Market Report - May 2018

By: Jagdeep Singh

Market Report - May 2018

Tags: Toronto, GTA, Real Estate, Market, Sales, Homes, Houses, Condos, Average Price

7,834 sales were reported through TREB’s MLS System in May 2018. This result was down by 22.2% compared to May 2017, however it was up compared to the month of April. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30%. On a month-over-month basis, seasonally adjusted May...Read More

Tall Condos and Fire - Do Residents Know What To Do?

By: Jagdeep Singh

Tall Condos and Fire - Do Residents Know What To Do?

Tags: Home, Alarm, Safety, Condo, Toronto, Fire, GTA, Hazard

The thought of fire in our home is not something we want to think about, but it is a possibility that can occur when we least expect it. Part of prudent home ownership is to be prepared. In a regular house, a bungalow, a 2-storey structure, we all know that in case of a fire we must leave the building and go out in the open. But what is to be done when you are 70 or 80 floors up in the air.  ...Read More

By: Jagdeep Singh

Market Watch: April 2018

Tags: Market, Real Estate, Prices, Homes, Toronto, GTA

During the month of April 2018, 7,792 sales were reported through TREB's MLS® System. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent. The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type...Read More

By: Jagdeep Singh

Luxury Homes Bearing the Brunt

Tags: Luxury Homes, Toronto, Real Estate, Market Watch

On 26 April, I listed and sold a property. The Seller was asking approximately $50K over $1M;  $1,048,000 to be exact. Yes I was able to sell it in 14 days for 97% of the listing price but two months of preparation went into the property, including getting small renovations done, decluttering and staging.  The point I am trying to make is that while on paper, it may seem...Read More

Condos Soar

By: Jagdeep Singh

Condos Soar

Tags: Condos, Toronto, Homes, Real Estate, GTA, Apartments

Buyers looking to less expensive options. Condos see double digit growth. Greater Toronto Area REALTORS® reported 92,394 sales through TREB's MLS® System in 2017. This total was down 18.3 per cent compared to 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 ...Read More

Rents Are Up - Double Digit Gains

By: Jagdeep Singh

Rents Are Up - Double Digit Gains

Tags: Condo, Rental Market, GTA, Toronto, Housing,

  In Toronto, condo rents for studio units are up 11% and up 9.1 per cent on average.  Study finds that rents for condos in Toronto are up 9.1%. One can totally expect them to keep on going up. Reason: The mortgage stress test is going to make it harder for people to buy. This will force a lot of potential home buyers to continue to rent. Add to that the lack of purpose built...Read More

By: Jagdeep Singh

Market Crash. Bubble Bursts.

Tags: Real estate, Toronto, Ontario, Canada, GTA, GGHS, House Prices

Talk about mixed messages. The media reporting on real estate usually is not about presenting statistics but more so about creating a buzz. Take international investors for example. No one says that 91% of real estate buyers are Canadians but everyone reports that 9% of buyers are foreign investors. Recently, all the clients that I am helping to buy and sell properties are seeing a really reduced ...Read More

Market Fluctuations and What They Mean For You

By: Jagdeep Singh

Market Fluctuations and What They Mean For You

Tags: Toronto, Real Estate, Market, Mortgage, Interest Rate Increase, Economy, Greater Toronto Area, GTA

  What happened in July and August isn’t surprising. Number of Sales typically drop in August and July sometimes becomes a pre-cursor to that. However when compared year over year, the sales volume in August was down by 34.8% in comparison to the August of 2016. A total of 6,357 home sales were reported through TREB’s MLS® System for August 2017.  The good news howev...Read More

Smart Home = Smart Savings

By: Jagdeep Singh

Smart Home = Smart Savings

Tags: Energy Efficient, Carbon Footprint, Environment, Homes, Global Warming, Home Energy Costs,

Usually we do not pay any attention to being environmentally friendly. Hopefully, I am wrong about that.  The purpose of this post is the demonstrate how keeping our heating and cooling costs in check, in other words how being efficient in our energy usage, leaves us richer both on a personal and on the environmental level.  It’s very easy for homebuyers to concentrate solely on ...Read More

By: Jagdeep Singh

Market: What do you make of it?

Tags: Market, July 2017, Sales, Homes, Prices Up, Prices Down

Compared to last year, July sales are down, new listings slightly up, average price up by 5% Greater Toronto Area REALTORS® reported 5,921 residential transactions through TREB’s MLS® System in July 2017. This result was down by 40.4% on a year- over-year basis, led by the detached market segment – both in the City of Toronto and surrounding regions. While sales were down, the...Read More