Finally the weather man has predicted a weekend of no rain. Can you believe it's been 6 weeks since we last had no rain on either Saturday or Sunday. In fact the only thing I'm more tired of is reading and listening to what the media has to say about the housing market in Toronto. There wasn't a week that went by that some so called expert didn't write their views about the market. For sure market conditions have changed and we are all adjusting, so why don't they give it a rest.
Read moreMARKET UPDATE FOR THE WEEK ENDING JUNE 16TH, 2017
Before my market update I'll like to give a RIP to P. Gone way to soon.
In Real Estate there ain't no "shook ones" its "survival of the fittest".
Back in the old days of real estate the Realtors® would work hard up until the end of June and then they would take the summer off, as did most of their clients. Over the past many years the Spring market has lasted well into the summer with usually just a short break in the dog days of August. We are definitely feeling old school with the slow pace of listings and even slower pace of sales heading into summer this year. It reminds us though, as the families stop thinking about real estate and start thinking about camp, that there is a new summer real estate season driven by the tens of thousands of students who flock to the city to study at one of the many universities.
Read moreMARKET UPDATE FOR THE WEEK ENDING JUNE 9TH, 2017
If the real estate market were like a game of golf we would probably be on the back nine right now wondering if we were going to pull our game together or bogey our way to the clubhouse. If you are a Seller you are definitely wondering how your game fell apart so quickly after hitting the fairway with every drive and sinking every putt through the beginning of the season. The confusing part might be why the Buyers haven’t picked up their game as we finish out the season. The market has definitely started to slow down
Read moreMARKET UPDATE FOR THE WEEK ENDING MAY 26TH, 2017
This week we had to order three extra bottles of water for the water cooler as it seemed everyone was spending an inordinate amount of time chatting about what to do next in real estate. We watched as the listings went down before the long weekend and as expected that resulted in lower sales last week. And as is typical after a long weekend the numbers of new listings jumped substantially thereafter. The trend we have been watching carefully is the number of sales that are occurring above their listed price. In both the condo and
Read moreMARKET UPDATE FOR THE WEEK ENDING MAY 19TH, 2017
Dear Vancouver, we are wondering if what is going on with our market is the same thing you went through last year? You see, our listings continue to go up and sales have dropped off substantially. Yet the Toronto Real Estate Board just released the mid-May statistics and shared that in the first two weeks of May prices have gone up over 17% compared to the same time-frame last year. And you might want to sit down for this next stat, because the leader of the pack was none other than condominium apartments which increased over 28% in value over the same period last May.
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