September 11, 2018 11:09 amPublished by Stephen Pryce
Yonge Street South from Bloor to Gerrard is on a future path with a wrecking ball and from the ashes will arise giant glass condos! There are some amazing buildings on Yonge street that date back to when Toronto was first put on the map. I’m happy to say that most of these buildings will survive. If you remember all the ugly late 50’s-early 60’s buildings along Yonge Street well worry no longer these eye sores will be disappearing soon. It’s amazing to see how many decades it’s taken to watch Yonge Street change. It’s our most important Street in Toronto and probably the best known street in Canada. From sad to fab Yonge is changing for the better. First image is Yonge between Alexander and Wood Second image is Yonge at Wellesley Third image is Yonge at Gerrard... View Article
September 7, 2018 11:23 amPublished by Stephen Pryce
August was a good month for detached homes! A 12.3% increase in sales over last year and prices have climbed 4.9% for the 416. All those detached homes buyers who were sitting on the fence decided to jump off and get into a home. Toronto Real Estate board president Gary Bhaura sums it up best: “It is encouraging to see a continued resurgence in the demand for ownership housing. Many home buyers who had initially moved to the sidelines due to the Ontario Fair Housing Plan and new mortgage lending guidelines have renewed their search for a home and are getting deals done much more so than last year. In a region where the economy remains strong and the population continues to grow, ownership housing remains a solid long-term investment.”
The recent decision by the Supreme Court of Canada to make the sale price of homes public has stirred feelings of glee and annoyance. My view is, “What’s the big deal?!” I think it’s good for consumers to have access to this information. But!, Yes, there is a “But!” If you don’t understand why a house sold for the price it sold for, these sold prices really don’t mean a lot, except that they create a false sense of knowledge. Here’s an example: A house sold down the street from you for $1 million. Your house is the same build. Or is it? Well, both are a 3 bedroom, 2 storey freehold home. So, your house must be worth $1 million! Right? Well, maybe not. Your basement isn’t finished, and you only have 2 bathrooms – not 3 bathrooms. The... View Article
Looking at the condo market is a story onto it’s self! 416 prices have climbed nearly 10% year over year and supply is down 6% year over year! Prices last Spring and Autumn are looking pretty good right now, eh! I’m not going to tell you I told you so! Across the board prices are up from last year at this time and fully detached is nearly on par year over year. We are living in an incredible city and an amazing country and we are growing. This growth puts an upward pressure on prices. The other story that is pushing prices higher is construction costs but I will talk about that another day!
Awesome Regent Park! 225 Sackville (Paintbox Condo) is an excellent building built by Daniels Corp. This condo is centrally located in Regent Park. This building is super friendly and I highly recommend it! Unit 510 has an excellent 2 bedroom, 2 bathroom layout, not an inch of space is wasted. The unit is bright all day long with fantastic views of the Aquatic Centre and Park. Parking and locker were included with this sold unit! My goal is to maximize the potential of your property so you realize the top possible selling price!
The Building & Suite at 260 Sackville From Families to Single Professionals this unit and community are literally perfect for anyone interested in living the urban lifestyle without the urban price-tag. Parking and Locker are included which is a massive bonus! If you don’t need parking there’s huge demand from locals to rent for up to $200/mth! One of the few two bedroom plus den layouts in the building this space is very flexible to suite any lifestyle. Can function as a 3 bedroom if you use the den as a child’s room or a very small bedroom for an adult. The rest of the space is big and bright with windows spanning the entire width of the living/dinging space. The patio wraps around to give you full South West exposure with views of the park and rooftop deck. Currently... View Article
Let’s talk about Freehold for a moment in the 416. In my neighbourhood (Riverdale) I have noticed semi-detached prices climbing back to where they were last year at the peak of 2017. The TREB stats released today show this is the trend. Along with semi-detached, townhomes are close to being on par with last years peak. Only detached homes are 5.6% lower than the peak of 2017. Condos are king at 6.5% year over year! Stats for June and July will be interesting because this is when the 2017 market changed. Still a sellers market!
Laura is the lucky winner of my contest! Thanks to all the homeowners who entered. When you see this postcard in your mailbox, this will be your opportunity to win! I have lots of different contests; get your windows washed, get your gutters cleaned. How about free garden and landscaping advice or free grass cutting. No one wants to think about winter but I will be giving away free snow clearing for driveway and walks! There’s are lots of giveaways to make your everyday life a little easier. More contests to come! Happy Spring!
To date this year, every property in downtown Toronto I’ve had the pleasure of dealing with has had multiple offers. Every condo my clients have looked at have had offer nights! Condos in the downtown core are hot but how hot? Well, in my opinion very hot but buyers are putting some cold water on what could be an inferno. Buyers are buying with their heads and not their hearts. The other story is the detached average house price in Toronto for April was $1,354,719!
I look at the amount of condos being built in this city and the amount of people I talk to from all over the world and I know this city is going to grow for a good number of years to come. Condo sale prices have increased 7.1% over this time last year, no surprise here, a large amount of buyers fall into the $400,000-$700,000 affordability range. Also, homeowners looking for a second investment property look to invest in condos and lease them out. Detached, semi-detached and townhomes prices have fallen but things will change as the weather warms up!
