the lowest number of sales for the month since March 2009.

Condo townhouse and high-rise suites took a highest-ever for March 37.2% share of the market with 2,686 units being sold.

The March average sale price for all GTA homes came in at $784,558– this was a big 14.3% decline from one year ago.  Considering that March 2017 was an over-the-top crazy market, if instead you compare 2018 with 2016 (with an average of $688,011), this year was still up 14% 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 March compared to historical numbers was up 4.4% but increased by a big 103% 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) may not be 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 March that ratio finished at 45.3% compared to an insane 152% last year.  The GTA is now into a 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 20 days, 5 days faster than February.

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



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

Well Maintained And Cared For 2 Storey Semi-Detached House

This lovely home, steps from the lively Danforth stretch, has a recently renovated kitchen, upstairs bathroom, and master bedroom, recently painted interior walls and exterior brick. 3 bedrooms & 2 bathrooms with high-ceilings and large windows let in ample natural light.

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


Stunning Class A Motor Home

This pristine 2014 Forest River Georgetown 335DS with about 15-18,000 km on the clock is a stunning Class A motorhome. It has a very efficient floor plan and a prestige package of features. There are 2 slideouts (for both bedroom and living room) and room to sleep up to 5-6 people.

It's not hard to drive and I've towed a 16-foot enclosed trailer with all my toys in it.  I've spent two winters living in it in Florida plus summer weekends on Buckhorn Lake in the Kawarthas and absolutely loved it.

Take a look at this beautiful Georgetown RV's features and photos right 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 a Professional Realtor

As successful Toronto realtors helping condo and house buyers since 1980, we've developed many programs and services to assist people with their real estate needs.

There are important benefits and advantages to being prepared.

Beware of making significant buying or selling mistakes.

Here's the free stuff you don't want to miss



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

Download any of these free reports

Author || Ultimate Home Buyer’s Guide
Author || Home Buyer's Financing Guide
Author || Insider Tips For Getting The Best Price (Condo)
Author || Get Free Money From The Federal Government
Author || Best Capital Gains Tax Advice For Smart Investors
Author || Guide To Attracting The Best Tenants
Author || Guide To Downtown Toronto Condo Prices
Author || 
Insider Advice For Getting The Best Price (House)

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