[𝗩𝗶𝗱𝗲𝗼 𝗕𝗲𝗹𝗼𝘄] 𝗪𝗲𝗲𝗸 𝟭𝟲’𝘀 𝘁𝗵𝗲𝗺𝗲 𝗶𝘀: 𝗕𝘂𝘆𝗲𝗿 𝗖𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲 𝗶𝘀 𝗮𝘀 𝘀𝘁𝗿𝗼𝗻𝗴 𝗮𝘀 𝗶𝘁’𝘀 𝗲𝘃𝗲𝗿 𝗯𝗲𝗲𝗻. 𝗘𝘃𝗲𝗻 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗺𝗮𝘆𝗯𝗲.
🏠 𝗛𝗼𝘂𝘀𝗲𝘀 continue to aggressively sell at extremely high prices in our urban communities.
So let’s dig into the Urban Markets for now shall we?
📈House Average Price: $1,638,685
📈House Median Price: $1,409,000
📈441 Active Listings
📈66 Firm Sales This Week
📈Months of Inventory (MoI) ~ 2.32 months
📈Average Days on Market – 8.29 DoM
𝙇𝙖𝙨𝙩 𝙬𝙚𝙚𝙠, 𝙄 𝙬𝙧𝙤𝙩𝙚 𝙖𝙗𝙤𝙪𝙩 𝙚𝙣𝙨𝙪𝙧𝙞𝙣𝙜 𝙮𝙤𝙪 𝙣𝙤𝙩 𝙬𝙖𝙞𝙩 𝙛𝙤𝙧 𝙩𝙝𝙚 𝙤𝙛𝙛𝙚𝙧 𝙙𝙖𝙮 𝙡𝙖𝙨𝙩 𝙬𝙚𝙚𝙠. 𝙄𝙩’𝙨 𝙞𝙢𝙥𝙚𝙧𝙖𝙩𝙞𝙫𝙚 𝙩𝙝𝙖𝙩 𝙮𝙤𝙪𝙧 𝙖𝙜𝙚𝙣𝙩 𝙘𝙤𝙣𝙩𝙖𝙘𝙩𝙨 𝙩𝙝𝙚 𝙇𝙞𝙨𝙩𝙞𝙣𝙜 𝙗𝙧𝙤𝙠𝙚𝙧 𝙤𝙛 𝙖 𝙝𝙤𝙢𝙚 𝙮𝙤𝙪’𝙧𝙚 𝙞𝙣𝙩𝙚𝙧𝙚𝙨𝙩𝙚𝙙 𝙞𝙣 𝙩𝙝𝙚 𝙈𝙊𝙈𝙀𝙉𝙏 𝙮𝙤𝙪 𝙙𝙚𝙘𝙞𝙙𝙚 𝙮𝙤𝙪 𝙬𝙖𝙣𝙩 𝙩𝙤 𝙢𝙖𝙠𝙚 𝙖𝙣 𝙤𝙛𝙛𝙚𝙧. 𝙏𝙝𝙞𝙣𝙜𝙨 𝙘𝙖𝙣 𝙘𝙝𝙖𝙣𝙜𝙚 𝙞𝙣 𝙖 𝙣𝙖𝙣𝙤𝙨𝙚𝙘𝙤𝙣𝙙 𝙖𝙣𝙙 𝙮𝙤𝙪 𝙈𝙐𝙎𝙏 𝙗𝙚 𝙤𝙣 𝙩𝙝𝙚𝙞𝙧 𝙧𝙖𝙙𝙖𝙧 𝙩𝙤 𝙨𝙩𝙖𝙮 𝙞𝙣 𝙩𝙝𝙚 𝙜𝙖𝙢𝙚.
Having that clear and open line of comms with the listing side will make your eventual offer much much easier when the time comes. Telling the story of your and your Buyers and helping the Listing side get comfortable with you and your client’s ability to provide a strong and efficient closing (and the path to closing) is just as important as the offer price in most cases.
𝗧𝗼𝗿𝗼𝗻𝘁𝗼’𝘀 𝘂𝗻𝗲𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁 𝗿𝗮𝘁𝗲 𝗱𝗶𝗽𝗽𝗲𝗱 𝘀𝗹𝗶𝗴𝗵𝘁𝗹𝘆 𝗳𝗿𝗼𝗺 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸 𝘁𝗼 𝟭𝟭.2% (𝗳𝗿𝗼𝗺 𝟭𝟭.3%) 𝗮𝗻𝗱 𝗜 𝘀𝗲𝗲 𝘁𝗵𝗮𝘁 𝗶𝗺𝗽𝗿𝗼𝘃𝗶𝗻𝗴 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗰𝗼𝗺𝗶𝗻𝗴 𝘄𝗲𝗲𝗸𝘀.
🏢𝗖𝗼𝗻𝗱𝗼𝘀 are once again on the radar of buyers and although we’re still about 39% down in total number of sales from the first week of March, prices are stable and climbing in most buildings and communities. 𝙒𝙞𝙩𝙝 134 𝙘𝙤𝙣𝙙𝙤𝙨 𝙘𝙪𝙧𝙧𝙚𝙣𝙩𝙡𝙮 𝙨𝙤𝙡𝙙 𝙘𝙤𝙣𝙙𝙞𝙩𝙞𝙤𝙣𝙖𝙡𝙡𝙮, 𝙬𝙚 𝙖𝙡𝙧𝙚𝙖𝙙𝙮 𝙠𝙣𝙤𝙬 𝙣𝙚𝙭𝙩 𝙬𝙚𝙚𝙠 𝙞𝙨 𝙜𝙤𝙞𝙣𝙜 𝙩𝙤 𝙗𝙡𝙤𝙬 𝙩𝙝𝙞𝙨 𝙬𝙚𝙚𝙠 𝙤𝙪𝙩 𝙤𝙛 𝙩𝙝𝙚 𝙬𝙖𝙩𝙚𝙧.
📈Condo Average Price: $767,825
📈Condo Median Price: $675,000
📈1697 Active Listings
📈112 Firm Sales This Week
📈MoI ~ 5.24 months of inventory
📈Average Days on Market (DOM) – 14.29
𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗮𝗹𝗹 𝘁𝗵𝗶𝘀 𝗺𝗲𝗮𝗻 𝘁𝗼 𝘆𝗼𝘂? if you’re a buyer of a house in Toronto then your journey will need to be navigated by a serious local professional. It’s extremely competitive out there and most of the time properties are selling prior to their set offer date. 𝙄𝙛 𝙮𝙤𝙪 𝙤𝙬𝙣 𝙖 𝙝𝙤𝙢𝙚, 𝙄 𝙘𝙖𝙣 𝙥𝙧𝙤𝙗𝙖𝙗𝙡𝙮 𝙥𝙤𝙨𝙞𝙩𝙞𝙤𝙣 𝙞𝙩 𝙩𝙤 𝙗𝙚 𝙨𝙤𝙡𝙙 𝙛𝙤𝙧 𝙢𝙤𝙧𝙚 𝙩𝙝𝙖𝙣 𝙮𝙤𝙪 𝙩𝙝𝙞𝙣𝙠. 𝙈𝙚𝙨𝙨𝙖𝙜𝙚 𝙢𝙚 𝙖𝙣𝙙 𝙬𝙚’𝙡𝙡 𝙩𝙖𝙡𝙠 𝙖𝙗𝙤𝙪𝙩 𝙩𝙝𝙖𝙩.
Condo buyers have a little more breathing room but not much. Most condos in urban communities surrounding the downtown core are performing extremely well and the higher-end $1.1M+ condos are selling faster than ever.
𝙏𝙝𝙚 𝙤𝙥𝙥𝙤𝙧𝙩𝙪𝙣𝙞𝙩𝙞𝙚𝙨 𝙨𝙩𝙞𝙡𝙡 𝙚𝙭𝙞𝙨𝙩 𝙞𝙣 𝙩𝙝𝙚 𝙘𝙤𝙣𝙙𝙤 𝙖𝙨𝙨𝙞𝙜𝙣𝙢𝙚𝙣𝙩 𝙢𝙖𝙧𝙠𝙚𝙩 𝙗𝙪𝙩 𝙖𝙧𝙚 𝙨𝙡𝙤𝙬𝙞𝙣𝙜 𝙙𝙬𝙞𝙣𝙙𝙡𝙞𝙣𝙜. 𝙄 𝙝𝙖𝙫𝙚 4 𝙪𝙣𝙩𝙞𝙡 𝙖𝙫𝙖𝙞𝙡𝙖𝙗𝙡𝙚 𝙧𝙞𝙜𝙝𝙩 𝙣𝙤𝙬 𝙖𝙩 $1100/𝙋𝙎𝙁 𝙞𝙣 𝘾𝙤𝙣𝙘𝙤𝙧𝙙’𝙨 𝙇𝙖𝙠𝙚𝙎𝙝𝙤𝙧𝙚 𝙥𝙧𝙤𝙟𝙚𝙘𝙩 𝙩𝙝𝙖𝙩’𝙨 𝙧𝙚𝙖𝙙𝙮 𝙛𝙤𝙧 𝙤𝙘𝙘𝙪𝙥𝙖𝙣𝙘𝙮 𝙞𝙣 𝘼𝙪𝙜𝙪𝙨𝙩.
Pre-Construction: So last week I noted that we hadn’t yet launched a project during COVID times so there’s no baseline.
However, I’ve been fully advertising 28 Eastern Ave, Toronto’s first launch during COVID and the response has been INSANE.
I already have suite requests submitted to the developer for all types of units starting from $500K to over $1.3M. I have no doubt this project will sell out quickly. Proving once again that Buyers are well funded and extremely confident in their local jobs.
𝙊𝙣𝙚 𝙤𝙛 𝙤𝙪𝙧 𝙣𝙚𝙬 𝙘𝙡𝙞𝙚𝙣𝙩𝙨 𝙚𝙫𝙚𝙣 𝙬𝙤𝙧𝙠𝙨 𝙞𝙣 𝙁𝙞𝙡𝙢 𝙖𝙣𝙙 𝙖𝙨 𝙩𝙝𝙞𝙣𝙜𝙨 𝙥𝙞𝙘𝙠 𝙪𝙥 𝙛𝙤𝙧 𝙝𝙚𝙧 𝙖𝙣𝙙 𝙝𝙚𝙧 𝙛𝙪𝙩𝙪𝙧𝙚 𝙡𝙤𝙤𝙠𝙨 𝙢𝙤𝙧𝙚 𝙘𝙚𝙧𝙩𝙖𝙞𝙣, 𝙨𝙝𝙚’𝙨 𝙗𝙪𝙮𝙞𝙣𝙜. 𝙏𝙝𝙚 𝙨𝙖𝙢𝙚 𝙨𝙩𝙤𝙧𝙮 𝙖𝙘𝙧𝙤𝙨𝙨 𝙩𝙝𝙚 𝙗𝙤𝙖𝙧𝙙. 𝘾𝙝𝙚𝙘𝙠 𝙞𝙩 𝙤𝙪𝙩 𝙝𝙚𝙧𝙚 www.CorktownCondos.co
𝙄’𝙫𝙚 𝙗𝙚𝙚𝙣 𝙩𝙧𝙖𝙘𝙠𝙞𝙣𝙜 𝙩𝙝𝙚 𝙡𝙪𝙭𝙪𝙧𝙮 𝙢𝙖𝙧𝙠𝙚𝙩 𝙦𝙪𝙞𝙩𝙚 𝙘𝙡𝙤𝙨𝙚𝙡𝙮 𝙖𝙨 𝙬𝙚𝙡𝙡. 𝘾𝙤𝙢𝙢𝙪𝙣𝙞𝙩𝙞𝙚𝙨 𝙞𝙣 𝙏𝙤𝙧𝙤𝙣𝙩𝙤’𝙨 𝙍𝙤𝙨𝙚𝙙𝙖𝙡𝙚, 𝘿𝙚𝙚𝙧 𝙋𝙖𝙧𝙠, 𝙎𝙤𝙪𝙩𝙝 𝙁𝙤𝙧𝙚𝙨𝙩 𝙃𝙞𝙡𝙡, 𝙎𝙪𝙢𝙢𝙚𝙧𝙝𝙞𝙡𝙡, 𝙖𝙣𝙙 𝙈𝙤𝙤𝙧𝙚 𝙋𝙖𝙧𝙠 𝙖𝙧𝙚 𝙥𝙚𝙧𝙛𝙤𝙧𝙢𝙞𝙣𝙜 𝙫𝙚𝙧𝙮 𝙬𝙚𝙡𝙡 𝙬𝙞𝙩𝙝 𝙘𝙤𝙣𝙨𝙞𝙨𝙩𝙚𝙣𝙩𝙡𝙮 𝙞𝙣 𝙙𝙚𝙢𝙖𝙣𝙙 $2.5𝙈++ 𝙝𝙤𝙢𝙚𝙨 𝙨𝙚𝙡𝙡𝙞𝙣𝙜 𝙚𝙭𝙩𝙧𝙚𝙢𝙚𝙡𝙮 𝙛𝙖𝙨𝙩 𝙖𝙣𝙙 𝙛𝙤𝙧 𝙗𝙞𝙜 𝙣𝙪𝙢𝙗𝙚𝙧𝙨.
I’ll be putting together a 2nd update weekly to focus specifically on these luxury communities starting next week (only on the blog so make sure you’re signed up there –> https://thespringteam.ca/newsletter-signup) as more of my clients have been graduating into the luxury and super luxury markets.
As always, please comment below, DM, or call/text 416-434-1511 if any questions. cc: The Spring Team Real Estate
𝙒𝙖𝙩𝙘𝙝 𝙢𝙤𝙧𝙚 𝙞𝙣 𝙩𝙝𝙚 𝙫𝙞𝙙𝙚𝙤 𝙗𝙚𝙡𝙤𝙬 𝙖𝙣𝙙 𝙫𝙞𝙨𝙞𝙩 𝙏𝙝𝙚𝙎𝙥𝙧𝙞𝙣𝙜𝙏𝙚𝙖𝙢.𝙘𝙖/𝙗𝙡𝙤𝙜