Toronto Market Observations May 2014

Toronto Summer 2014

Yes, sales are up, again, by a staggering 19% in Toronto! The average price of a detached home in the 416 is pushing a million dollars.



http://www.huffingtonpost.ca/2014/05/20/toronto-house-prices-soar_n_5359659.html?utm_hp_ref=canada-business

The number of detached homes sold last month were 1300 with a year over year appreciation of 13% in value.

[Flash back 4 years] http://youtu.be/mu269xorKBY   Same Media Perspective.

Sales in the 905 are selling 3 times as many for houses with 3,500 units but the individual price is averaging $645K.  Simply put, you are driving till you can afford it. 

Sales in tony neighbourhoods like Roncesvalles Village and Bloor West only numbered  57 and 91 units respectively fueling multiple offers approaching $966,000 as an average sale.

While the House Prices are up, Condo prices are flat with values that reflect 2009  pricing as more units become available.

Skyrocketing house prices are forcing more first-time buyers into condos, just to get a foothold in the housing market; only 53% of Toronto home buyers can afford detached houses.

Why is the number of average homes declining?

Seniors (Baby Boomers) are not selling but are instead IMPROVING and Renovating their homes for a long term ownership and are sitting on their real estate assets. This further constricts the supply.

http://www.theglobeandmail.com/news/british-columbia/boomers-sitting-on-163-billion-in-real-estate-holdings/article18770674/?cmpid=rss1

Rentals are also softening their prices with a vacancy rate of 1.5% but bare in mind 70% of Condos in Toronto are Owner Occupied. (MacLeans) 
http://www.macleans.ca/society/life/condo-hell/

There is a huge pool of singles, both young and old that live alone. Condos feed that need and lifestyle. Although sales numbers seem high, this market is in temporarily oversupply. In a few years time there will be fewer and the dynamic changes again.

If you would like to discuss what's happening in the Toronto Real Estate Market I invite you to add your comments here.

If you would like to buy or sell Give me a call.

647 218 2414
I answer my own phone

David Pylyp

Price Match Policy

Full Service Brokerage

Overhead at the Bank Recently " We charge 2% for Currency Exchange to convert $US Dollars to Canadian Funds.  The discount to 1.5% applies on currency conversions in excess of $100,000.   That event / service can occur in one second. 

Our Group can provide 3 levels of service for your real estate transaction in the Toronto GTA. The Plus, Premium and Prestige Packages.  I would be pleased to explain them in person.  I will;

¨  Install a “For Sale” sign on the front of your property

¨  Provide a lockbox

¨  Prepare and process all data forms

¨  Have colour feature sheets prepared to highlight the unique qualities of your property

¨  Create “BUZZ” for your property by networking with other agents as soon as the property is listed - agent open house held in the first week of listing your property

¨  Send targeted emails to agents, past clients and potential buyers to generate interest about your property

¨  Hold public neighbourhood open house to generate public interest

¨  Feature your home on the Homes West Toronto websitewww.DavidPylyp.com

¨  Feature your property on the MLS (Multiple Listing Service)www.REALTOR.ca

¨  Feature your property on the RE/MAX website (www.remax.ca)

Especially for your home, I will do the following:

¨  Post and Syndicate Blogs about your property

¨  Take Digital Pictures for Loading to Toronto Real Estate Board

¨  Shoot additional property digital pictures for Slideshow upload

¨  Shoot Virtual Tour – Process, Render and upload to Video Sites

¨  Generate the QR code for your property

¨  Circulate your advertisement to online real estate sites

¨  Provide MLS data sheet with monthly payment, closing cost and financing calculators; income to qualify

¨  Initiate email follow up of agent prospect showings

¨  Maintain weekly reporting by email of marketing activities

¨  Report on local real estate competition changes

¨  Follow your lawful instructions

¨  The most critical stage  in your real estate transaction, the offer and its accompanying negotiations, I will personally represent you at the offer table and do my utmost to obtain the best possible price and terms for you by using my 22+ years of negotiating experience to your advantage.

¨  Ensure that the deposit accompanying your offer is certified and/or deposited into our Real Estate Trust Account within two banking days and help your lawyer where needed to expedite the sale.

¨  Assist where possible to ensure the timely completion of all conditions contained in your Agreement of Purchase and Sale.

¨  Ensure your Lawyer, Banker, Appraiser, Insurance Broker have necessary documents.

¨  PDF all documents for record keeping.

   I will attend with you at your real estate closing.

All this material and samples are available to you. Call for an appointment 416 233 9000

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I am pleased to compare commission rates in writing, provided only that my competition  provide the same services that as I do.   My Price Match Policy will match any competitors  quote for services [ for identical or comparable services ] with any written quotation.

When do you check on a Shut in?

We have all over - heard the conversations.     What will you do?

You talk at the Office Water cooler...

How many days will pass that your Mom and Dad NOT answer the phone before you go and see if they are ok?    How can you prepare for an unexpected event? 

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Accredited Seniors Agent course, in Toronto, Ontario, provided the tools, resources and experience to help you.

Call me 416 233 9000