MARKET UPDATE FOR THE WEEK ENDING FEBRUARY 23RD, 2018

Should you list low and generate multiple offers, or should you list the property at what you think its worth? That seems to be a popular question in the office this week. There are many factors to take into consideration. The location, the condition of the property, and the price point. When you look at new listings coming out at least eight out of 10 properties have an offer date. What we are not seeing as much these days are bully offers. Buyers seem to be a bit cautious and would rather wait. After much discussion it comes down to the agent and the Seller making the decision.

There was a big sigh of relief as more listings came to market across the 416. The downtown core saw freehold listings jump by 60 percent compared to the week before and.....

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MARKET UPDATE FOR THE WEEK ENDING FEBRUARY 9TH, 2018

The media likes to sell sob-stories to survive. The TREB market report was released this week and the news release in the media was all doom and gloom. Well not so in the City of Toronto. The average selling price at the end of January was $766,616, up 5.5 percent from a year ago which was $727, 928. The number of new listings came in at 2,776 for the end of January slightly lower than a year ago at ....

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MARKET UPDATE FOR THE WEEK ENDING JANUARY 19TH, 2018

The Toronto real estate market has had a sluggish start with slim listings and hesitant buyers. Generally speaking January is a slow month for new listings, but the demand is high and now that most of the snow has melted it is time to start seeing "For sale "signs popping up. Sales have dipped 6 percent in the first half of January in the GTA area compared to the same period last year. It seems the overall market is affected because of the 12 percent drop in condo sales so far in January compared to the same time last year.

 

In the freehold sector listings continue to be a source of concern. A year ago there were 251 new listings compared to just 209 this year. The good news is there were more sales posted this week up by almost 34 percent compared to the previous week. As we continue, the hope is more Sellers will come to market soon and not wait until March. The demand is strong thanks to a robust economy. The condo sector has seen more listings come to market. Last week we had .....

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Market Update Week Ending January 5th 2018.

Happy New Year ...... So the year begins. Let's sum up the market for 2017.

 

• GTA realtors reported 92,394 sales through Treb's MLS- down 18.3 percent compared to (113,133) the record set in 2016

• Record sales in Ql were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan was announced.

• The average selling price for 2017 was $822,681- up 12.7 percent compared to 2016.

• The "stress" test was introduced in October causing a rush

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Market Update: September 1 st 2017

Back to school in September always feels like the beginning of a new year for real estate. We are all prepping and preparing for the Fall Market. So many predictions are made but time will tell us how it will all unfold. The Toronto Real Estate Board stats came out the other day and the average cost of a home in August was $732,292 up ....

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