Suzana Davies Sales Representative ®
RE/MAX Realtron Realty Inc., Brokerage*, Brokerage Independently owned and operated
Mobile: 416-843-7017

REAL ESTATE MARKET UPDATE MARCH 2018 ~ TORONTO/GTA

Dear friends, 

I must say, I was pleasantly surprised to see that the Toronto Real Estate Board members sold 5,175 homes last month. While it is less than last year, the first quarter of 2017 was a record time. I expected sales to be less than they actually were. A further indication of the demand for homes was the fact that with over 1,200 homes for sale, my company booked over 13,000 appointments and sold over 600 homes! Without question, some people lack confidence in the marketplace. We have sellers who believe prices will increase by May and we have buyers who believe prices will drop by May. They both can’t be right. The truth of it is that Toronto is a vibrant city that is growing and has a shortage of residential property. The proof is that rents, already at all-time highs, continue to increase. (Basement apartments in Newmarket are renting for $1400 per month!) 

Toronto prices will continue to keep increasing as there is a huge immigration into the city and a lack of new accommodation. This lull that we’re experiencing now is temporary and I think you’ll find that by April/May prices will start to rise again and multiple offers while still occurring, will have even more buyers bidding on properties.

There is little benefit to waiting. If you’re thinking of buying or selling or know a friend who is, I must strongly recommend that you purchase as soon as possible, while the demand is less. (We’re still getting multiple offers on well price properties). In the first two months of 2018 properties were selling at 98% of asking price, another indication of the demand for homes. 

I know it sounds self-serving and if you’re not sure whether to buy or not, let me share with you the information I have so you can determine the state of the market for yourself.

Have a great month!

Your friend in real estate 

Suzana ( Sue ) Davies 

Sales Representative ®

RE/MAX Realtron Realty Inc., Brokerage*

c 416-843-7017 

o 416-782-8882

 

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    *Independently Owned & Operated

Suzana Davies Sales Representative ®
RE/MAX Realtron Realty Inc., Brokerage*, Brokerage Independently owned and operated
Mobile: 416-843-7017

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 8/21/2018 6:41:50 PM