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


Despite some poorer numbers, the 2017 Toronto real estate market is coming to a somewhat positive end.
 
While listing inventory is up 110% overall, sales are down13.5% and the average sale price has dropped 2% from last fall’s frenzy, it’s not all bad news.
 
While a 13.5% sales drop seems like a lot, if you excluded the November 2016 sales and compared all the rest of the Novembers since 2000, our 7,374 sales would look excellent.
 
Because the overall housing average price is so high, the downtown condominium lifestyle is looking pretty good to a lot of buyers.  Sales south of Bloor were the 2nd highest ever with their average sale prices up 23-25% year over year.
 
Even with the new mortgage qualification rules coming into force as of January 1st, I believe that condos will maintain their popularity.
 
You might want to get a quick market value update for your Toronto condo and it’s pretty easy… Just go to DowntownTorontoCondoValues.com.  
 
If you’re a Toronto / GTA house owner, send me a text or email with your property address and I’ll do the research for you right away.
 
Enjoy this month’s November Market Report and please keep us in mind when any of your friends are talking real estate in Toronto.
 
Thomas


Except For Downtown Condos, TREB Listings Up By 110% [VIDEO]

Sales were down 13.5% for November compared to last year with 7,374 houses and condominiums changing hands in all the districts.  Sales are still high by historical standards however if 2016 is excluded from the comparison.
 
Condo townhouse and high-rise suites took a 37.5% share of the market with 2,768 units being sold.
 
The November average sale price for all GTA homes came in at $761,757 – and for the first time in many years, 2.0% lower than last year.
 
If you consider the year-to-date average compared to last year however, the market is still up 12% overall.
 
The active listing inventory is one of the strongest indicators of how smooth or outrageous the market has been.  The inventory average for the month of November compared to historical numbers was up 10% but increased by a big 111% 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 November that ratio finished at 40.5% - up from October but down compared to 98% last year and down from March’s 154%.  We’re now into 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 24 days, 1 day slower than October.

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



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


From Our Mortgage University Series...

How Much Mortgage Can You Afford… Crunch The Numbers

How Far Will Your Money Go At Today’s Rates?
 
Amortization schedules, 2.5 per cent five-year, closed rate, bi-weekly payments… you might know all these mortgage terms by now, but have you sat down and figured out how much condo or house your money will buy?

Click Here To Read More


December 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 December 2017 condo valuation here


From Our Seller University Series...

Pay The Highest Attention To This Important Room

Along with the bathroom, the kitchen is a very important room to get right when you’re selling your condo.

There’s often a big difference between the kitchen layouts in suites built back in the 1980’s and the 1990’s however. In the 2000’s to the present it’s more likely that the kitchen is open to the rest of the suite.

Click Here To Read More


Learn How To Sell Your Toronto Condo For Top Dollar Fast

Download your own copy of the Insider Tips For Getting The Best Price book.

By reading this book you’re on your way to helping yourself have a successful sale and getting the highest price possible.  As the saying goes ‘Knowledge Is Power’.
 
Become a smart, educated seller, download your guide here to help you confidently sell your condo for the best price.


From Our Buyer University Series...

Cautionary Tips If You Have A Pet

Many Ontario residents know that in a rental building, they can have pets even if their lease has a no pets clause. Provided their pet is not a nuisance and doesn’t cause other tenants’ harm, human rights laws in Ontario override these “no pets” clauses.
 
However, a common misconception is that this is the case in any situation, such as in a condo.

Click Here To Read More


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 Bay Street Community in Toronto

The Bay Street community is ideal for those who are looking for an authentic urban lifestyle. It’s home to all kinds of people, from students to doctors who need a fantastic place to live in the downtown Toronto core where everything is within walking distance from shops and restaurants to public transportation and universities.

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


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 this fall and into 2018 whenever you hear friends talk about real estate at any time... we're always 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
Author || Home Buyer's Financing Guide
Author || Insider Tips For Getting The Best Price
Author || Get Free Money From The Federal Government

Experience || Thousands of homes sold since 1980

Professional Designations || ABR, SRES

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

Charity Support || Over $115,000 contributed to the Toronto Sick Kids Hospital