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

So where will the market go from here?  You’ll see my report below on the state of the market for the month of September and there’s some expected and some surprising results to find out about.
One of the biggest ‘market disrupters’ may be coming at the end of October and taking effect for January 1st.  That’s the ‘stress test’ requirement for EVERY buyer, not just those with less than 20% down, to have to qualify for their mortgage based on the Bank of Canada 4.84% rate instead of the rate the bank is actually offering (i.e. 2.92% for a 5-year fixed mortgage).
The theory behind this, which does make sense for buyers with less than 20% down, is to ensure that, if interest rates rise by up to a full 2%, they’ll still be able to afford making the payments and avoid defaulting.  I’m not so sure it makes sense for those with over 20% down who have a big cushion of equity to protect them in the event rates rise.
The result of this is buyers with more than 20% down will also have their buying power cut by almost 20%.  High-ratio buyers are already subject to this stress test.  For example, to qualify for a $500,000 mortgage, a borrower would have to prove they could afford to pay an additional $545 per month in mortgage payment.
This new regulation might cause a flurry of sales this fall as buyers try and avoid these cutbacks in mortgage qualification but also might result in a market slowdown once they’re implemented.
Is it time for you to sell, or maybe buy your first home or an investment property?  Our Starbucks Strategy Session is designed as a way to get all your real estate questions answered over an espresso or latte and give you the information you’re looking for to decide on your best path forward.
If you currently own a condo in Toronto, you can get a quick market value update by going to  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 September Market Report and please keep us in mind when any of your friends are talking real estate in Toronto.

Is the chaotic Toronto housing market in good shape? [VIDEO]

Sales were down 35% for September compared to last year with 6,379 houses and condominiums changing hands in all the districts.  Although it’s common for the market to rebound higher once the summer months were over, this did not happen… we had the lowest sales for September since 2012.
Condo townhouse and high-rise suites took a bigger 36.4% share of the market with 2,325 units being sold.
The September average sale price for all GTA homes came in at $775,546 – a mere 2.6% higher than last year.
If you consider the year-to-date average compared to last year however, the market is still up 15% which shows that not all those gains in price during the insane spring have been lost.
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 September compared to historical numbers was just about even but up a big 69% from last year at this time.
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 September that ratio finished at 33.5% - compared to 87% last year and down from March’s 154%.  We’re now just in a ‘barely above neutral’ slight seller market territory so owners with their homes on the market may need to adjust their expectations if they want their home sold.
The days-on-market average for Toronto homes was 24 days, 1 day faster than August.

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

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

From Our Mortgage University Series...

Will Applying For Mortgage Negatively Affect Your Credit Score?

When you apply for a mortgage, you must have your credit checked. It is the only way a mortgage company can really determine whether you can qualify for financing and what your rates and fees will look like.
If you are applying for multiple forms of credit at the same time, such as a credit card, a mortgage and an auto loan, such actions will negatively impact your credit score.

Click Here To Read More

October 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 October 2017 condo valuation here

From Our Seller University Series...

Successful Ways To Avoid Dreadful Scarcity Thinking

This is a BIG one… getting rid of the accumulation of years of stuff!  Sometimes it is piles of books, newspapers and other paraphernalia that have built stacks and other times it is extra furniture or kids toys that have grown in numbers.

Either way, the goal is to slim down, dispose of LOTS of stuff and put items into storage that you will want in your new home.

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...

Should You Buy A Parking Space?

According to a new article in the Toronto Star, condo buyers in Toronto are shifting towards a trend that sees them saying “no thanks” to parking spots more often, instead preferring to make do with public transit or appreciate many Toronto neighbourhoods’ ease of walkability.

There are several factors impacting this trend.

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 Harbourfront Community In Toronto

The Harbourfront is a waterfront neighbourhood at the heart of downtown Toronto. Not only do condos here boast incredible views, the area is home to a flurry of festival activity both in the summer and winter months. 
The community also continues to grow. A major Habourfront/Waterfront business and civil revitalization plan is underway, ensuring that the Harbourfront continues to be a well regarded place to live, work and play in the city of Toronto.

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.


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

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  

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