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 March 2021 Condo Valuation Here
Is the Real Estate Market Going to Crash?
While many areas of the economy have contracted, the housing market has stayed remarkably strong. But can the good news last?
When COVID-related shutdowns began in March, real estate brokers and clients scrambled to respond to the shift. Record-low interest rates caused some lenders to call a halt to new underwriting, and homeowners debated whether or not to put their houses on the market. However, those first days of uncertainty ushered in a period of unprecedented growth in the Canadian residential real estate market, which currently accounts for a record-setting 9% of the country’s overall economic output.
Now, as the spring market approaches, you may be wondering whether the good times can continue to roll on. If you’re a homeowner, should you take advantage of this opportunity by putting your home on the market? If you’re a buyer, should you jump in and risk paying too much? Below we answer some of your most pressing questions.
Read more here
From Our Buyer University Series...
Hidden Closing Costs
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.
You’ll need extra cash on hand to pay for the following
Click Here To Read More
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 March 2021 House Valuation Here
From Our Seller University Series...
Ensure You Answer These 4 Not-So-Surprising Buyer Questions
There are four questions that every condo buyer will want the answers to and, as the seller, you’ll want to know what they are and work out how your suite compares to the rest of the market.
You’ve heard the first one probably since babyhood… location, location, location. A buyer’s preference of location will of course be tempered by the price that they can afford.
In an ideal world, a purchaser could walk to work from their 1,500 sf 2-bedroom condo suite that they just paid $200,000 for in downtown Toronto complete with a parking space and a locker with a balcony view of the lake. Nice dream huh?
Click Here To Read More
Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For February 2021
After 40 years of experience counseling buyers and sellers about Toronto's real estate market, I'm almost speechless.
Every month on the Toronto Real Estate Board new records are being made and February was no exception.
One of the biggest changes has been in the GTA and downtown condo markets. Although downtown active condo listings are up roughly 57% from February 2020, sales are up 85% to 140% in the two main downtown TREB districts. This is the complete reverse of what we saw the condo market do in the last several months of 2020.
Another new milestone is that the average sale price of homes (houses and condos) across the GTA has exceeded $1,000,000 for the first time... that number came in at $1,045,488.
You can read the full February Market Report here.
Has there been any change in your personal situation? Are you considering changing your residence or taking advantage of the current market to buy or sell a rental property?
If you’re considering one of those options, you’d be wise to get some professional advice and counsel as to what the best course of action might be.
If the property you’re considering selling is a Toronto/GTA condominium, I can give you an up-to-date condo suite valuation by going to DowntownTorontoCondoValues.com - please BE SURE to leave me your condo’s monthly maintenance fee so I can send out your report.
If it’s a house that you’d appreciate a valuation for, just 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.
As warm weather finally approaches, I thought you'd enjoy this month's photo of the stormy wave action at the western end of the Island airport. It may soon be outdoor bicycling time .
Toronto Home Prices Hit Highest EVER $$
Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our FEBRUARY 2021 Toronto real estate market report.
The February Toronto real estate market has hit a number of records including the highest ever average sale price and the highest ever number of sales during the month.
So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.
Huge numbers came in once again for February with a record 10,970 sales of houses and condos across the GTA. The next closest to this was way back in 2017 when we had 7,950 sales). Low interest rates and high demand are continuing to boost our local market.
Sales were up 52% from February 2020.
Condo townhouse and high-rise suites hit a new record with sales up by 63% year-over-year and a record 35.5% share of the market with 3,895 units being sold.
The February 2021 average sale price for all GTA homes came in at $1,045,488… a big 14.9% increase compared to one year ago. This was a record high number for any month EVER.
===== Read more=====
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!!
Click to see larger image
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.