Share of Total Condo Apartment Sales By Bedroom Type (All Areas) Source: Toronto Real Estate Board Q3 Many forecasters or pundits get bogged down in irrelevant statistics. Past experience has shown that the view from ‘the street’ has been more accurate than the ‘view from the executive floor’. In real estate, lower sales do not automatically translate into lower prices. And the average price to average income ratio for valuing property prices over a number of years is also of little value when you consider the impact of immigrants, non-residents, and self- employed buyers in today’s market. If ...
2017 Toronto Real Estate Market Forecast
January 10, 2017
3 Predictions for Toronto Real Estate in 2017
December 19, 2016
With 2016 drawing to a close, everyone wants to talk about the Toronto market for 2017. So here are my preliminary thoughts; Lower Sales than in 2016 We predict lower sales than we've seen in 2016. Why? There is no product available and listings are way down. Secondly, the new mortgage rules will make it harder to qualify for everyone. For first-time Buyers, many will not even qualify at all, which will put a drag on the move-up market as well. Prices will not be falling No, prices will not be falling, but don't expect price increases of 20 ...
January 2016 Market Forecast
January 7, 2016
In Review Most experts got last year’s forecast for Toronto real estate correct: that there would be no slowdown in sales or prices. But we were the only one to call for a record sales year for TREB and for a growing imbalance in sales between 905 and 416 areas. For 2016, CMHC and all the big banks are calling for lower sales and a slowing of price increases to zero or just the rate of inflation. In fact CMHC says that TREB sales will fall to 87,500 units by 2017 – a 13% decrease. The reasons advanced are ...
How To Track the Toronto Condo Market
October 7, 2014Canadian Condo Market Toronto Real Estate Market Forecast Toronto Condos Tips for Real Estate Agents Videos
Last week we talked about how you can track and forecast the condo market. We said all you need to do is look at three statistics. The level of immigration in the GTA The annual level of new condo completions The amount of mortgages in arrears Today I want to talk about the second statistic, Condo Completions. In the pre-construction market, there are all sorts of stats. From new condo sales to units under construction, to unsold units and more. The problem with all these numbers is there is no third party verification and no agreed upon definitions. Anyone ...
JULY/AUGUST 2014 - MARKET REPORT
August 20, 2014
SALES COMMENTARY: July sale numbers on the Toronto Real Estate Board confirmed what we have been saying since April, that 2014 will probably be a record sales year. That is not as big an accomplishment as many would have you believe. The previous record for sales was in 2007. The market is simply waking up to the fact that there will be no market correction for the foreseeable future. For July, overall sales were up by 10% over last year and were the second best July numbers on record. Condo sales were even better. They were up by almost ...
Market Report July/August 2014
July 14, 2014
[caption id="attachment_858" align="aligncenter" width="450"] Market Report July / August 2014[/caption] Sales Commentary June was another excellent sales month on the Toronto Real Estate Board. Sales were up by 15% over June of last year. We were looking for 10,500 sales but we only reached 10,180. On a year-to-date basis, sales are just under 49,000. Historically the first half year usually represents 55% of annual sales. Given the slow start to the year with severe weather, the number is probably closer to 52%. On that basis, we are looking at year-end sales of 90-94,000 units which would make 2014 either ...
March/April Market Report
March 26, 2014Canadian Condo Market Canadian Real Estate Toronto Condos Toronto Condos Update Toronto Real Estate Market Forecast
SALES COMMENTARY: February sales results from the Toronto Real Estate Board were almost identical to January. And for the first two weeks of March, results are eerily similar. It seems like we are just treading water because of the harsh weather. Overall sales in February were up by 2% over February of 2013. New listings were off by 1% from February of last year and active listings are now 12% lower than this time a year ago. For the first two weeks of March, sales are unchanged from the same time period last year and new listings are off ...
JANUARY 2014 - MARKET FORECAST
January 9, 2014
2014 MARKET FORECAST FOR TORONTO and the CONDO MARKET Every year we like to review our last year’s forecast (unlike those who keep calling for a market correction). Just recall the MacLeans Magazine Cover and the words “Inside the Great Real Estate Crash of 2013”. In contrast we predicted only a ‘market pause’ with a return to a more normal market, and with 2013 outpacing 2012 in the latter half of the year. So why are we able to do a better job of forecasting? The answer is that we live and work in this market. It is not ...
WHERE ARE THE MULTIPLE OFFERS IN THE TORONTO MARKET?
December 16, 2013Toronto Real Estate Market Forecast Mortgage Regulations City Land Transfer Tax CHMC real estate prices 2013
The media tends to sensationalize multiple offers – especially when the sale price goes a hundred thousand over list. The truth is, very few properties experience a bidding war, except for one particular property type. That property type is a resale freehold (you own the land and structure, so it can be a semi, row or detached house) located within the 416 area code. With more and more people wanting to live downtown, there is already an existing built up demand. Finally, it must be listed at and sold for less than a million dollars! So why is this ...
THE FOUR BASIC RULES FOR INVESTING IN REAL ESTATE
November 12, 2013
Real estate investing does not need to be complicated. If you just follow these four basic rules, you can become financially secure. You need to own your principal residence as soon as possible. It is almost impossible to ‘time’ the market but the longer you own, the more your property will appreciate. It is exactly the same theory as investing for your retirement, the sooner you start, the more your money will compound and grow over time. If you cannot afford to carry the property you want, rent out a portion of the property or take on a roommate ...