Market Analysis June 2018



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June 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 June 2018 Condo Valuation Here


From Our Buyer University Series...

 

Should You Get A Condo Inspected

Historically for house purchases, there have been two primary conditions that most offers have included. 

They are conditions on

  • Financing
  • Home inspection

If you’re buying a condominium townhouse, you’d certainly want to have an inspection which would include the exterior features of the premises such as the roof and windows, and all the interior systems such as heating, cooling, central vac, plumbing and wiring.

Click Here To Read More


June 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 June 2018 House Valuation Here


From Our Seller University Series...

 

How To Avoid An Upcoming Showing Meltdown

What do you do when your Realtor calls and wants to show your condo in say, ½ an hour? 

I guarantee that this will happen and, of course, we always want to accommodate serious showings don’t we?
 
Jump for joy first, since someone wants to look at YOUR home, right? 

Then, panic.  As you hang up the phone, you notice that your wee one has been at it again… your condo is CLEAN, it’s just not TIDY. Now, what do you do?

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

 

Hi [FirstName],

Have you driven around downtown Toronto recently?  If not, you might be surprised.  Everywhere there are big signs posted notifying of a permit request to build a high-rise, either condo or rental, and there are lots of BIG holes being dug to start construction on new buildings.

It’s like a big awareness has come over people that living the condo lifestyle downtown is an OK thing, and it’s even a very attractive option for many who previously only considered owning a house.

I’ve been asked by some folks if there’s not going to be an oversupply at some point and that’s a valid question.  I attended a New Home Market Analysis presentation by the Altus Group last week where the speaker pointed out several important statistics.

First, 2017 holds the record for the most brand new suites sold (28,880) versus just 10,000 back in 2000.  The average cost per square foot was $882 and, significantly, the majority of suites sold were 2-bedroom or 2+den units. 

And, most importantly, to counter the fear of oversupply, of all the builder’s supply, from all across the GTA, ONLY 300 suites have been completed and ready for occupancy but not yet sold as of the end of May.  

In fact, there is only a 4 month's supply of new condo inventory available in the GTA from pre-construction sales compared to 13 months of supply for brand new houses.

Downtown condominiums are the future for Toronto because of affordability and their super location.

Would you like an update on what 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 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 May 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
Thomas@LivingInToronto.com



The Market Is Shifting To Condos [VIDEO]

Sales were down 22% for May compared to last year with 7,834 houses and condominiums changing hands in all the districts.  This was the lowest number of sales for the month since May 2002.
 
Condo townhouse and high-rise suites took a highest-ever for May 38.2% share of the market with 2,992 units being sold.
 
The May average sale price for all GTA homes came in at $805,320 – this was a modest 6.6% decline from one year ago.  Considering that May 2017 was the turning point in last year’s crazy market, if instead you compare 2018 with 2016 (with an average of $752,324), this year was still up 8.9% 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 May compared to historical numbers was up just 6.1% but increased by a significant 13.2% 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 May that ratio finished at 37.4% compared to an 55% 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 20 days, the same as in April.

Watch the video to get the complete May 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