[Video Below] ๐—ช๐—ฒ๐—ฒ๐—ธ ๐Ÿญ๐Ÿฐ ๐—ป๐—ผ๐˜„ ๐—ถ๐—ป ๐˜๐—ต๐—ฒ ๐—ฏ๐—ผ๐—ผ๐—ธ๐˜€.

๐—” ๐—พ๐˜‚๐—ถ๐—ฐ๐—ธ ๐—ป๐—ผ๐˜๐—ฒ ๐˜๐—ผ ๐—ฎ๐—ฐ๐—ธ๐—ป๐—ผ๐˜„๐—น๐—ฒ๐—ฑ๐—ด๐—ฒ ๐˜๐—ต๐—ฎ๐˜ ๐—ท๐˜‚๐˜€๐˜ ๐—ฏ๐—ฒ๐—ฐ๐—ฎ๐˜‚๐˜€๐—ฒ ๐˜€๐—ผ๐—บ๐—ฒ ๐˜๐—ถ๐—บ๐—ฒ ๐—ต๐—ฎ๐˜€ ๐—ฝ๐—ฎ๐˜€๐˜€๐—ฒ๐—ฑ ๐—ฑ๐—ผ๐—ฒ๐˜€๐—ป’๐˜ ๐—บ๐—ฒ๐—ฎ๐—ป ๐—ถ๐˜’๐˜€ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—ฎ๐˜€ ๐˜‚๐˜€๐˜‚๐—ฎ๐—น ๐—ฎ๐—ป๐—ฑ ๐˜„๐—ฒ ๐—ฐ๐—ฎ๐—ป ๐—ด๐—ผ ๐—ฏ๐—ฎ๐—ฐ๐—ธ ๐˜๐—ผ ๐—ผ๐˜‚๐—ฟ ๐—ฟ๐—ฒ๐—ด๐˜‚๐—น๐—ฎ๐—ฟ๐—น๐˜† ๐˜€๐—ฐ๐—ต๐—ฒ๐—ฑ๐˜‚๐—น๐—ฒ ๐—ฝ๐—ฟ๐—ผ๐—ด๐—ฟ๐—ฎ๐—บ๐˜€. ๐—”๐—ป๐˜๐—ถ-๐—ฏ๐—น๐—ฎ๐—ฐ๐—ธ ๐—ฟ๐—ฎ๐—ฐ๐—ถ๐˜€๐—บ ๐—ถ๐˜€ ๐—ฎ ๐—ฏ๐—ถ๐—ด ๐—ณ๐˜‚๐—ฐ๐—ธ๐—ถ๐—ป๐—ด ๐—ฝ๐—ฟ๐—ผ๐—ฏ๐—น๐—ฒ๐—บ. ๐—ฆ๐—ผ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—บ๐—ถ๐—ด๐—ต๐˜ ๐—ป๐—ฒ๐—ฒ๐—ฑ ๐˜๐—ผ ๐—ฐ๐—ผ๐—ป๐˜๐—ถ๐—ป๐˜‚๐—ฒ ๐—ฏ๐˜‚๐˜ ๐˜๐—ต๐—ฒ ๐˜„๐—ผ๐—ฟ๐—ธ, ๐˜€๐˜‚๐—ฝ๐—ฝ๐—ผ๐—ฟ๐˜, ๐—ฎ๐—ป๐—ฑ ๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ ๐—บ๐˜‚๐˜€๐˜ ๐—ฝ๐—ฟ๐—ผ๐—ด๐—ฟ๐—ฒ๐˜€๐˜€ ๐—น๐—ผ๐˜‚๐—ฑ๐—น๐˜† ๐—ฟ๐—ฒ๐—ด๐—ฎ๐—ฟ๐—ฑ๐—น๐—ฒ๐˜€๐˜€ ๐—ผ๐—ณ ๐˜„๐—ต๐—ฎ๐˜ ๐˜๐—ต๐—ฒ ๐—ป๐—ฒ๐˜…๐˜ ๐—ป๐—ฒ๐˜„๐˜€ ๐—ฐ๐˜†๐—ฐ๐—น๐—ฒ ๐—ต๐—ผ๐—น๐—ฑ๐˜€.

So let’s get into it…shall we? 

๐Ÿ  ๐—›๐—ผ๐˜‚๐˜€๐—ฒ๐˜€ have picked up some serious steam over the past couple of weeks almost doubling sales volume with 55 firm sales May 31-Jun6. 41 of them sold in multiple offers over the asking price. Needless to say, the Seller is firmly back in the driver’s seat in most urban communities with little to no “deals” available on or off market. 

๐Ÿ“ˆHouse Average Price: $1,497,098

๐Ÿ“ˆHouse Median Price: $1,400,000

๐Ÿ“ˆ366 Active Listings

๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.95 months (extremely low)

If you want a finished home that doesn’t require much work then you’re going to be north of a million with a few very dated but livable options under $950K. Venture out to communities like St. Clair and O’Connor and you’ll find a bit more value there. 

๐—ช๐—ต๐—ฎ๐˜ ๐—ถ๐˜€ ๐—ถ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜๐—ถ๐—ป๐—ด ๐˜๐—ผ ๐˜€๐—ฒ๐—ฒ ๐—ฎ๐—ฟ๐—ฒ ๐—ฏ๐—ถ๐—ด ๐˜๐—ถ๐—ฐ๐—ธ๐—ฒ๐˜ ๐—ต๐—ผ๐—บ๐—ฒ๐˜€ ๐—ป๐—ผ๐—ฟ๐˜๐—ต ๐—ผ๐—ณ $๐Ÿฎ๐—  ๐—ฐ๐—ผ๐—ป๐˜€๐—ถ๐˜€๐˜๐—ฒ๐—ป๐˜๐—น๐˜† ๐—ฎ๐˜๐˜๐—ฟ๐—ฎ๐—ฐ๐˜๐—ถ๐—ป๐—ด ๐—บ๐˜‚๐—น๐˜๐—ถ๐—ฝ๐—น๐—ฒ ๐—ฏ๐—ถ๐—ฑ๐˜€ ๐˜„๐—ถ๐˜๐—ต ๐—ฒ๐˜ƒ๐—ฒ๐—ป ๐—ฎ $๐Ÿฎ.๐Ÿฏ๐—  ๐—ต๐—ผ๐—บ๐—ฒ ๐—ถ๐—ป ๐—ฑ๐—ผ๐˜„๐—ป๐˜๐—ผ๐˜„๐—ป ๐˜๐—ผ๐—ฟ๐—ผ๐—ป๐˜๐—ผ ๐˜€๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด ๐—ณ๐—ผ๐—ฟ ๐—ท๐˜‚๐˜€๐˜ ๐—ผ๐˜ƒ๐—ฒ๐—ฟ $๐Ÿฏ๐—  ๐—ถ๐—ป ๐Ÿณ ๐—ฑ๐—ฎ๐˜†๐˜€.

Toronto’s unemployment rate is currently 11.5% which is the highest I’ve ever seen it but that still hasn’t affected the typical home buyer/seller. The rental market has been trashed though but freehold rentals seem to still be performing better than condos. 

๐Ÿข๐—–๐—ผ๐—ป๐—ฑ๐—ผ๐˜€ are coming back super strong right now. Posting 83 firm sales with a whopping 104 additional conditional sales that will firm up over the next week. At this rate we could be back at pre-covid sales volume in a month. 

๐Ÿ“ˆCondo Average Price: $779,920

๐Ÿ“ˆCondo Median Price: $694,950

๐Ÿ“ˆ1341 Active Listings

๐Ÿ“ˆMoI ~ 4.29 months of inventory 

๐™๐™ž๐™œ๐™๐™ฉ ๐™ฃ๐™ค๐™ฌ ๐™ฉ๐™๐™š๐™ง๐™š ๐™ž๐™จ ๐™ซ๐™š๐™ง๐™ฎ ๐™ก๐™ž๐™ฉ๐™ฉ๐™ก๐™š ๐™™๐™ž๐™›๐™›๐™š๐™ง๐™š๐™ฃ๐™˜๐™š ๐™ž๐™ฃ ๐™ข๐™–๐™ง๐™ ๐™š๐™ฉ ๐™ฅ๐™ง๐™ž๐™˜๐™š ๐™–๐™ฃ๐™™ ๐™–๐™˜๐™ฉ๐™ž๐™ซ๐™ž๐™ฉ๐™ฎ ๐™ž๐™ฃ ๐™ค๐™ช๐™ง ๐™ช๐™ง๐™—๐™–๐™ฃ ๐™˜๐™ค๐™ข๐™ข๐™ช๐™ฃ๐™ž๐™ฉ๐™ž๐™š๐™จ ๐™ฌ๐™๐™š๐™ฃ ๐™˜๐™ค๐™ข๐™ฅ๐™–๐™ง๐™š๐™™ ๐™ฉ๐™ค ๐™ฅ๐™ง๐™š-๐™˜๐™ค๐™ซ๐™ž๐™™.

Some condo prices immediately in the core have suffered sitting longer on the market and selling for 5-8% less than pre-covid but they’re mainly airbnb friendly buildings with investors just cashing out. 

Now that airbnb is back and Ford about to announce phase 2 of the re-opening, we should see a pull back on some of those panic sellers further swinging the condo market back into the Seller’s favour. 

House and Condo owners. If you’ve been worried about the value of your home…please don’t. Seller’s who take the plunge and list are being rewarded with great offers right now and that should continue into the Summer. 

Watch more in the video below and visit TheSpringTeam.ca/blog 

As always, please comment below, DM, or call/text 416-434-1511 if any questions.

Week 14 Urban Toronto Real Estate Update

[Video below] ๐—ช๐—ฒ๐—ฒ๐—ธ ๐Ÿญ๐Ÿฐ ๐—ป๐—ผ๐˜„ ๐—ถ๐—ป ๐˜๐—ต๐—ฒ ๐—ฏ๐—ผ๐—ผ๐—ธ๐˜€.๐—” ๐—พ๐˜‚๐—ถ๐—ฐ๐—ธ ๐—ป๐—ผ๐˜๐—ฒ ๐˜๐—ผ ๐—ฎ๐—ฐ๐—ธ๐—ป๐—ผ๐˜„๐—น๐—ฒ๐—ฑ๐—ด๐—ฒ ๐˜๐—ต๐—ฎ๐˜ ๐—ท๐˜‚๐˜€๐˜ ๐—ฏ๐—ฒ๐—ฐ๐—ฎ๐˜‚๐˜€๐—ฒ ๐˜€๐—ผ๐—บ๐—ฒ ๐˜๐—ถ๐—บ๐—ฒ ๐—ต๐—ฎ๐˜€ ๐—ฝ๐—ฎ๐˜€๐˜€๐—ฒ๐—ฑ ๐—ฑ๐—ผ๐—ฒ๐˜€๐—ป'๐˜ ๐—บ๐—ฒ๐—ฎ๐—ป ๐—ถ๐˜'๐˜€ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—ฎ๐˜€ ๐˜‚๐˜€๐˜‚๐—ฎ๐—น ๐—ฎ๐—ป๐—ฑ ๐˜„๐—ฒ ๐—ฐ๐—ฎ๐—ป ๐—ด๐—ผ ๐—ฏ๐—ฎ๐—ฐ๐—ธ ๐˜๐—ผ ๐—ผ๐˜‚๐—ฟ ๐—ฟ๐—ฒ๐—ด๐˜‚๐—น๐—ฎ๐—ฟ๐—น๐˜† ๐˜€๐—ฐ๐—ต๐—ฒ๐—ฑ๐˜‚๐—น๐—ฒ ๐—ฝ๐—ฟ๐—ผ๐—ด๐—ฟ๐—ฎ๐—บ๐˜€. ๐—”๐—ป๐˜๐—ถ-๐—ฏ๐—น๐—ฎ๐—ฐ๐—ธ ๐—ฟ๐—ฎ๐—ฐ๐—ถ๐˜€๐—บ ๐—ถ๐˜€ ๐—ฎ ๐—ฏ๐—ถ๐—ด ๐—ฝ๐—ฟ๐—ผ๐—ฏ๐—น๐—ฒ๐—บ. ๐—ฆ๐—ผ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€ ๐—บ๐—ถ๐—ด๐—ต๐˜ ๐—ป๐—ฒ๐—ฒ๐—ฑ ๐˜๐—ผ ๐—ฐ๐—ผ๐—ป๐˜๐—ถ๐—ป๐˜‚๐—ฒ ๐—ฏ๐˜‚๐˜ ๐˜๐—ต๐—ฒ ๐˜„๐—ผ๐—ฟ๐—ธ, ๐˜€๐˜‚๐—ฝ๐—ฝ๐—ผ๐—ฟ๐˜, ๐—ฎ๐—ป๐—ฑ ๐—ฐ๐—ต๐—ฎ๐—ป๐—ด๐—ฒ ๐—บ๐˜‚๐˜€๐˜ ๐—ฝ๐—ฟ๐—ผ๐—ด๐—ฟ๐—ฒ๐˜€๐˜€ ๐—น๐—ผ๐˜‚๐—ฑ๐—น๐˜† ๐—ฟ๐—ฒ๐—ด๐—ฎ๐—ฟ๐—ฑ๐—น๐—ฒ๐˜€๐˜€ ๐—ผ๐—ณ ๐˜„๐—ต๐—ฎ๐˜ ๐˜๐—ต๐—ฒ ๐—ป๐—ฒ๐˜…๐˜ ๐—ป๐—ฒ๐˜„๐˜€ ๐—ฐ๐˜†๐—ฐ๐—น๐—ฒ ๐—ต๐—ผ๐—น๐—ฑ๐˜€.So let's get into it…shall we? ๐Ÿ  ๐—›๐—ผ๐˜‚๐˜€๐—ฒ๐˜€ have picked up some serious steam over the past couple of weeks almost doubling sales volume with 55 firm sales May 31-Jun6. 41 of them sold in multiple offers over the asking price. Needless to say, the Seller is firmly back in the driver's seat in most urban communities with little to no "deals" available on or off market. ๐Ÿ“ˆHouse Average Price: $1,497,098๐Ÿ“ˆHouse Median Price: $1,400,000๐Ÿ“ˆ366 Active Listings๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.95 months (extremely low)If you want a finished home that doesn't require much work then you're going to be north of a million with a few very dated but livable options under $950K. Venture out to communities like St. Clair and O'Connor and you'll find a bit more value there. ๐—ช๐—ต๐—ฎ๐˜ ๐—ถ๐˜€ ๐—ถ๐—ป๐˜๐—ฒ๐—ฟ๐—ฒ๐˜€๐˜๐—ถ๐—ป๐—ด ๐˜๐—ผ ๐˜€๐—ฒ๐—ฒ ๐—ฎ๐—ฟ๐—ฒ ๐—ฏ๐—ถ๐—ด ๐˜๐—ถ๐—ฐ๐—ธ๐—ฒ๐˜ ๐—ต๐—ผ๐—บ๐—ฒ๐˜€ ๐—ป๐—ผ๐—ฟ๐˜๐—ต ๐—ผ๐—ณ $๐Ÿฎ๐—  ๐—ฐ๐—ผ๐—ป๐˜€๐—ถ๐˜€๐˜๐—ฒ๐—ป๐˜๐—น๐˜† ๐—ฎ๐˜๐˜๐—ฟ๐—ฎ๐—ฐ๐˜๐—ถ๐—ป๐—ด ๐—บ๐˜‚๐—น๐˜๐—ถ๐—ฝ๐—น๐—ฒ ๐—ฏ๐—ถ๐—ฑ๐˜€ ๐˜„๐—ถ๐˜๐—ต ๐—ฒ๐˜ƒ๐—ฒ๐—ป ๐—ฎ $๐Ÿฎ.๐Ÿฏ๐—  ๐—ต๐—ผ๐—บ๐—ฒ ๐—ถ๐—ป ๐—ฑ๐—ผ๐˜„๐—ป๐˜๐—ผ๐˜„๐—ป ๐˜๐—ผ๐—ฟ๐—ผ๐—ป๐˜๐—ผ ๐˜€๐—ฒ๐—น๐—น๐—ถ๐—ป๐—ด ๐—ณ๐—ผ๐—ฟ ๐—ท๐˜‚๐˜€๐˜ ๐—ผ๐˜ƒ๐—ฒ๐—ฟ $๐Ÿฏ๐—  ๐—ถ๐—ป ๐Ÿณ ๐—ฑ๐—ฎ๐˜†๐˜€.Toronto's unemployment rate is currently 11.5% which is the highest I've ever seen it but that still hasn't affected the typical home buyer/seller. The rental market has been trashed though but freehold rentals seem to still be performing better than condos. ๐Ÿข๐—–๐—ผ๐—ป๐—ฑ๐—ผ๐˜€ are coming back super strong right now. Posting 83 firm sales with a whopping 104 additional conditional sales that will firm up over the next week. At this rate we could be back at pre-covid sales volume in a month. ๐Ÿ“ˆCondo Average Price: $779,920๐Ÿ“ˆCondo Median Price: $694,950๐Ÿ“ˆ1341 Active Listings๐Ÿ“ˆMoI ~ 4.29 months of inventory ๐™๐™ž๐™œ๐™๐™ฉ ๐™ฃ๐™ค๐™ฌ ๐™ฉ๐™๐™š๐™ง๐™š ๐™ž๐™จ ๐™ซ๐™š๐™ง๐™ฎ ๐™ก๐™ž๐™ฉ๐™ฉ๐™ก๐™š ๐™™๐™ž๐™›๐™›๐™š๐™ง๐™š๐™ฃ๐™˜๐™š ๐™ž๐™ฃ ๐™ข๐™–๐™ง๐™ ๐™š๐™ฉ ๐™ฅ๐™ง๐™ž๐™˜๐™š ๐™–๐™ฃ๐™™ ๐™–๐™˜๐™ฉ๐™ž๐™ซ๐™ž๐™ฉ๐™ฎ ๐™ž๐™ฃ ๐™ค๐™ช๐™ง ๐™ช๐™ง๐™—๐™–๐™ฃ ๐™˜๐™ค๐™ข๐™ข๐™ช๐™ฃ๐™ž๐™ฉ๐™ž๐™š๐™จ ๐™ฌ๐™๐™š๐™ฃ ๐™˜๐™ค๐™ข๐™ฅ๐™–๐™ง๐™š๐™™ ๐™ฉ๐™ค ๐™ฅ๐™ง๐™š-๐™˜๐™ค๐™ซ๐™ž๐™™.Some condo prices immediately in the core have suffered sitting longer on the market and selling for 5-8% less than pre-covid but they're mainly airbnb friendly buildings with investors just cashing out. Now that airbnb is back and Ford about to announce phase 2 of the re-opening, we should see a pull back on some of those panic sellers further swinging the condo market back into the Seller's favour. House and Condo owners. If you've been worried about the value of your home…please don't. Seller's who take the plunge and list are being rewarded with great offers right now and that should continue into the Summer. Watch more in the video below and visit TheSpringTeam.ca/blog As always, please comment below, DM, or call/text 416-434-1511 if any questions. cc: The Spring Team Real Estate

Posted by Ara Mamourian on Monday, June 8, 2020

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