Report On Downtown Toronto Condo Prices
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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 September 2020 Condo Valuation Here
Move-Up vs. Second Home: Which One Is Right For You?
The pandemic has changed the way many of us live, work, and attend school—and those changes have impacted our priorities when it comes to choosing a home.
According to a recent survey by The Harris Poll, 75% of respondents who have begun working remotely would like to continue doing so—and 66% would consider moving if they no longer had to commute as often. Some of the top reasons were to gain a dedicated office space (31%), a larger home (30%), and more rooms overall (29%).
If you’re feeling cramped in your current space, you’ve probably considered a move. But what type of home would suit you best: a move-up home or a second home? Let’s explore each option to help you determine which one is right for you.
Read more here
From Our Buyer University Series...
How Can A Buyer Agent Protect You?
Prior to 1995 the rules were different as they pertain to who is representing whom in the real estate transaction. At that time, both the listing agent, and the agent showing homes to buyers (called a sub-agent), were both working for the seller.
There was no confidentiality whatsoever. For example if the seller asked the sub-agent ‘Will your buyer pay more?’ that agent was supposed to reveal anything that the buyer had told them. For many of us however that didn’t happen.
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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 September 2020 House Valuation Here
From Our Seller University Series...
3 Improvements NOT To Do Before Selling Your Home
It’s tempting… install new hardwood floors, add in a new granite countertop, build in new closet organizers, hang new window coverings… all the things you’ve always wanted to do to your suite.
A typical buyer often has three problems when it comes to doing renovations, and this especially applies to first-time buyers who have no experience whatsoever.
First, the thought of doing any renos scares them because they have no idea what things cost and they almost always estimate the expense as twice as much as it really is. Second, they’re often busy, busy people and have no time to do things themselves and third, after paying their down payment and closing costs, they’re totally out of money.
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Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For August 2020
You can really feel the change in the weather over the Labour Day weekend… a portend of the cool weather to come as we get closer to October.
But there was nothing ‘cool’ about Toronto’s real estate market in August… we set several records for sales numbers and highest-ever average sale price.
It was a combination of pent-up demand from our Covid quarantine period plus 5-year term mortgage interest rates hovering around the 2.0% range.
Sales of detached and semi-detached houses led the way with high double-digit sales increases over August 2019 and lower double-digit appreciation numbers.
For the full AUGUST market summary, watch the video or read my August 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.
With the current state of the condo rental market (rents lower by 12-18%) 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.
Have a marvellous September and keep my contact info handy to answer any real estate related questions.
Market Won’t Slow Down… Several Records Have Been Smashed [VIDEO]
Big numbers came in once again for August as the traditionally slower summer month showed record sales of 10,775 sales of houses and condos across the GTA. Our real estate market is displaying the pent-up demand generated after months of being shut down due to Covid.
Condo townhouse and high-rise suite sales were up by 16.6% with a 28.8% share of the market and 3,104 units being sold. Although not a record, August 2020 sales were only exceeded by those in 2016 (by just over 400 suites).
The August average sale price for all GTA homes came in at $951,404… a big 20.1% 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 August compared to historical numbers was higher by just 5% compared to last year at this time.
Compare that slight inventory increase to a 40% year-over-year sales increase. That’s why we’re seeing such a big jump in appreciation.
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.
Despite the busy market… the August ratio declined slightly to 64.7%... still a very busy seller market.
The days-on-market average for GTA / Toronto homes remained steady at 17 days.
Watch the video to get the complete August 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!!
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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.
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.