Jason Bondy-Sawyer

November 2017 Market Stats: Infographic & Report

November 2017 Market Stats: Infographic & Report Photo

November 2017 market stats are here!

The average sale price for the month was $761,757, down 2.0% compared to November 2016.

Here’s a breakdown of the average sale prices & year-over-year increases/decreases for the 416 area code:

  • Detached = $1,276,184 (-5.1%)
  • Semi-Detached = $904,711 (-0.7%)
  • Townhouse = $760,501 (+12.3%)
  • Condo Apartment = $555,396 (+17.7%)

And here’s TREB’s official market report for the month November 2017:

Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB’s MLS® System in November 2017.

This result was up compared to October 2017, bucking the regular seasonal trend.

On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016.

New listings entered into TREB’s MLS® System in November 2017 amounted to 14,349 – up by 37.2 per cent compared to November 2016, when the supply of listings was very low from a historic perspective.

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Our Real Estate Fave Of The Week: 116 Bertmount Ave

Our Real Estate Fave Of The Week: 116 Bertmount Ave Photo

In the heart of Leslieville lies 116 Bertmount Ave!

This semi-detached, 3-storey home has 4 + 1 bedrooms and 3 bathrooms. It’s had many upgrades, including a totally renovated basement apartment.

What’s our favourite feature?

The cozy 3rd floor master, with its exposed brick, window seat, fireplace, and large french doors that open onto a private deck.

More Features:

  • Character filled home with classic brick exterior
  • Pretty leaded windows and living room fireplace
  • Large kitchen with stone counters and island
  • Income potential from basement unit
  • Parking for 1 car
  • Great neighbourhood

Price: $1,300,000

Taxes: $4,626.62/2017

Lot Size: 18.42 x 76.25 feet

Would you like a private tour of this home?  Give us a shout and we’ll make it happen!

Take a gander at all these gorgeous pics:

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Who Actually Benefits From An Open House?

Who Actually Benefits From An Open House? Photo

There’s a misconception out there that open houses are not worth doing.

A lot of realtors think they’re a waste of time. And a lot of sellers assume that the only people who come to open house are nosy neighbours and tire kickers.

Some people think that open houses do nothing more than benefit the listing agent, who uses them to try and capture new buyer leads.

In my opinion though, open houses are definiely worth doing and should be an important part of any home’s marketing strategy.

In fact, an open house can potentially benefit all of the parties invloved in the buying/selling process.

How does the seller benefit?

The seller benefits from the added exposure the property gets. Open houses allow any number of potential buyers to view the property who were not able to book a private showing during the week. Yes, this includes nosy neighbors and tire kickers, but that’s to be expected.

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Our Real Estate Fave Of The Week: 1003 Queen St E #202

Lofty Living In Lesliville!

This lavish 2 bedroom, 2 bathroom loft boasts 10 foot ceilings, over 1,100 sq ft of space, and tasteful modern design. Want to bring the party outside? There’s a shared rooftop deck and garden with available BBQ hookup.

What are our favourite features?

The ceiling height, of course! And the large kitchen with pantry and cupboards galore (and did you see that gorgeous glass door refrigerator?!).

More Features:

  • Wide plank engineered hardwood flooring
  • Large windows and plenty of natural light
  • Only 8 units in the building
  • 10 foot ceilings
  • One owned parking space
  • Owned locker
  • Shared rooftop deck/garden, gym

Price: $799,900

Taxes: $5,081.45/2017

Maintenance: $757.75

Approx Sqft: 1,000 – 1,199

Would you like a private tour of this home?  Give us a shout and we’ll make it happen!

Take a gander at all these gorgeous pics:

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October 2017 Market Stats: Infographic & Report

October 2017 Market Stats: Infographic & Report Photo

October 2017 market stats are here!

The average sale price for the month was $780,104, up 2.3% over October 2016.

Here’s a breakdown of the average sale prices & year-over-year increases for the 416 area code:

  • Detached = $1,287,765 (-1.1%)
  • Semi-Detached = $948,309 (+5.2%)
  • Townhouse = $742,845 (+8.0%)
  • Condo Apartment = $555,004 (+20.9%)

And here’s TREB’s official market report for the month October 2017:

Toronto Real Estate Board President Tim Syrianos reported 7,118 residential sales through TREB’s MLS® System in October 2017. This result represented an above-average increase between September and October of almost 12 per cent, pointing to stronger fall market conditions.

On a year-over-year basis, October sales were down compared to 9,715 transactions in September 2016. Total sales reported through the first 10 months of 2017 amounted to 80,198 – down from 99,233 for the same time period in 2016.

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Our Real Estate Fave Of The Week: 39 Bishop St

Our Real Estate Fave Of The Week: 39 Bishop St Photo

Chic designer townhouse on Cul de Sac in Yorkville!

This stunning 2 bedroom townhouse has 3 bathrooms and has been renovated from top to bottom. Walk out from sliding glass doors to your beautiful patio oasis to entertain… or take a short stroll to be entertained!

What are our favourite features? 

The freestanding soaker tub is pure luxury. And with the traffic in Toronto these days, having a short walk to literally everything you need doesn’t hurt!

More Features:

  • Modern kitchen with island range hood
  • Wide plank oak hardwood flooring
  • Floating staircase
  • Heated basement & bathroom floors
  • Walk-in closet in master bedroom
  • Beautiful light fixtures & window coverings

Price: $1,700,000

Taxes: $5,256.11/2017

Lot Size: 15.9 x 60 feet

Would you like a private tour of this home?  Give us a shout and we’ll make it happen!

Take a gander at all these gorgeous pics:

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Under Pressure: Will Some Sellers Benefit From The New Mortgage Stress-Test?

Will Some Sellers Benefit From The New Mortgage Stress-Test? Photo

Ever since the new mortgage rules were announced almost 2 weeks ago, I’ve been monitoring the Toronto MLS to see how many new listings hit the market and try to take advantage of the upcoming changes.

I found a few listings that explicitly highlight the impending rule changes in the “extras” section of the property description. Take a look at the screenshots below:

Under Pressure: Will Some Sellers Benefit From The New Mortgage Stress-Test? Photo

Under Pressure: Will Some Sellers Benefit From The New Mortgage Stress-Test? Photo

Whether or not prospective buyers will actually feel the pressure to make a move on either of these particular properties remains to be seen, but no doubt there are sellers out there who see a potential opportunity here.

I’ve already heard from a few seller clients of my own who are seriously considering bumping up their plans to list.

Instead of waiting until spring 2018 as previously planned, November 2017 has become a very attractive alternative.

While not every buyer needs to stress about the new stress-test (as I outlined in my blog post from last week), some will certainly be affected by the new rules. Specifically those who need to push their mortgage amount to the maximum.

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Our Real Estate Fave Of The Week: 775 King St W #424

Can you say location, location, location? Hello King West!

This 1 bedroom + den condo is spread out over two floors, and features a floor-to-ceiling wall of windows. Living room walk-out to a large balcony overlooking prime King West excitement.

What’s our favourite feature?

The warm, homey feel that the wood staircase adds. 

More Features:

  • Open concept main floor
  • Separation of living space over two floors
  • Large windows
  • Well reputed Minto building, with concierge
  • Reasonable condo fees, with amenities including party/media rooms, a gym, and guest suites
  • Parking & locker!

Price: $560,000

Taxes: $2,405/2017

Size: 600-699 sq ft

Condo Fees: $299.66

Would you like a private tour of this home?  Give us a shout and we’ll make it happen!

Take a gander at all these gorgeous pics:

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Who’s Actually Going To Be Affected By The New Mortgage Stress-Test?

Who's Actually Going To Be Affected By The New Mortgage Stress-Test? Photo

Since last week’s announcement by the Office of the Superintendent of Financial Institutions (OSFI) about the upcoming changes to the Canadian mortgage rules, I’ve seen plenty of buyers fret that their budgets are going to be reduced by as much as 20%.

This isn’t necessarily the case though, and not every buyer needs to stress about the new stress test. Let’s recap what sort of changes are coming once the new rules are implemented on January 1st, 2018.

The Biggest Change

Once the new rules come into play no-one will be able to qualify at less than the benchmark rate (which today is set at 4.89%). And in fact, borrowers with a down payment of more than 20% will have to qualify at either the benchmark rate or their contract rate + 2%, whichever is greater. So it’s quite possible that some borrowers will have to qualify at a rate that is greater than the current benchmark rate of 4.89%!

To give you some perspective: Since the last round of mortgage rule changes came into effect last year, only default-insured borrowers (these borrowers typically have a down payment of less than 20%) have had to qualify at the benchmark rate.

Borrowers with a down payment of more than 20% (and not default-insured) have had the benefit of only needing to qualify at their contract rate (which is typically less than the benchmark rate).

Come January 1st 2018 though, all borrowers, regardless of their down payment amount and regardless of whether or not their mortgage is default-insured, will have to qualify at the benchmark rate (or possibly higher).

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Our Real Estate Fave Of The Week: 82 Hertle Ave

Nestled in between cool Lesliville and the beautiful Beaches!

This semi-detached, 2-storey home has 3 bedrooms and 2 bathrooms. It’s been opened-up into a modern open concept layout, with a good size lot (23 X 122 feet) and plenty of room to grow in the future.

What are our favourite features?

The gorgeous Ella quartz kitchen island and the finished basement (complete with modern bathroom!) which adds 500 sq ft of extra usable space to the home.

More Features:

  • Open concept main floor w/ pot lights
  • Gorgeous hardwood flooring throughout
  • Renovated kitchen with stainless steel appliances
  • Wide, large porch with plenty of room to lounge
  • Room for 2 car parking

Price: $1,049,000

Taxes: $3,701.97/2017

Lot Size: 23.08 x 122 feet

Would you like a private tour of this home?  Give us a shout and we’ll make it happen!

Take a gander at all these gorgeous pics:

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