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.
5 Inspiring Home Design and Remodelling Trends for 2021
We’ve all spent a lot more time at home over the past year. And for many of us, our homes have become our office, our classroom, our gym—and most importantly, our safe haven during times of uncertainty. So it’s no surprise to see that design trends for 2021 revolve around soothing colour palettes, cozy character, and quiet retreats.
Even if you don’t have immediate plans to buy or sell your home, we advise our clients to be mindful of modern design preferences when planning a remodel or even redecorating. Over-personalized or unpopular renovations could lower your property’s value. And selecting out-of-style fixtures and finishes could cause your home to feel dated quickly.
To help inspire your design projects this year, we’ve rounded up five of the hottest trends. Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate your property, give us a call. We can help you realize your vision and maximize the impact of your investment.
From Our Buyer University Series...
Mortgage Terminology Explained
Sometimes when you’re reading about mortgage financing or talking to a banker or mortgage broker, it seems like they’re talking in a different language. They may be using terminology that you’re unfamiliar with.
Here’s a short list of the most common words or phrases you might come across.
Mortgage term and amortization often get mixed up. Amortization is the number of years that it would take to pay your mortgage off to zero if the payment and interest rate were the same all the way through. For us today, the amortization is most commonly set at 25 years. So if you started out today with a $500,000 mortgage, the payments would be set so that your balance would be zero $$ at the end of 25 years.
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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 February 2021 House 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. They were bigger and many times were an actual room and sometimes had actual space for a small kitchen table.
In the 2000’s to the present it’s more likely that the kitchen is open to the rest of the suite, sometimes with an island separating it from the living room but most often is set along one wall and completely open to everything else.
Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For January 2021
Seems like my last month's condo market prediction is coming true even sooner than I thought.
In January we had the most condo townhouses and high-rise suites sell in Toronto Real Estate Board history for that month. Additionally, condos of all types made up the highest percentage of sales for any month anytime (44%).
With January average sale prices for downtown high-rise suites showing a 13% decline from one year ago, there's a momentary opening for condo buyers to take advantage and seize the opportunity to jump into the market.
For the market overall, the average selling price registered ($967,885) was the second-highest on record for any month and TRREB predicts that the average will pass $1,000,000 sometime soon this year.
You can read the full January 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.
Keep warm and stay safe.
2nd Highest Average Sale Price – Condo Sales Making A Comeback
Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our JANUARY 2021 Toronto real estate market report.
The 2021 Toronto real estate market has started off gangbusters with gains in some unexpected areas.
So… let’s review some of the Toronto Real Estate Board statistics and see what’s happened.
Big numbers came in once again for January as we’re now starting off the year with record sales of 6,928 sales of houses and condos across the GTA. The next closest to this was way back in 2017 when we had 5,155 sales). Low interest rates and high demand are continuing to boost our local market.
Sales were up 52% from January 2020.
Condo townhouse and high-rise suites hit a new record with sales up by 74% year-over-year and a record 44% share of the market with 3,050 units being sold.
The January 2021 average sale price for all GTA homes came in at $967,885… a big 15.5% increase compared to one year ago. This was the 2nd highest number for any month to date.
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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.