Condo market in Toronto

Toronto Home Sales Up- Condos Increasing More In Value Than Freehold Real Estate

July 5th, 2018- In a continuing tight market, we are seeing 416 condo apartment sale prices rising 9.5% since a year ago, (now $605,530 on average), semis up 1.4%, (to $999,754), and detached home prices down 2.4% to an average price of $1,354,429. The average sale price of a detached home in Central Toronto in June 2018 was $2,164,616. Mortgage rates are set to rise, but they are still very low. Read the full TREB report and for personal real estate advice, contact Andrea Stark, Sales Representative, J&D Division, Royal LePage RE Services Ltd., Brokerage 416-489-2121

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Toronto Real Estate Sales Down But Some Segments Rising In Price

June 4, 2018- The number of home sales may be down from last year’s peak, but flat from the month before, so stable. New listings are down and active listings are up 13.2%, with an average time to sell of 20 days on market. in the 416 area, the average sale price of a detached property is down 5.6% from a year ago. Condo apartment sale prices are up 6.5%. Read TREB’s full report and, to negotiate the intricacies of this market, contact Andrea Stark, Sales Representative, Diamond Award Winner 2017, Royal LePage RES Ltd., J&D Division, Brokerage 416-489-2121

Toronto Real Estate Home Sales May Be Down From Last Year’s Highs, But There Are Some Price Gains……………………..

May 4, 2018- From a high point in Spring 2017, sales may be down 32% and the average sale price of a detached home down 14.3% (to $1,354,719), but due to demand and low inventory, some homes are currently attracting multiple offers and way over list sale prices. And condo apartments are selling 3.8% higher on average than a year ago (now $601,211). Many buyers plan on buying a property in the GTA, so once the current volatility due to governmental policies like new mortgage rules has settled, we expect sales and prices to pick up even more in the Toronto Real Estate Market. Read TREB’s Market Watch Report and, for personal real estate advice, contact Andrea Stark, Sales Representative, Johnston & Daniel Division, Royal LePage RE Svcs. Ltd., Brokerage 416-489-2121

Toronto Home Market Experiences Slowest March Sales In 10 Years

April 4, 2018- TREB’s March 2018 stats are out today, which show that,  from the average March statistics from the past ten years, the number of home sales is down over 17%, active listings are down 3%, and the average sale price is down 14.3% since last year- for all types of properties- except condo apartments, with sales price increases of over 6% since March 2017. Is it time for you to rightsize to a condo? Or pick one up as an investment? Contact Andrea Stark, Sales Representative, J&D Division of Royal LePage RES Ltd., Brokerage 416-489-2121

Toronto Condo Market Overtaking Toronto House Market

March 6, 2018- Although the number of residential real estate sales is down 35% from February 2017, sale prices of condo apartments are up 10.7% in Toronto and condo townhouse prices are up 15.5%! Detached house prices are down 18.6%. Semi-detached home sale prices are down 9%. In Central Toronto, the average sale price of a detached home is $2,027,761 and the average condo apartment sells for $645,195. With limited land to develop, and fewer house owners selling, the only way to add more units is to build vertically. Read the full details of the February 2018 TREB report here. For personal real estate advice and services, including info on preconstruction condo projects, contact Andrea Stark, Sales Representative, J&D Division of Royal LePage RE Services Ltd., Brokerage 416-489-2121 andrea@andreastark.ca

Toronto Condo Market Keeps Sizzling Through Winter

February 6, 2018- The Toronto Real Estate Board’s January 2018 statistics show that, although 416 detached home prices are down 12% from a year ago, the average 416 condo apartment sale price is up 15%. Still, due to the low inventory of homes on the market, many freehold properties are selling over asking. Let’s also keep in mind we started 2018 under freezing cold weather conditions, whereas 2017 began quite warm. With new borrowing rules and rising interest rates, (and the weather warming up), the time to list is NOW, while some buyers still have pre-approvals at lower rates under the old rules. Don’t wait for Spring. Read the full Toronto Real Estate Board Report here and for advice and personal real estate guidance, contact Andrea Stark, Sales Representative, Johnston & Daniel Division of Royal LePage RE Svcs., Ltd., Brokerage 416-489-2121

Strong Demand For Condos Leads Toronto Real Estate Market News

December 6, 2017- Condo apartment sale prices are up 17.7% from a year ago and condo townhome prices are up 12.3%. There is strong demand for condos of all sizes and types- including the over $2,000,000 price point. The freehold house market is less predictable right now. For example, prices of detached homes in Central Toronto are down 1.7% from a year ago, although some attract multiple offers and sell over asking. The feeling is that the newest wave of government regulations, regarding mortgage lending, which come into play after the end of this year, will not affect the ability of most buyers to buy and that we will see a strong Spring market- condos especially. Read all the details in TREB’s new Market Watch report and for confidential, personalized real estate service, contact Andrea Stark, Sales Representative, Johnston & Daniel Division of Royal LePage Real Estate Services Ltd., Brokerage 416-489-2121