Market Analysis

October 2020



October 2020... 
 

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 2020 Condo Valuation Here


5 Secrets Buyers and Sellers Must Know About Virtual Home Tours
 

For years now, virtual home tours have helped real estate buyers far and wide find the perfect home. From overseas buyers, to investors expanding their portfolio, to homeowners looking for a vacation getaway, this technology makes finding a house that’s a bit out of driving distance much easier. And for real estate agents, virtual tours have been a useful way to help buyers with their home search and to assist sellers in creatively marketing their listings.
 
Because of the pandemic, virtual home showing options recently experienced a huge spike in popularity. One survey found that nearly 33% of recent home tour requests were for virtual tours, as compared to just 2% pre-pandemic. And it’s easy to see why.
 
Buyers want to quickly find their next safe haven, one that may need to serve as their office, gym, and even classroom for months to come. And sellers want to limit the number of strangers in their home, yet still have the ability to reach enough potential buyers to get the best offer on their property.
 
Virtual home tours are the popular thing right now, but that doesn’t automatically mean they’re the only option for your homebuying or selling experience. In this post, we’ll reveal five important secrets behind the virtual real estate scene. Read on to learn how they impact today’s home buyers and sellers.

Read more here


From Our Buyer University Series...
 

How Much Can I Afford?
 

One of the most important things any buyer must do before getting excited about house or condo shopping is to find out how large a mortgage they could be approved for.  If you don’t  you might find out you're interested in homes that are out of your price range OR the opposite - you could actually afford a larger property or buy in a different neighbourhood.
 
There are two calculations that every lender takes into consideration… the Gross Debt Service ratio (GDS) and the Total Debt Service ratio (TDS). These permissible numbers will vary depending on your credit score.

Click Here To Read More


October 2020...
 

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 October 2020 House Valuation Here


From Our Seller University Series...
 

A Free Service - Get A Room By Room Review Done
 

We act as valuable consultants and advisors to assist home owners with maximizing their sale price. Our Room-by-Room Review helps a condominium or house owner prioritize what to do to stage their home for the buyer’s eyes, by working on the big things first. 

The goal… to make your condo suite or house show better than all the other competitors in the market!

When’s the best time to have a Room-By-Room Review done?

The earlier that you do your Review prior to your ‘ideal’ selling date the better.

Click Here To Read More
 


Toronto's Real Estate Team
Toronto Real Estate Market Analysis
For September 2020

My downtown condo on Queens Quay overlooks one of the city’s buildings where they’ve been replacing an old roof and creating a brand new green roof with new sod which was just finished this week (see photo above).  I love it that the city is initiating this type of roof to fight climate change… they did it also on the new school / community centre that was just completed this year on Fort York Blvd in CityPlace.

I’ve chronicled the progress of tearing apart the old roof and building the new one with photos (I’m always curious about how things are built) which I’ll share on my Facebook page in the near future.

As for the Toronto real estate market… it continues to tear along at full speed and continues to break new records for sales volume and average sale price.

You can read the full report OR watch the YouTube video here.

Has there been any change in your personal situation?  Are you considering changing your residence or buying / selling an investment property?

If you’re considering one of those changes, you may need some 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.

Have a marvelous October and keep my contact info handy to answer any of your real estate related questions.

Thomas
647-962-1650
Thomas@LivingInToronto.com



 

Highest Ever Average Sale Prices… 200%+ Increase In Downtown Condo Inventory [VIDEO]
 

Big numbers came in once again for September as the start of the fall market again showed record sales of 11,083 sales of houses and condos across the GTA.  Low interest rates and high demand are continuing to boost our local market.
 
Condo townhouse and high-rise suite sales were up by 20.7% with a 29% share of the market and 3,213 units being sold.  Although not a record, September 2020 sales were only exceeded by those in 2016 (by just over 100 suites).
 
The September average sale price for all GTA homes came in at $960,772… a big 14% 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 September compared to historical numbers was higher by just 5% compared to last year at this time.
 
Compare that slight inventory increase to a 42% 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 September ratio declined slightly to 61%... still a very busy seller market.
 
The days-on-market average for GTA / Toronto homes dropped 1 day to 16 days.
 
Watch the video to get the complete September 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!!

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.

Thomas


 

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.

 



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

Become a smart, educated Toronto buyer or seller.  Go ahead and download any of these books or reports at no charge.

Author || Ultimate Home Buyer’s Guide
Author || Home Buyer's Financing Guide
Author || Insider Tips For Getting The Best Price (For Toronto condo sellers)
Author || Get Free Money From The Federal Government (For 1st-time buyers)
Author || Best Capital Gains Tax Advice For Smart Investors
Author || Guide To Attracting The Best Tenants
Author || Guide To Downtown Toronto Condo Prices (for Toronto condo buyers)
Author || 
Insider Advice For Getting The Best Price (For Toronto house sellers)

Awards || RE/MAX's 2nd highest award - Circle Of Legends
Experience || Thousands of homes sold since 1980
Professional Designations || ABR, SRES
Charity Support || Over $117,500 contributed to the Toronto Sick Kids Hospital