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GTA Real Estate Market Report March 2018

by David Stoddard

Sales Down in March 2018 Compared To A Record March 2017

 

 

Greater Toronto Realtors reported 7,228 residential sales through the Toronto MLS system in March 2018. The number of transactions in March represented a 39.5% decline compared to the record 11,954 transactions reported in March 2017.

For the region as a whole detached homes in the GTA experienced the largest sales decline at 46.3%.

The number of new listings reported in March 2018 was down by 12.4% compared to March 2017 and a 3.0% decrease compared to the average for the previous 10 years. The number of active listings reported in March 2018 was up by 103.1% compared to March 2017.

“TREB stated in its recent Market Outlook report that Q1 sales would be down from the record pace set in Q1 2017,” said Mr. Syrianos, TREB’s President. “The effects of the Fair Housing Plan, the new OSFI-mandated stress test and generally higher borrowing costs have prompted some buyers to put their purchasing decision on hold. Home sales are expected to be up relative to 2017 in the second half of the year.”

The average price in March was down by 14.3% from the same time last year to $784,558 due in large part to a smaller share of detached home sales versus last year. In addition, the share of high-end detached homes selling over $2 million in March 2018 was half of what was reported in March 2017, further impacting the average selling price. Condo apartments in the GTA led the way in terms of an average price increase at 6.1% compared to the same time last year. In the City of Toronto the average price was up for condo apartments only.

 

 

“Right now, when we are comparing home prices, we are comparing two starkly different periods of time: last year, when we had less than a month of inventory vs this year with inventory levels ranging between two and three months. It makes sense that we haven’t seen prices climb back to last year’s peak. However, in the second half of the year, expect to see the annual rate of price growth improve compared to Q1, as sales increase relative to the below-average level of listings,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments decreased by 32.0% in March 2018. The average selling price of a Toronto condo (416 area code) increased by 7.1% in March 2018 from the same time last year to $590,184.

Condominium apartments accounted for 30.2% of total GTA sales in March while detached homes accounted for 43.2% of the total sales.

Other notable statistics include the average days on the market for March at 20 days, up from 10 days a year earlier.  The sales-to-listings ratio for March 2018 was 45.2% which is still classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.  

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

 

 

Do you have any questions about Toronto Real Estate? Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

 

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

GTA Condo Market Report Q1 2018

by David Stoddard

Strong Price Growth Continues in Condo Segment

 

 

Greater Toronto area Realtors reported 5,084 condo apartment sales through the MLS in Q1 2018. The number of transactions represented a 29.7% decrease compared to 7,234 transactions reported in Q1 2017.

In the City of Toronto, which accounted for 71.0% of condo apartment sales in the GTA, sales were down by 28.6%. The average selling price in the City of Toronto was $572,391 up 9.6% from Q1 2017.

The number of new listings in the GTA reported in Q1 was down by 11.1% compared to the same period in 2017. The number of active listings in the GTA reported in Q1 was up by 56.7% compared to the same period in 2017.

"Seller’s market conditions for condominium apartments remained firmly in place in Q1 2018. Strong competition between buyers underpinned price growth well above the rate of inflation. We expect the condo market segment to remain strong through the remainder of 2018 and over the longer term, as buyers continue to see ownership housing as a quality long-term investment," said Toronto Real Estate Board President Tom Syrianos.

The average GTA selling price grew in Q1 up by 9.0% from the same time last year to $533,447.

“The condominium apartment segment continues to have the lowest price point on average compared to other major low-rise home types. It stands to reason that condos remain popular with first-time buyers. Strong demand relative to supply will see this segment perform well from a pricing standpoint for the remainder of 2018 and beyond” said Jason Mercer, TREB’s Senior Manager of Market Analyses.

 

 

Other notable statistics include the average days on the market for Q1 2018 at 23 days, up from 16 days a year earlier.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very building  specific. The numbers as reported above are GTA averages. Results in one building do not indicate that all other buildings are experiencing the same results.

The pace of average rent growth continues well-above inflation.

The number of GTA condominium apartments listed for rent in Q1 was down on a year-over-year basis by 11.8%. 

The number of GTA condominium apartments leased in Q1 was down on a year-over-year basis by 7.5% due to the lack of supply.

The average one-bedroom rent for the TREB market area as a whole was up by 11.4% on a year-over-year basis to $1,995. The average two-bedroom rent was up by 9.1% to $2,653.

The vacancy rate for a condo apartment in the City of Toronto for Q1 2018 was 0.7%.

 

 

Do you have any questions about Toronto Real Estate? Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

Four C's In Service and Professionalism

by David Stoddard

"It was a pleasure to have David Stoddard as our agent, both in buying and selling for our move.  David accomplishes the four c’s in service with professionalism. 

First, his competence with the finances, management and business matters of the process demonstrated continuously, putting Leonard and me at our ease

Second, his courtesy is exemplary. Simply put, David has a gentleman’s polish in his manner and social demeanour. 

Third, David’s consistency in manner is unwavering.  David maintains a sense of professional calm at all times, giving an acute focus on every detail with equal attention.  David manages all affairs with the same precision and politeness whenever we dealt with him.

Fourth, our confidence in David’s expertise was totally warranted.  When there was a problem, David suggested viable options, never pushing us to one or the other but respecting our judgment, gave us the background for us to make informed decisions on our direction.  When we needed other professionals, David’s list of associates provided us with the best.

Should we need an agent in the future, David Stoddard will be our first call.  I encourage others to place the trust we have had in his services."

- David Gamble & Leonard Tam

GTA Real Estate Market Report February 2018

by David Stoddard

Below Average New Listings For February 2018

 

 

Greater Toronto Realtors reported 5,175 residential sales through the Toronto MLS system in February 2018. The number of transactions in February represented a 34.9% decline compared to the record 7,955 transactions reported in February 2017.

For the region as a whole detached homes in the GTA experienced the largest sales decline at 41.2%.

The number of new listings reported in February 2018 was up by 7.3% compared to February 2017. However, the level of new listings remained below the average for the month of February for the previous 10 years. The number of active listings reported in February 2018 was up by 147.4% compared to February 2017.

“When TREB released its outlook for 2018, the forecast anticipated a slow start to the year compared to the historically high sales count reported in the winter and early spring of 2017. Prospective home buyers are still coming to terms with the psychological impact of the Fair Housing plan, and some have also had to reevaluate their plans due to the new OFSI-mandated mortgage stress test guidelines and generally higher borrowing costs,” said Mr. Syrianos, TREB’s President.

The average price in February  was down by 12.4% from the same time last year to $767,818 due in large part to a smaller share of detached home sales versus last year. Condo apartments in the GTA led the way in terms of an average price increase at 10.1% compared to the same time last year. In the City of Toronto the average price was up for all home types except for detached homes and semi-detached homes.

Putting aside the price spike reported in the first quarter of 2017, it is important to note that February’s average price remained 12% higher than the average reported for February 2016 which represents an annualized increase well above the rate of inflation for the past two years.

 

 

“As we move further into the spring and summer months, growth in sales and selling prices is expected to pick up relative to last year. Expect stronger price growth to continue in the comparatively more affordable townhouse and condominium apartment segments. This being said, listings supply will likely remain below average in many neighbourhoods in the GTA, which, over the long-term, could further hamper affordability,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments decreased by 29.9% in February  2018. The average selling price of a Toronto condo increased by 10.7% in February 2018 from the same time last year to $570,275.

Condominium apartments accounted for 31.5% of total GTA sales in December while detached homes accounted for 41.9% of the total sales.

Other notable statistics include the average days on the market for February at 25 days, up from 13 days a year earlier.  The sales-to-listings ratio for February 2018 was 38.8% which is still classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.  

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

 

 

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca
 
** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

 

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

 

GTA Condo Market Report Q4 2017

by David Stoddard

Seller Market Conditions Continue in Q4 2017

 

 

Greater Toronto area Realtors reported 5,773 condo apartment sales through the MLS in Q4 2017. The number of transactions represented a 15.4% decrease compared to 6,821 transactions reported in Q4 2016.

In the City of Toronto, which accounted for 72.7% of condo apartment sales in the GTA, sales were down by 15.0%. The average selling price in the City of Toronto was $549,472 up 18.0% from Q4 2016.

The number of new listings in the GTA reported in Q4 was up by 9.8% compared to the same period in 2016. The number of active listings in the GTA reported in Q4 was up by 44.2% compared to the same period in 2016.

"Demand for condominium apartments remained strong relative to listings in the fourth quarter. Even with the uptick in listings, which was certainly welcome, there was enough competition between buyers to prompt double-digit annual rates of price growth. This points to the fact that we still do have a supply problem in the GTA that needs to be addressed to ensure the long term sustainability of the marketplace," said Toronto Real Estate Board President Tom Syrianos.

The average GTA selling price grew in Q4 up by 17.9% from the same time last year to $515,816.

“Seller’s market conditions remained in place for the condominium apartment segment in the fourth quarter. Based on price point, this housing type remains top of mind for many first-time buyers. In addition, as home prices have grown year-over-year some buyers who initially may have considered the purchase of a low-rise home have chosen to purchase a condo apartment as well” said Jason Mercer, TREB’s Senior Manager of Market Analyses.

 

 

Other notable statistics include the average days on the market for Q4 2017 at 23 days, no change from Q4 2016.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very building  specific. The numbers as reported above are GTA averages. Results in one building do not indicate that all other buildings are experiencing the same results.

The pace of average rent growth continues well-above inflation. Greater Toronto Area Realtors reported 5,668 condominium apartment lease transactions in Q4 2017, down by 0.7% from Q4 2016. The number of GTA condominium apartments listed for rent in Q4 was down on a year-over-year basis by 3.4%.  

The average one-bedroom rent for the TREB market area as a whole was up by 10.9% on a year-over-year basis to $1,970. The average two-bedroom rent was up by 8.8% to $2,627.

The vacancy rate for a condo apartment in the City of Toronto for Q4 2017 was 0.7%.

 

 

Do you have any questions about Toronto Real Estate? Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

 

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

GTA Real Estate Market Report January 2018

by David Stoddard

Level of Listings Second Lowest In 10 Years

 

 

Greater Toronto Realtors reported 4,019 residential sales through the Toronto MLS system in January 2018. The number of transactions in January represented a 22.0% decline compared to 5,155 transactions reported in January 2017.

For the region as a whole detached homes in the GTA experienced the largest sales decline at 26.0%.

The number of new listings reported in January 2018 was up by 17.4% compared to January 2017. The number of active listings reported in January 2018 was up by 136.3% compared to January 2017. However, it is important to note that the level of new listings was the second lowest for the month of January in the past 10 years.

“TREB released its outlook for 2018 on January 30th. The outlook pointed to a slower start to 2018, especially compared to the record-setting pace experienced a year ago. As we move through the year, expect the pace of home sales to pick up, as the psychological impact of the Fair Housing Plan starts to wane and home buyers find their footing relative to the new OFSI-mandated stress test for mortgage approvals through federally regulated lenders,” said Mr. Syrianos, TREB’s President.

The average price in January was down by 4.1% from the same time last year to $736,783 due in large part to a smaller share of detached home sales versus last year. Condo apartments in the GTA led the way in terms of an average price increase at 14.6% compared to the same time last year. In the City of Toronto the average price was up for all home types except for detached homes.

 

 

“It is not surprising that home prices in some market segments were flat to down in January compared to last year. At this time last year, we were in the midst of a housing price spike driven by exceptionally low inventory in the marketplace. It is likely that market conditions will support a return to positive price growth for many home types in the second half of 2018. The condominium apartment segment will be the driver ofn this price growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments decreased by 19.8% in January  2018. The average selling price of a Toronto condo increased by 15.1% in January 2018 from the same time last year to $543,279.

Condominium apartments accounted for 31.7% of total GTA sales in December while detached homes accounted for 41.3% of the total sales.

Other notable statistics include the average days on the market for January at 32 days, up from 19 days a year earlier.  The sales-to-listings ratio for January 2018 was 33.8% which is still classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.  

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

 

 

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them

Welcome to 900 Mt. Pleasant Rd, Suite 1102

by David Stoddard

 

For Sale

MLS:C4064742

Suite 1102 Has A CUSTOMIZED Design Not Found In Any of The Other “02” Units.  Working With The Builder At The Time Of Purchase The Current Seller’s Re-Designed The Layout Adding Functional Living Space And Many High-End Tasteful Upgrades To Make This A Truly A One Of A Kind Suite At 900 Mt. Pleasant Rd.

Stunning  South-West  Corner Suite With Three Walk-Outs To Two Large Balconies, South And West Exposure.  Floor To Ceiling Windows. Natural  Light Galore.

Exceptional Split Two Bedroom Design With 1235sf of Functional Living Space. Formal Open Dining Room. Spacious Living Room.

A Large Master Bedroom With A Terrific Walk-In Closet   The 3pc Ensuite Washroom Has A Large Walk-In Shower.

A True Chef’s Kitchen With Marble Counter-Tops, Marble Backsplash, Glass Tile Flooring And Upgraded Cabinets.  Upon Request The Builder Enclosed The Kitchen Thereby Adding More Counter Space And Cabinetry.  Two Pantries Were Added. The Kitchen Separates The Living Space With Two Sets Of Fashionable Glass Doors.

A  Customized Office Space Was Added With Built-In Cabinetry.

The Second Bedroom Is Spacious With A Double Closet And A Walk-Out To A Balcony.

The Second Washroom, Located Away From The Immediate Living Area For Privacy,  Is A 4pc With A Glass Tub Enclosure.

Inclusions: All Light fixtures, All Stainless Steel Appliances: Fridge, Built-In Dishwasher, Stove. Microwave/Hood Fan. Stacked Washer And Dryer. Parking. Two Lockers. Concierge, Gym, Party/Meeting Room, Guest Suite.

For more information click HERE:

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

GTA Real Estate Market Report December 2017

by David Stoddard

Total Sales in 2017 down 18%

 

 

Greater Toronto Realtors reported 4,930 residential sales through the Toronto MLS system in December 2017. The number of transactions in December represented a 7.1% decline compared to 5,305 transactions reported in December 2016. For the the region as a whole detached homes in the GTA experienced the largest sales decline at 13.6%.

Total sales for 2017 at 92,394 was down 18.3% from the record set in 2016.

Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan(FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward their home purchase in response to the new OSFI stress test guidelines effective Jan 1,2018.

The number of new listings reported in December was up by 51.9% compared to December 2016. The number of active listings reported in December was up by 172.4% compared to December 2016.

“Much of the sales volatility in 2017 was brought about by government policy decisions. Research from TREB, the provincial government and Stats Canada showed that foreign home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing plan, which included a foreign buyer tax, had a marked psychological impact on the marketplace. Looking forward, government policy could continue to influence consumer behavior in 2018, as changes to federal mortgage lending guidelines come into effect,” said Mr. Syrianos, TREB’s President.

The average price in December was down by 0.7% from the same time last year to $735,021 due in large part to a smaller share of detached home sales versus last year. Condo apartments in the GTA led the way in terms of an average price increase at 14.4% compared to the same time last year.

The average selling price for 2017 as a whole was $822,681- up 12.7% compared to 2016. This annual growth was driven more so by extremely tight market conditions during the first four months of the year. In the latter two-thirds of 2017, fewer sales combined with increased listings resulted in slower price growth.

 

“It is interesting to note that home price growth in the second half of 2017 differed substantially depending on market segment. The detached market segment- the most expensive on average - experienced the slowest pace of growth as many buyers looked to less expensive options. Conversely, the condominium apartment segment experienced double-digit growth, as condos accounted for a growing share of transactions,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments decreased by 8.8% in December 2017. The average selling price of a Toronto condo increased by 14.1% in December 2017 from the same time last year to $532,700.

Condominium apartments accounted for 31.7% of total GTA sales in December while detached homes accounted for 39.3% of the total sales.

Other notable statistics include the average days on the market for December at 27 days, up from 20 days a year earlier.  The sales-to-listings ratio for December 2017 was 38.1% which is still classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.  

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

 

 

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

RE/MAX 2018 Housing Market Outlook Report

by David Stoddard

 

This past year saw the single-family detached and condo markets diverge on distinctly different paths in Canada's two highest-priced real estate markets, Greater Vancouver and the Greater Toronto Area. The trend is expected to continue into 2018 as a mix of relatively affordability for condo units and price appreciation for detached homes in recent years, combined with government policy changes in both markets, has helped push an influx of buyers toward condo ownership.

In Greater Vancouver, demand for condos continues to outpace supply, resulting in the average price of a condo rising an estimated 16 per cent year-over-year, from $553,604 in 2016 to $643,778 in 2017. The GTA’s condo market also saw price appreciation of 22 per cent in 2017, as the average sale price for a condo rose to an estimated $523,437, up from $429,241 in 2016.

The significant condo price appreciation was not matched in the single-family detached home market, as prices were roughly stable year-over-year in Greater Vancouver and up a relatively more modest eight per cent in the GTA in 2017.

According to a survey conducted by Leger on behalf of RE/MAX, the appetite for home ownership remains strong with roughly half of Canadians (48 per cent) considering the purchase of a home in the next five years. Of those who are considering purchasing a home, the top three reasons for doing so are to upgrade their current home, to purchase a starter home as a means of entering the housing market and to up-size from their current home to accommodate a change in family make-up. The survey also found that access to outdoor spaces was a key factor for many Canadians when considering purchasing a home, with 87 per cent agreeing that access to green space was important to them and 82 per cent agreeing that having a backyard was important.

For the full report click HERE.

 

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

GTA Real Estate Market Report November 2017

by David Stoddard

Uptick in Demand for Ownership Housing

 

 

Greater Toronto Realtors reported 7,374 residential sales through the Toronto MLS system in November 2017. The number of transactions in November represented a 13.3% decline compared to 8,503 transactions reported in November 2016.

For the region as a whole detached homes in the GTA experienced the largest sales decline at 19.1%.

The number of new listings reported in November was up by 37.2% compared to November 2016. The number of active listings reported in November was up by 110.6% compared to November 2016. The supply of listings in November 2016 was very low from a historical perspective.

“We have seen an uptick in demand for ownership housing in the GTA this fall, over and above the regular seasonal trend. Similar to the Greater Vancouver experience, the impact of the Ontario Fair Housing Plan and particularly the foreign buyer tax may be starting to wane. On top of this, it is also possible that the upcoming changes to mortgage lending guidelines, which come into effect in January, have prompted some households to speed up their home buying decision,” said Mr. Syrianos, TREB’s President.

The average price in November was down by 2.0% from the same time last year to $761,757 due in large part to a smaller share of detached home sales versus last year. On a year-to-date basis the average selling price was up by 13.4% compared to the same period last year. Condo apartments in the GTA led the way in terms of an average price increase at 17.7% compared to the same time last year.

 

 

“Changes in market conditions have not been uniform across market segments. In line with insights from consumer polling undertaken by Ipsos in the spring, we are still seeing seller’s market conditions for townhouses and condominium apartments in many neighbourhoods versus more balanced market conditions for detached and semi-detached houses. We will have more insights to share about consumer intentions for 2018 at the end of January when TREB releases its third annual Market Year in Review and Outlook report ,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments decreased by 6.1% in November 2017. The average selling price of a Toronto condo increased by 17.7% in November 2017 from the same time last year to $555,396.

Condominium apartments accounted for 30.0% of total GTA sales in November while detached homes accounted for 42.5% of the total sales.

Other notable statistics include the average days on the market for November at 24 days, up from 17 days a year earlier.  The sales-to-listings ratio for November 2017 was 40.5% which is still classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.  

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property's market value range 

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

 

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way......if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I'll be happy to follow up and take great care of them.

Displaying blog entries 1-10 of 334

Contact Information

David Stoddard
RE/MAX Hallmark Realty Ltd Brokerage
968 College Street
Toronto ON M6H 1A5
(416)520-6746
Fax: 1-866-248-2303
David Stoddard B.A., M.A., A.B.R.
Sales Representative
Direct: 416-520-6746
David@DavidStoddard.ca