tag:blogger.com,1999:blog-35649254680962992572024-03-13T00:28:20.319-07:00Nat Smilis REALTOR®Passionate | Dedicated | Results-OrientedNat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.comBlogger232125tag:blogger.com,1999:blog-3564925468096299257.post-45190224380970675782020-12-29T17:29:00.000-08:002020-12-29T17:29:08.501-08:00■Market Watch | DECEMBER, 2020<p><b> <span style="background-color: white; color: #4472c4; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;">GTA REALTORS</span><sup style="background-color: white; box-sizing: border-box; color: #4472c4; font-family: "Century Gothic", sans-serif; text-align: justify;">®</sup><span style="background-color: white; color: #4472c4; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;"> Release
November Stats<br /><br /></span></b></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-decoration-thickness: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">The record pace of home sales in the fall continued with 8,766
sales reported in November by Greater Toronto Area REALTORS<sup style="box-sizing: border-box;">®</sup> through the Toronto Regional Real
Estate Board’s (TRREB) MLS<sup style="box-sizing: border-box;">®</sup> System.
This result was up by 24.3 per cent compared to November of last year.<o:p></o:p></span></p>
<p style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br />
Generally speaking, year-over-year growth in sales was stronger for
single-family homes in the GTA regions surrounding the City of Toronto, but
annual single-family growth rates remained robust in the ‘416’ area code as
well. “Home buyers continued to take advantage of very low borrowing costs in
November, especially those looking to buy some form of single-family home.
Competition between buyers for ground-oriented homes has been extremely strong
in many neighbourhoods throughout the GTA, which has continued to support
double-digit annual rates of price growth,” said Lisa Patel, TRREB President.<br />
<br />
The MLS<sup style="box-sizing: border-box;">®</sup> HPI Composite Benchmark
was up by 10.6 per cent in November 2020 compared to November 2019. The average
selling price for all home types combined was up by 13.3 per cent to $955,615.<br />
<br />
Market conditions tightened in many single-family market segments in November,
resulting in double-digit year-over-year increases in average selling prices
for detached houses, semi-detached houses and townhouses.<br />
<br />
In contrast to the single-family market segments, buyers continued to benefit
from much more choice in the condominium apartment market compared to last
year, particularly in the City of Toronto. The number of new condominium
apartment listings in November was almost double that reported in November of
last year. More options in the condo apartment market translated into a small
year-over-year decline in the average condominium apartment selling price in
the ‘416’ area code.<br />
<br />
“The condominium apartment market is certainly more balanced than in previous
years, with some buyers benefitting from lower selling prices compared to last
year. However, this may be somewhat of a short-term phenomenon. Once we move
into the post-COVID period, we will start to see a resumption of population
growth, both from immigration and a return of non-permanent residents. This
will lead to an increase in demand for condominium apartments in the ownership
and rental markets,” said Jason Mercer, TRREB Chief Market Analyst.<o:p></o:p></span></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-49367487044880644112020-11-30T18:45:00.002-08:002020-11-30T18:45:30.612-08:00■This Month in Real Estate | NOVEMBER, 2020<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3VntWJ50Lurw7-7_SCMcDvDJVN-KStz-6qxe0FZazYnsRoPC6Hcy-B-Gb1L9VVetnuglV1dcwC2c8qEUQtL_52nzkAkmSmnCowTXNRjRvcl8r9o0z096rRq8Ve7gGi9gL3HfsglSR1tg/s1283/NOVEMBER+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3VntWJ50Lurw7-7_SCMcDvDJVN-KStz-6qxe0FZazYnsRoPC6Hcy-B-Gb1L9VVetnuglV1dcwC2c8qEUQtL_52nzkAkmSmnCowTXNRjRvcl8r9o0z096rRq8Ve7gGi9gL3HfsglSR1tg/w502-h640/NOVEMBER+2020.jpg" width="502" /></a></div><br /> <p></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-67829535098351363262020-11-30T18:42:00.000-08:002020-11-30T18:42:05.686-08:00■Condo & Rental Market Report | Q3 2020<p><span style="background-color: white; color: #0070c0; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;"><b>TREB
Releases Q3 2020 Condo Market Statistics<br /><br /></b></span></p>
<p style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">Toronto
Regional Real Estate Board President Lisa Patel announced that third quarter
2020 condominium apartment sales reported by Greater Toronto Area REALTORS<sup style="box-sizing: border-box;">®</sup> totalled 7,072 – up 10.5 per cent
from Q3 2019. The number of new listings in Q3 2020 amounted to 17,613 – an
84.6 per cent increase over Q3 2019. Active listings at the end of Q3 were more
than double that reported the same time last year.<o:p></o:p></span></p>
<p style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br />
“The condominium apartment segment experienced the second best third quarter on
record in terms of sales and the best third quarter on record in terms of the
average selling price. However, while the pace of year-over-year condo sales
and price growth remained strong, it was lower than that reported for low-rise
home types. The condo market became much better supplied as many investors
moved to sell their units, due in part to softer rental market conditions and a
short-term rental market that was impacted by stricter regulations and the
COVID-19-related drop in tourism,” said Ms. Patel.<br />
<br />
The overall average condominium apartment selling price was up by 8.3 per cent
year-over-year in the third quarter to $633,484. The average selling price in
the City of Toronto, at $680,963, was up by a similar rate over the same
period.<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">“While
condo buyers certainly benefitted from more choice in the third quarter
compared to the past few years, there was still enough competition between
buyers to support average selling prices substantially above last year’s
levels. It is important to note that one quarter does not make a trend, either
on the demand or supply sides of the market. How the relationship unfolds
between condo sales and listings over the next three to six months will dictate
the longer-term direction for selling prices,” said Jason Mercer, TRREB’s Chief
Market Analyst.<br style="mso-special-character: line-break;" /></span></p><h1 style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br /> TRREB Releases Q3 2020 Condo Rental Market Stats<br /></span></h1><h1 style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">
<!--[endif]--><o:p></o:p></span></h1>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">Toronto Regional Real
Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS<sup style="box-sizing: border-box;">®</sup> reported 14,036 condominium
apartment rentals through TRREB’s MLS<sup style="box-sizing: border-box;">®</sup> System
during the third quarter 2020. This was an increase of 30.2 per cent over Q3
2019.<br />
<br />
The number of condominium apartments listed for rent at some point during Q3
2020 was up by 113.9 per cent compared to Q3 2019.<br />
<br />
“Demand for condo rentals was very strong in the third quarter, with a record
number of quarterly transactions reported. However, during the same period, the
number of units listed more than doubled compared to last year. Many
investor-owners took their units out of the short-term rental market, due to stricter
regulations and the COVID-19-related tourism downturn, and made them available
in the traditional rental marketplace. The result was more choice and more
negotiating power for renters,” said Ms. Patel.<br />
<br />
The average one-bedroom condominium apartment rent was down by 11.1 per cent
year-over-year in Q3 2020 to $2,012 compared to $2,262 in Q3 2019. The average
two-bedroom condominium apartment rent was down by 9.2 per cent over the same
time period to $2,672 compared to $2,941 in Q3 2019.<br />
<br />
“The demand for condo rentals remained very strong in Q3 as the economy
experienced a substantial rebound. However, this demand was overshadowed by the
very rapid rise in rental listings. Even if rental transactions remain at or
near record levels, it will take some time for the added supply to be absorbed.
Once we move into the post-COVID period, population growth from immigration and
non-permanent residents will bolster rental demand and absorption,” said Jason
Mercer, TRREB’s Chief Market Analyst.<o:p></o:p></span></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-80710659809210798742020-11-30T18:22:00.002-08:002020-11-30T18:22:23.904-08:00 ■Market Watch | NOVEMBER, 2020<p><b><span style="background-color: white; color: #0070c0; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;">GTA
REALTORS</span><sup style="background-color: white; box-sizing: border-box; color: #0070c0; font-family: "Century Gothic", sans-serif; text-align: justify;">®</sup><span style="background-color: white; color: #0070c0; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;"> Release October Stats</span></b></p>
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt; line-height: 107%;"><br />Home sales in the Greater Toronto Area (GTA) were up again
year-over-year for the fourth month in a row. Our Members made 10,563 sales as
reported through the Toronto Regional Real Estate Board’s MLS<sup style="box-sizing: border-box;">®</sup> System in October 2020. This was up
by 25.1 per cent compared to 8,445 transactions in October 2019.<br />
<br />
Sales and new listings reached record levels for the month of October. However,
year-over-year growth rates for sales and new listings diverged in some market
segments. In the detached market segment, the pace of annual sales growth far
outstripped growth in new listings. Conversely, the condominium apartment
market segment experienced more than double the new listings compared to
October 2019, whereas sales were only up by 2.2 per cent over the same period.<br />
<br />
“Competition between buyers of single-family homes, and particularly detached
houses, remained strong last month and continued to support double-digit annual
rates of price growth in many GTA neighbourhoods. In contrast, condo buyers
have benefitted from much more choice compared to last year. Pre-COVID polling
had already pointed to an increase in investor selling in 2020. The pandemic
only added to this trend with a stall in economic growth and a halt to tourism
impacting cashflows for many investors,” said Lisa Patel, TRREB’s President.<br />
<br />
The MLS<sup style="box-sizing: border-box;">®</sup> HPI Composite Benchmark
was up by 10.8 per cent on a year-over-year basis in October 2020. The average
selling price for all home types combined was $968,318 – up by 13.7 per cent
compared to $851,877 in October 2019.<br />
<br />
“Year-to-date home sales through October were above last year’s level. The
economic recovery in some sectors coupled with low borrowing costs has kept
home purchases top-of-mind for many GTA residents. With this being said, we
have not accounted for all of the pent-up demand that resulted from the spring
downturn. Expect record or near-record home sales for the remainder of 2020,”
said Jason Mercer, TRREB’s Chief Market Analyst.</span>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-20252072580415952972020-10-09T13:00:00.007-07:002020-10-09T13:00:55.168-07:00■This Month in Real Estate | OCTOBER, 2020<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFnvv9Qyss_XJ2Y2epIf9CF3GPc__Afcagoboy4C0wBrhPDJ-OaJzZsiIrYeoQopIFAT12QedvClhThJ2iVOLg3wmbaq1rpxgf0ET-m0KtlaF5cGdygmUIa-rqyNwn4byzQaK0Wp7fw18/s1283/OCTOBER+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFnvv9Qyss_XJ2Y2epIf9CF3GPc__Afcagoboy4C0wBrhPDJ-OaJzZsiIrYeoQopIFAT12QedvClhThJ2iVOLg3wmbaq1rpxgf0ET-m0KtlaF5cGdygmUIa-rqyNwn4byzQaK0Wp7fw18/w502-h640/OCTOBER+2020.jpg" width="502" /></a></div><br /><p><br /></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-1661461061099633902020-10-09T12:36:00.000-07:002020-10-09T12:36:04.374-07:00■Market Watch | OCTOBER, 2020<h1 style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt; text-align: justify; text-justify: inter-ideograph;"><span style="color: #4472c4; font-family: "Century Gothic",sans-serif; font-size: 11.0pt; mso-themecolor: accent5;">GTA REALTORS<sup style="box-sizing: border-box;">®</sup> Release
September Stats<o:p></o:p></span></h1><p style="background: white; box-sizing: border-box; margin: 0cm 0cm 7.5pt;"><span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;">Toronto Regional Real
Estate Board President Lisa Patel announced that sales reported through TRREB’s
MLS<sup style="box-sizing: border-box;">®</sup> System by Greater Toronto
Area REALTORS<sup style="box-sizing: border-box;">®</sup> amounted to
11,083 – a new record for the month of September. This result was up by 42.3
per cent compared to September 2019. Following a record third quarter, sales
through the first nine months of 2020 were up by approximately one per cent
compared to the same period in 2019.<br />
<br />
“Improving economic conditions and extremely low borrowing costs sustained
record-level sales in September, as we continued to account for the substantial
amount of pent-up demand that resulted from the spring downturn. Further improvements
in the economy, including job growth, would support strong home sales moving
forward. However, it will be important to monitor the trajectory of COVID-19
cases, the related government policy response, and the impact on jobs and
consumer confidence,” said Ms. Patel.<o:p></o:p></span></p><p style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><br />
Year-over-year sales growth in September continued to be driven by
ground-oriented market segments, including detached and semi-detached houses
and townhouses. Annual growth rates were also higher for sales reported in the
GTA regions surrounding the City of Toronto.<o:p></o:p></span></p><p>
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt; line-height: 107%;"><br />
The September 2020 MLS<sup style="box-sizing: border-box;">®</sup> Home
Price Index Composite Benchmark was up by 11.6 per cent year-over-year. The
average selling price for all home types combined in September was $960,772 –
up by 14 per cent year-over-year. Price growth was driven by the low-rise
market segments. The relatively better supplied condominium apartment segment
experienced a comparatively slower pace of price growth.<br />
<br />
“On a GTA-wide basis, market conditions tightened in September relative to last
year, with sales increasing at a faster pace than new listings. With
competition between buyers increasing noticeably, double-digit year-over-year
price growth was commonplace throughout the region in September, resulting in
the overall average selling price reaching a new record,” said Jason Mercer,
TRREB’s Chief Market Analyst.</span></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-39013589319159438662020-09-28T13:24:00.000-07:002020-09-28T13:24:10.995-07:00■This Month in Real Estate | SEPTEMBER, 2020<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCAuYQHYqVO1yMaa9qHPFDMVimGsR7Jca2Bz1JMo9hAa-9RCQrZifeKi18VAeaxacbO3-IV8HQxL8HnZplRkaKAkqAydbCEWW69Go8rlPG3njgQuriA886wOERFrbIrA9ibLNltEg7Rlk/s1283/SEPTEMBER+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCAuYQHYqVO1yMaa9qHPFDMVimGsR7Jca2Bz1JMo9hAa-9RCQrZifeKi18VAeaxacbO3-IV8HQxL8HnZplRkaKAkqAydbCEWW69Go8rlPG3njgQuriA886wOERFrbIrA9ibLNltEg7Rlk/w502-h640/SEPTEMBER+2020.jpg" width="502" /></a></div><br /> <p></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-44237627843499238752020-09-28T13:13:00.007-07:002020-09-28T13:24:49.296-07:00■Market Watch | SEPTEMBER, 2020<p><b><span style="background-color: white; color: #0070c0; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;">GTA
REALTORS</span><sup style="background-color: white; box-sizing: border-box; color: #0070c0; font-family: "Century Gothic", sans-serif; text-align: justify;">®</sup><span style="background-color: white; color: #0070c0; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;"> Release August Stats</span></b></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">Toronto Regional Real
Estate Board (TRREB) President Lisa Patel announced that the strong rebound in
Greater Toronto Area (GTA) home sales continued with a record result for the
month of August. GTA REALTORS<sup style="box-sizing: border-box;">®</sup> reported
10,775 residential sales through TRREB’s MLS<sup style="box-sizing: border-box;">®</sup> System
in August 2020 – up by 40.3 per cent compared to August 2019.<br />
<br />
Sales were up on a year-over-year basis for all major home types, both in the
City of Toronto and surrounding GTA regions. It should be noted that the
low-rise market segments, including detached and semi-detached houses and
townhouses, were the drivers of sales growth. Condominium apartment sales were
up on an annual basis for the second straight month but to a lesser degree.<br />
<br />
“Increased demand for ownership housing has been based on improving economic
conditions, in terms of monthly GDP growth and job creation, and the
continuation of very low borrowing costs. In addition, fewer households have
chosen to go on vacation as a result of COVID-19 and instead have remained in
the GTA and been active in the housing market, satisfying pent-up demand from
the spring,” said Ms. Patel.<br />
<br />
Both the number of new listings entered into TRREB’s MLS<sup style="box-sizing: border-box;">®</sup> System
during the month and the number of active listings at the end of the August
2020 were up on a year-over-year basis. While new listings were up strongly for
all home types, growth in new condominium apartment listings far outstripped
growth in the other market segments.<br />
<br />
“Generally speaking, market conditions remained very tight in the GTA resale
market in August. Competition between buyers was especially strong for low-rise
home types, leading to robust annual rates of price growth. However, with
growth in condominium apartment listings well-outstripping condo sales growth,
condo market conditions were comparatively more balanced, which was reflected
in a slower pace of price growth in that segment,” said Jason Mercer, TRREB’s
Chief Market Analyst.<br />
<br />
The MLS<sup style="box-sizing: border-box;">®</sup> Home Price Index
Composite Benchmark was up by 11.1 per cent in August 2020 compared to August
2019. Over the same period, the overall average selling price was up by 20.1
per cent to $951,404. Annual detached and semi-detached sales growth was
stronger in the comparatively more-expensive City of Toronto compared to the
surrounding GTA regions, which helps explain why growth in the overall average
selling price outstripped growth in the MLS<sup style="box-sizing: border-box;">®</sup> HPI
Composite Benchmark.<o:p></o:p></span></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-15631280422238579292020-08-16T10:23:00.000-07:002020-08-16T10:23:09.211-07:00■Condo & Rental Market Report | Q2 2020<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="width: 71%px;"><tbody><tr><td style="padding: 0cm 0cm 0cm 0cm; width: 100.0%;" width="100%"><p class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;"><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Q2 2020 Condo Market Report</span></b></p><p class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Century Gothic",sans-serif;">TORONTO, ONTARIO, July 31,
2020 –Toronto Regional Real Estate Board President Lisa Patel announced that
second quarter 2020 condominium apartment sales amounted to 3,459 – down 50.8
per cent compared to 7,024 sales in Q2 2019. The number of new condominium
apartment listings amounted to 8,717 in Q2 2020 – down 21.6 per cent compared
to 11,114 new listings entered in Q2 2019. “The condominium apartment market
experienced a dip in sales and new listings in the second quarter of 2020, as
many potential buyers moved to the sidelines as a result of public health
measures taken to combat COVID-19 and the resulting economic downturn. With
the overall housing market trending toward recovery in June, condo apartment
sales will likely improve in the third quarter,” said Ms. Patel. Despite
market conditions becoming more balanced in Q2 2020, the average selling
price for condo apartments was up 5.1 per cent compared to Q2 2019 to
$619,707. “It will be important to watch the relationship between condominium
apartment sales and new listings as we move through the second half of 2020.
If economic recovery is sustained, the demand for condo apartments will
improve. However, the prospect of stricter regulations on short-term rentals
and softer rental market conditions could fuel increased listings of
investor-held units. If we see more balanced market conditions, condo price
growth could be more moderate compared to low-rise home types,” said Jason
Mercer, TRREB’s Chief Market Analyst.<br /></span><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";"><br /><br /><o:p></o:p></span></b></p><p class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;"><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial;">Q2 2020 Rental Market Report</span></b></p><p class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Century Gothic",sans-serif;">TORONTO, ONTARIO, July 31,
2020 – Toronto Regional Real Estate Board President Lisa Patel announced that
Greater Toronto Area REALTORS® reported 7,320 condominium apartment rentals
through TRREB’s MLS® System in the second quarter of 2020. This result was
down by 24.8 per cent compared to the second quarter of 2019. The number of
condominium apartments listed for rent at some point during Q2 2020 was up by
42 per cent compared to Q2 2019. “There are two key take-aways from the Q2
2020 rental market statistics. First, COVID-19 clearly impacted the demand
for rental condominium apartments, due to restrictions on showing units and
job losses across many sectors of the economy. Second, we saw the
continuation of the pattern experienced over the past year, with year-over-year
growth in rental listings far outstripping growth in rental transactions,
resulting in a much bettersupplied market and a moderating pace of rent
growth,” said TRREB President Lisa Patel. The average one-bedroom condominium
apartment rent was $2,083 in Q2 2020 – down five per cent from Q2 2019. The
average two-bedroom condominium apartment rent was $2,713, representing a 5.6
per cent decline from Q2 2019. “Following very tight market conditions in
2018, we have seen a consistent trend toward balance in the GTA condominium
apartment rental market over the past year-and-a-half. Accelerating growth in
rental listings were at the root of this trend, but the COVID-19- related
drop-off in rental transactions had a marked impact as well. Increased choice
led to more negotiating power for renters, resulting in year-over-year
declines in average rents in the second quarter of 2020,” said Jason Mercer,
TRREB’s Chief Market Analyst.</span><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></b></p><p class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;"><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";"><br /></span></b><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial;">Q1 2020 Rental Market Report</span></b></p><p class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;"><span style="font-family: "Century Gothic",sans-serif;">TRREB Releases Q1 2020 Condo
Rental Market Stats Greater Toronto Area REALTOS® reported 7,192 condominium
apartment rentals through TREB’s MLS® System in the first quarter of 2020.
This result was up by 8.6 percent compared to the first quarter of 2019. The
number of condominium apartments listed for rent at some point during Q1 2020
was up by 31.9% compared to Q1 2019. With the number of condominium
apartments listed increasing on a year-over-year basis by a greater rate than
rental transactions, the year-over-year pace of average rent growth has
moderated. The average one-bedroom condominium apartment rent was $2,187 in
Q1 2020, up 2.1 per cent from Q1 2019. The average two-bedroom condominium
apartment rent was $2,811, in line with the Q1 2019 result.</span><b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial;"><br /><br /><br /></span></b><span style="color: #330033; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><o:p></o:p></span></p></td></tr></tbody></table>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-43157152932452943932020-08-16T10:09:00.003-07:002020-08-16T10:09:53.084-07:00■This Month in Real Estate | AUGUST, 2020<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJgz2LIvuHI-NwWro8GdneSycrQNGClCSPiLhDWX-d8Ti0boKzR1AmmJDIwpRxYgjAgINpJi5KxyC2x9wx8n5mBtgDSrq7neUUfto4WQbdX69KpGonuJDTs08p0ZabMrj-E3GQMbuhnv8/s1283/AUGUST+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJgz2LIvuHI-NwWro8GdneSycrQNGClCSPiLhDWX-d8Ti0boKzR1AmmJDIwpRxYgjAgINpJi5KxyC2x9wx8n5mBtgDSrq7neUUfto4WQbdX69KpGonuJDTs08p0ZabMrj-E3GQMbuhnv8/w503-h640/AUGUST+2020.jpg" width="503" /></a></div><p></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-66209970402136918092020-08-16T09:48:00.006-07:002020-08-16T09:48:58.070-07:00■Market Watch | August, 2020<p><b><span style="background-color: white; color: #272c37; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;">GTA
REALTORS</span><sup style="background-color: white; box-sizing: border-box; color: #272c37; font-family: "Century Gothic", sans-serif; text-align: justify;">®</sup><span style="background-color: white; color: #272c37; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;"> Release July 2020
Stats<br /><br /></span></b></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">Toronto Regional Real
Estate Board President Lisa Patel announces that Greater Toronto Area REALTORS<sup style="box-sizing: border-box;">®</sup> reported 11,081 sales through
TRREB’s MLS<sup style="box-sizing: border-box;">®</sup> System in July 2020
– a 29.5 per cent increase over July 2019 and a new record for the month of
July. On a preliminary seasonally adjusted basis, sales were up by 49.5 per
cent compared to June 2020.<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">Year-over-year sales
growth was driven by low-rise home types, particularly in the regions
surrounding the City of Toronto. However, condominium apartment sales were also
up on an annual basis, including in Toronto. Total new listings were also up
strongly on a year-over-year basis by 24.7 per cent, but this annual growth
rate was less than that of sales, which means market conditions tightened on
average compared to July 2019. In addition, active listings at the end of July
were down by 16.3 per cent.<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">“Sales activity was
extremely strong for the first full month of summer. Normally we would see
sales dip in July relative to June as more households take vacation, especially
with children out of school. This year, however, was different with pent-up
demand from the COVID-19-related lull in April and May being satisfied in the
summer, as economic recovery takes firmer hold, including the Stage 3
re-opening. In addition, fewer people are travelling, which has likely
translated into more transactions and listings,” said Ms. Patel.<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">The July 2020 MLS<sup style="box-sizing: border-box;">®</sup> Home Price Index (HPI) Composite
Benchmark was up by 10 per cent compared to July 2019. The overall average
selling price was up by 16.9 per cent year-over-year to $943,710. On a
preliminary seasonally adjusted basis, the average selling price was up by 5.5
per cent compared to June 2020.<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">Price growth was strongest
for low-rise home types, notably within the City of Toronto. Despite more
balanced market conditions in the condominium apartment market segment,
year-over-year price growth remained in the high single digits.<br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></p>
<p style="-webkit-text-stroke-width: 0px; background: white; box-sizing: border-box; font-variant-caps: normal; font-variant-ligatures: normal; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; orphans: 2; text-align: justify; text-align: start; text-decoration-color: initial; text-decoration-style: initial; text-justify: inter-ideograph; widows: 2; word-spacing: 0px;"><span style="color: black; font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">“Competition between
buyers continued to increase in many segments of the GTA ownership housing
market in July, which fueled a further acceleration in year-over-year price
growth in July compared to June. On top of this, we also experienced stronger
sales growth in the more-expensive detached market segment, which helps explain
why annual growth in the overall average selling price was stronger than growth
for the MLS<sup style="box-sizing: border-box;">®</sup> HPI Composite
benchmark,” said Jason Mercer, TRREB’s Chief Market Analyst.</span><span style="color: black; font-family: "Cabin",serif; font-size: 11.5pt;"><o:p></o:p></span></p>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-90634679856770969582020-07-28T13:38:00.002-07:002020-07-28T13:38:37.474-07:00■This Month in Real Estate | JULY, 2020<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV5q_hfS7ogSfuFyUh0DVI0daxUbok0wAv6SQ_McO2GVT8dmQMrVWD6sApFonaastz3JzC-8FfdNWGG7mnpESPe0zG5d9J9YxZ-TLdZwl1o4LVxtqpCmHoDIf6RO7Wi7JMbw2pJ15WlYU/s1600/JULY+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgV5q_hfS7ogSfuFyUh0DVI0daxUbok0wAv6SQ_McO2GVT8dmQMrVWD6sApFonaastz3JzC-8FfdNWGG7mnpESPe0zG5d9J9YxZ-TLdZwl1o4LVxtqpCmHoDIf6RO7Wi7JMbw2pJ15WlYU/s640/JULY+2020.jpg" width="502" /></a></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-35617348837913087332020-07-09T12:03:00.001-07:002020-07-09T12:03:26.025-07:00■Market Watch | July, 2020<h1 style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt;">
<span lang="EN-CA" style="color: #272c37; font-size: 11pt;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">GTA REALTORS<sup style="box-sizing: border-box;">®</sup> Release
June 2020 Stats<o:p></o:p></span></span></h1>
<div style="background: white; box-sizing: border-box; margin: 0cm 0cm 7.5pt; text-align: justify;">
<span lang="EN-CA" style="font-size: 11pt;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;">Toronto
Regional Real Estate Board President Lisa Patel announced that Greater Toronto
Area REALTORS<sup style="box-sizing: border-box;">®</sup> reported 8,701
sales through TRREB’s MLS<sup style="box-sizing: border-box;">®</sup> System
in June 2020. This result represented a very substantial increase over the May
2020 sales result, both on an actual (+89 per cent) and seasonally adjusted
basis (+84 per cent), and was only down by 1.4 per cent compared to June 2019.<o:p></o:p></span></span></div>
<div style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-CA" style="font-size: 11pt;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br />
Year-over-year growth in sales was reported in some areas and market segments.
Especially notable were the detached and townhouse market segments in the GTA
regions surrounding the City of Toronto. New listings were up slightly on a
year-over-year basis by 2.1 per cent. However, active listings on TRREB’s MLS<sup style="box-sizing: border-box;">®</sup> System at the end of June 2020 were
down by 28.8 per cent compared to June 2019. Growth in new listings will need
to outstrip growth in sales for a number of months before active listings
approach last year’s levels.<o:p></o:p></span></span></div>
<div style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 0cm; text-align: justify; text-justify: inter-ideograph;">
<span lang="EN-CA" style="font-size: 11pt;"><span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br />
The MLS<sup style="box-sizing: border-box;">®</sup> Home Price Index
Composite Benchmark was up by 8.2 per cent year-over-year in June. The average
selling price for all home types combined was $930,869 – up by 11.9 per cent
compared to June 2019. The actual and seasonally-adjusted average selling price
was also up substantially compared to May 2020, by 7.8 per cent and 9.8 per
cent respectively.<o:p></o:p></span></span></div>
<span lang="EN-CA" style="line-height: 107%;"><div style="text-align: justify;">
<span style="font-family: "Helvetica Neue", Arial, Helvetica, sans-serif; font-size: 14.6667px;"><br /></span></div>
<span style="font-family: Helvetica Neue, Arial, Helvetica, sans-serif; font-size: 11pt;"><div style="text-align: justify;">
<span style="font-size: 11pt;">Average and benchmark selling prices were up year-over-year for all major home
types. The strongest average annual rates of price growth were experienced in
the detached and semi-detached market segments in the City of Toronto at 14.3
per cent and 22 per cent respectively. This, coupled with the fact that average
selling price growth outstripped growth in the MLS</span><sup style="box-sizing: border-box;">®</sup><span style="font-size: 11pt;"> HPI
benchmarks, points to a resurgence in the higher-end market segments.</span></div>
</span></span>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-1811107773102069742020-06-21T11:19:00.002-07:002020-06-21T11:19:43.578-07:00■This Month in Real Estate | JUNE, 2020<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNavXToRlLjH_1qObIx9DKmTs5LcltRAu7cK8aqwWLepyUsate747PL0X59OGId17-GFE9jcxMdEwEfxbmQMDE6WBC4tFwXuP56UST5gVAfHMWCAfq53to2e1Xq15kjECGX_DCXQRYQQQ/s1600/JUNE+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNavXToRlLjH_1qObIx9DKmTs5LcltRAu7cK8aqwWLepyUsate747PL0X59OGId17-GFE9jcxMdEwEfxbmQMDE6WBC4tFwXuP56UST5gVAfHMWCAfq53to2e1Xq15kjECGX_DCXQRYQQQ/s640/JUNE+2020.jpg" width="502" /></a></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-42667667096799518252020-06-10T11:07:00.004-07:002020-06-10T11:07:53.047-07:00■Market Watch | June, 2020<h1 style="background: white; margin-bottom: 7.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 15.0pt;">
<span style="color: #272c37; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;">GTA REALTORS</span><sup style="color: #272c37; font-family: "Century Gothic", sans-serif; text-align: justify;"><span style="font-size: xx-small;">®</span></sup><span style="color: #272c37; font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;"> Release May 2020 Stats</span></h1>
<span style="line-height: 107%;"></span><br />
<div style="font-family: "Century Gothic", sans-serif; font-size: 11pt; text-align: justify;">
<span style="font-size: 11pt;">Toronto Regional Real Estate Board President Michael Collins announced
that Greater Toronto Area REALTORS</span><sup>®</sup><span style="font-size: 11pt;"> reported 4,606 sales
through TRREB’s MLS</span><sup>®</sup><span style="font-size: 11pt;"> System in May 2020. This result was down
by 53.7 per cent compared to May 2019. While the number of sales was down
substantially on a year-over-year basis due to the continued impact of
COVID-19, the decline was less than the 67.1 per cent year-over-year decline
reported for April 2020.</span></div>
<div style="text-align: justify;">
<span style="font-family: "Century Gothic", sans-serif; font-size: 14.6667px;"><br /></span></div>
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><div style="text-align: justify;">
<span style="font-size: 11pt;">On a month-over-month basis, actual and seasonally adjusted May sales were up
substantially compared to April. Actual May 2020 sales increased by 55.2 per
cent compared to April 2020. After accounting for the regular seasonal increase
that is experienced each year between April and May, seasonally adjusted sales
were up by 53.2 per cent month-over-month.</span></div>
</span><div style="text-align: justify;">
<br /></div>
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><div style="text-align: justify;">
<span style="font-size: 11pt;">The number of new listings entered into TRREB’s MLS</span><sup style="font-size: 11pt;">®</sup><span style="font-size: 11pt;"> System in
May was down by a similar annual rate to that of sales, dipping by 53.1 per
cent to 9,104. On a month-over-month basis, actual new listings were up by 47.5
per cent.</span></div>
</span><div style="text-align: justify;">
<br /></div>
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><div style="text-align: justify;">
<span style="font-size: 11pt;">The MLS</span><sup style="font-size: 11pt;">®</sup><span style="font-size: 11pt;"> Home Price Index Composite Benchmark price was
virtually unchanged in May 2020 compared to April 2020. On a year-over-year
basis, the composite benchmark was up by 9.4 per cent. The average selling
price for all home types combined was up by three per cent compared to May 2019
to $863,599. On a seasonally adjusted basis, the average selling price was up
by 4.6 per cent month-over-month compared April 2020.</span></div>
</span><div style="text-align: justify;">
<br /></div>
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><div style="text-align: justify;">
<span style="font-size: 11pt;">The difference in year-over-year growth between the MLS</span><sup style="font-size: 11pt;">®</sup><span style="font-size: 11pt;"> HPI
Composite Benchmark and the average selling price was related to the fact that
home sales in the City of Toronto, particularly in the detached segment, were
down by a greater annual rate than overall sales in the GTA. This resulted in a
compositional impact on the overall average selling price.</span></div>
</span>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-4478793115435888662020-05-08T12:30:00.003-07:002020-05-08T12:30:17.731-07:00■This Month in Real Estate | MAY, 2020<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihl2xCr0336FdpbUI8hh-ra4IqjITRuCJHxvPWeNIafEXoPz6qNmNfqbU3DsJZ0z4T3fZIv4fwn5fIk1ou6y-atThgdgU7IiYUUZDXA2URHQ2SJ2AjaT1B-0mMrLB1Hz6eIMl5e9ajSQ4/s1600/MAY+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihl2xCr0336FdpbUI8hh-ra4IqjITRuCJHxvPWeNIafEXoPz6qNmNfqbU3DsJZ0z4T3fZIv4fwn5fIk1ou6y-atThgdgU7IiYUUZDXA2URHQ2SJ2AjaT1B-0mMrLB1Hz6eIMl5e9ajSQ4/s640/MAY+2020.jpg" width="502" /></a></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-56120017563163975362020-05-08T12:16:00.000-07:002020-05-08T12:16:21.776-07:00■Market Watch | May, 2020<div style="text-align: justify; text-justify: inter-ideograph;">
<b><span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">GTA
REALTORS® RELEASE APRIL 2020 STATS</span></b></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">TORONTO,
ONTARIO, May 5, 2020 – Toronto Regional Real Estate Board President Michael
Collins released the following key housing market statistics for April 2020:</span><span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt; mso-bidi-font-family: Arial;"><o:p></o:p></span></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<b><span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br />Home
Sales and Listings<br /><br /><o:p></o:p></span></b></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">• Greater
Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s
MLS® System. This result was down by 67 per cent compared to April 2019.
Weekday sales remained within a relatively steady range during the month,
averaging 130 per day.<br />
• New listings amounted to 6,174 in April 2020 – down on a year-over-year basis
by a similar rate compared to sales (-64.1 per cent).<br /><br /><br />
<b>Home Prices</b><o:p></o:p></span></div>
<br />
<div style="text-align: justify;">
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;">• The
average selling price for April 2020 transactions was $821,392 – up by 0.1 per
cent compared to the average price of $820,373 reported for April 2019. The
semi-detached and townhouse market segments experienced annual average price
growth above the rate of inflation. The condominium apartment and detached
segments experienced year-over-year price declines on average.</span></div>
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-CA; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "MS Mincho"; mso-fareast-language: JA; mso-fareast-theme-font: minor-fareast;"><div style="text-align: justify;">
<span style="font-size: 11pt;">• The trend for the MLS® Home Price Index Composite Benchmark, which had been
on an upward trajectory since the beginning of 2019 flattened in April. On a
year-over-year basis, the Benchmark was up by 10 per cent.</span></div>
<div style="text-align: justify;">
<span style="font-size: 11pt;">• The MLS® HPI indices represent prices for typical homes with consistent
attributes from one period to the next. The fact that the MLS® HPI was up
year-over-year by a greater rate than the average selling price suggests that
the share of higher end deals completed in April 2020 versus April 2019 was
down.</span></div>
</span>Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-70378831618570529282020-04-23T13:12:00.000-07:002020-04-23T13:12:09.145-07:00■This Month in Real Estate | APRIL, 2020<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglS8Pw2JINqUVKPxsOl-IoQSWnRbD09zXlvk7EExYPCLz70X5mAW3Ev7brN8HQCPQQGY5cFOLAQoQZG0FKNsjThKhU_j1CW4TaAT_6vAZDjZj7CPFc5Gg1YMKdCZ5ppxAcsRSEsrj_Ia8/s1600/APRIL+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEglS8Pw2JINqUVKPxsOl-IoQSWnRbD09zXlvk7EExYPCLz70X5mAW3Ev7brN8HQCPQQGY5cFOLAQoQZG0FKNsjThKhU_j1CW4TaAT_6vAZDjZj7CPFc5Gg1YMKdCZ5ppxAcsRSEsrj_Ia8/s640/APRIL+2020.jpg" width="502" /></a></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-82144897268395264002020-04-22T12:40:00.002-07:002020-04-22T12:40:52.248-07:00■Market Watch | April, 2020<br />
<div style="text-align: justify; text-justify: inter-ideograph;">
<b><span style="color: #4472c4; font-family: "Century Gothic",sans-serif; font-size: 11.0pt; mso-themecolor: accent5;">GTA REALTORS® RELEASE MARCH STATS</span></b></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br />
April 3, 2020 – Toronto Regional Real Estate Board President Michael Collins
announced that Greater Toronto Area REALTORS® reported 8,012 home sales through
TRREB’s MLS® System in March 2020 – up by 12.3 per cent compared to 7,132 sales
reported in March 2019.<o:p></o:p></span></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br />
However, despite a strong increase in sales for March 2020 as a whole, there
was a clear break in market activity between the pre-COVID-19 and post-COVID-19
periods. For the purposes of this release, the start of the post-COVID-19
period was the week beginning Sunday, March 15. <o:p></o:p></span></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br />
• The overall March sales result was clearly driven by the first two weeks of
the month. There were 4,643 sales reported in the pre-COVID-19 period,
accounting for 58 per cent of total transactions and representing a 49 per cent
increase compared to the first 14 days of March 2019.<br />
<br />
• There were 3,369 sales reported during the post-COVID-period – down by 15.9
per cent compared to the same period in March 2019.<br />
<br />
For March as a whole, new listings were up by three per cent year-over-year to
14,424. However, similar to sales, new listings dropped on a year-over-year
basis during the second half of the month (beginning March 15) by 18.4 per
cent.<br />
<br />
The MLS® Home Price Index Composite Benchmark price was up by 11.1 per cent
year-over-year in March 2020. The average selling price for March 2020 as a
whole was $902,680 – up 14.5 per cent compared to March 2019. The average
selling price for sales reported between March 15 and March 31, was $862,563 –
down from the first half of March 2020, but still up by 10.5 per cent compared
to the same period last year.<o:p></o:p></span></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-53222261139951998872020-03-25T11:00:00.000-07:002020-03-25T11:00:38.379-07:00■This Month in Real Estate | MARCH, 2020<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCYfOKw3cKOsgLH3FEzZOFRVtCCRktRjIDb94dqNlUbglDLHE_1bTbT48_tWfQg742DyJIMO2j4KxqU5qOf8Ghj8Kk_3tfWfxLke9k32U6JilzGJkSWupFYwpmWFCWK2lGKYEgClVUjd8/s1600/MARCH+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCYfOKw3cKOsgLH3FEzZOFRVtCCRktRjIDb94dqNlUbglDLHE_1bTbT48_tWfQg742DyJIMO2j4KxqU5qOf8Ghj8Kk_3tfWfxLke9k32U6JilzGJkSWupFYwpmWFCWK2lGKYEgClVUjd8/s640/MARCH+2020.jpg" width="502" /></a></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-56933486507183659282020-03-25T10:49:00.002-07:002020-03-25T10:49:38.690-07:00■Market Watch | March, 2020<div style="text-align: justify; text-justify: inter-ideograph;">
<b><span style="color: #4472c4; font-family: "Century Gothic",sans-serif; font-size: 11.0pt; mso-themecolor: accent5;">GTA REALTORS® RELEASE FEBRUARY STATS<o:p></o:p></span></b></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><br /><o:p></o:p></span></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt; line-height: 107%; mso-ansi-language: EN-CA; mso-bidi-font-family: "Times New Roman"; mso-bidi-language: AR-SA; mso-bidi-theme-font: minor-bidi; mso-fareast-font-family: "MS Mincho"; mso-fareast-language: JA; mso-fareast-theme-font: minor-fareast;">TORONTO, MARCH 4, 2020 – In line with the forecast contained in the
Toronto Regional Real Estate Board’s recently released Market Year in Review
and Outlook Report, TRREB President Michael Collins announced a very strong
year-over-year sales and price growth in February 2020. <br />
<br />
Greater Toronto Area REALTORS® reported 7,256 residential transactions through
TRREB’s MLS® System in February 2020, representing a 45.6 per cent increase
compared to a 10-year sales low in February 2019. However, February 2020 sales
were still below the 2017 record result. Year-over-year sales growth, for the
GTA as a whole, was strongest for ground-oriented home types.<br />
<br />
After preliminary seasonal adjustment, February 2020 sales also exhibited
positive momentum, up by 14.8 per cent compared to January 2020.<br />
<br />
New listings amounted to 10,613 in February 2020, a 7.9 per cent increase
compared to February 2019. This moderate annual growth rate was much smaller
than that reported for sales, which means market conditions tightened considerably
over the past year.<br />
<br />
As market conditions tightened over the past year, competition between buyers
has clearly increased. This resulted in a further acceleration in
year-over-year price growth in February. The MLS® Home Price Index Composite
Benchmark was up by 10.2 per cent. The average selling price for all home types
combined was up by 16.7 per cent to $910,290. Double-digit average price growth
was experienced for most major market segments, including detached houses and
condominium apartments.</span></div>
Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-50323310198077160462020-02-29T08:12:00.001-08:002020-02-29T08:12:52.088-08:00■This Month in Real Estate | FEBRUARY, 2020<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikVtzLCj2SFll-rvRpEyFv8QJYW1n4t-sAhQ3CPj_TmLAjsBfhgX_m0R2RHAVrwNO2aciGYgJaAEt2FFZ16YRI2tkttV5s5tz4EZkyRkEBAowoclsvVbEtF9BDBVYZBW_xWNeMrRWCeoM/s1600/FEBRUARY+2020.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1283" data-original-width="1008" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikVtzLCj2SFll-rvRpEyFv8QJYW1n4t-sAhQ3CPj_TmLAjsBfhgX_m0R2RHAVrwNO2aciGYgJaAEt2FFZ16YRI2tkttV5s5tz4EZkyRkEBAowoclsvVbEtF9BDBVYZBW_xWNeMrRWCeoM/s640/FEBRUARY+2020.jpg" width="502" /></a></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-27963262186478729302020-02-29T07:45:00.003-08:002020-02-29T07:45:48.329-08:00■Condo & Rental Market Report | Q4 2019<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="background-color: transparent; width: 71%px;"></table>
<br />
<div class="MsoNormal" style="line-height: 12.0pt; margin-bottom: .0001pt; margin-bottom: 0cm; text-align: justify; text-justify: inter-ideograph;">
<b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; mso-bidi-font-family: Arial; mso-fareast-font-family: "Times New Roman";">Condo Market Report</span></b></div>
<table border="0" cellpadding="0" cellspacing="0" class="MsoNormalTable" style="width: 71%px;"></table>
<br />
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">TREB Releases
Q4 2019 Condo Market Statistics TORONTO, January 15, 2019- Toronto Real Estate
Board President Michael Collins announced that Greater Toronto Area REALTORS®
reported 5,367 condominium apartment sales through TREB’s MLS® System in the
fourth quarter of 2019. This result was up by 3.8 per cent compared to the
fourth quarter of 2018. <br />
<br />
New condominium apartment listings were down substantially by 11.9 per cent on
a year-over-year basis when comparing to Q4 2018. This suggests that condo
market conditions tightened further over the past year.<br />
<br />
“The condominium apartment market segment continued to perform well in 2019,
with strong growth in sales and average price. Condominium apartments provide a
relatively affordable entry point into the home ownership market for first-time
buyers, who account for a substantial portion of demand each year,” said Mr.
Collins.<br />
<br />
The average price of a condominium apartment increased by 10.4 per cent from
$558,733 in Q4 2018 to $616,591 in Q4 2019. Year-over-year price growth in the
City of Toronto, which accounted for 71 per cent of transactions, was similar
to the GTA as whole, at 10.3 per cent, resulting in an average price of
$660,379.<br />
<br />
“Tighter market conditions in the GTA condo market translated into increased
competition between buyers and an accelerated pace of price growth. TREB
continues to urge policy makers to develop strategies to bring more ownership
and rental supply online, so that balanced market conditions and a moderate
pace of price growth can be sustained over the long term,” said Jason Mercer,
TREB’s Chief Market Analyst.<o:p></o:p></span></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<b><span style="color: #0070c0; font-family: "Century Gothic",sans-serif; font-size: 11.0pt; mso-bidi-font-family: Arial;"><br />
Rental Market Report<br /><br /></span></b><span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;"><o:p></o:p></span></div>
<div style="text-align: justify; text-justify: inter-ideograph;">
<span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt;">TREB Releases
Q4 2019 Condo Rental Market Stats TORONTO, January 15, 2019- Toronto Real
Estate Board President Michael Collins announced that Greater Toronto Area
REALTORS® reported 6,758 condominium apartment rentals through TREB’s MLS®
System in the fourth quarter of 2019. This result was up by 11.8 per cent
compared to the fourth quarter of 2018.<br />
<br />
The number of condominium apartments listed for rent at some point during Q4
2019 was up by 35.6 per cent compared to Q4 2018.<br />
<br />
“Strong job growth across a number of different sectors coupled with the GTA’s
renowned cultural diversity continued to fuel robust population growth in 2019.
Obviously, all of these people needed a place to live, with many initially
pointed to the rental market. This obviously underpinned the growth in
condominium apartment rental transactions,” said TREB President Michael
Collins.<br />
<br />
Average condominium apartment rents were up on a year-over-year basis for
one-bedroom and two-bedroom units. The average one-bedroom condominium
apartment rent was $2,209 in Q4 2019 – up 3.1 per cent compared to Q4 2018. The
average two-bedroom condominium apartment rent was up by 3.4 per cent over the
same period to $2,868.<br />
<br />
“The condominium apartment rental market became progressively better supplied
throughout 2019, as annual growth the number of units listed for rent
outstripped growth in rental transactions. The increase in units listed was
likely due, at least in part, to condominium apartment investor-owners listing
their units for rent in response to extremely strong average rent growth in
2018 and 2019. This resulted in average rent growth moderating closer to the
rate of inflation,” said Jason Mercer, TREB’s Chief Market Analyst.</span><span style="font-family: "Century Gothic",sans-serif; font-size: 11.0pt; mso-bidi-font-family: Arial;"><o:p></o:p></span></div>
<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-23992905966765771372020-02-11T09:30:00.001-08:002020-02-11T09:30:18.547-08:00■Market Watch | February, 2020<div style="text-align: justify;">
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><b>GTA REALTORS® RELEASE JANUARY 2020 STATS</b></span></div>
<div style="text-align: justify;">
<span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><br />TORONTO, February 6, 2020 - TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent compared to December 2019.<br /><br />“We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said Mr. Collins.<br /><br />The MLS® HPI Composite Benchmark price was up by 8.7 per cent compared to January 2019 – the highest annual rate of growth for the Benchmark since October 2017. The condominium apartment market segment continued to lead the way in terms of MLS HPI® price growth, but all home types experienced price growth above seven per cent when considering the TRREB market area as a whole. The average selling price in January was up by 12.3 per cent, driven by the detached and condominium apartment segments in the City of Toronto.<br /><br />“A key difference in the price growth story in January 2020 compared to January 2019 was in the low-rise market segments, particularly with regard to detached houses. A year seems to have made a big difference. It is clear that many buyers who were on the sidelines due to the OSFI stress test are moving back into the market, driving very strong year-over-year sales growth in the detached segment. Strong sales up against a constrained supply continues to result in an accelerating rate of price growth,” said Jason Mercer, TRREB’s Director of Market Analysis and Service Channels.</span><span style="font-family: "Century Gothic", sans-serif; font-size: 11pt;"><o:p></o:p></span></div>
Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0tag:blogger.com,1999:blog-3564925468096299257.post-51082296471815292762020-01-29T09:09:00.000-08:002020-01-29T09:09:00.988-08:00■This Month in Real Estate | JANUARY, 2020<div class="separator" style="clear: both; text-align: center;">
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<br />Nat Smilis REALTOR®http://www.blogger.com/profile/05150057385998428068noreply@blogger.com0