| |
We’re over a month into 2020 and according to Wiarton Willie @willieofficial, Spring is just around the corner. For those who are thinking about buying or selling this year, will you be ready for the Spring Market? The story that you will hear over and over this year will be about low inventory levels and high demand in Toronto. Where are all of the sellers? If prices in Toronto are getting to be out of reach for Buyers, what areas offer better value? If you’re thinking about buying, selling or investing in real estate this year, give us a call – we have answers to your questions and can guide you towards reaching your goals. In the meantime, be sure to enter to win a $50 Amazon gift card this month and have a great Family Day weekend!
Alex and Elaine
|
| | | |
How much wealth are you leaving on the table?
|
|
“Should I buy now or should I wait?” -- This is one of the most common questions I receive from both new and past clients.
It is not an easy question to answer, as there are many variables to consider. But if we look strictly at the numbers, without taking into account the added emotional benefits of owning a home, the numbers confirm, year after year, that if you plan on owning real estate for at least the next 4 to 5 years - you are financially better off to purchase now, building equity during that time frame, than to hold off buying and attempt to get into the market at a later date.
Allow me to explain with a current example:
You purchase a home to live in, placing a 5% down payment... |
|
|
|
|
2020 starts off with a bang for the Toronto housing market
|
| The new year has started off strong for the Toronto housing market, as the latest round of data reveals year-over-year prices have already begun a meteoric rise. The Toronto Regional Real Estate Board (TRREB) reports that home prices soared 12.3% in January 2020 to $8839,363 from January 2019.
“Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said TRREB President Michael Collins. “Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices.”
|
|
|
| | | Congratulations to Mary S. for winning the Google Home Mini last month! |
| |
|
|
| | Toronto Real Estate Market Report January 2020 |
| TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent compared to December 2019. “We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said Mr. Collins.
|
| | | 2020 Market Year in Review Forecast |
| This year’s report is all about planning for growth in the Greater Toronto Area and broader Greater Golden Horseshoe. The report’s subtitle is “The Time is Now,” and the contents within put the focus on planning for growth in the GTHA. In addition to recapping the overall market in 2019, you will find the latest data on the Greater Toronto Area ownership housing market, rental market and commercial real estate data. The information presented to you in this year’s report is full of evidence-based research and data that examines the key issues related to the region and our industry: housing affordability, dwindling housing supply, and transportation infrastructure. A must-read for anyone who is interested in the current state of the real estate market and what to expect for this year!
|
| |
|
|
Click here to continue receiving Toronto real estate market updates, homeowner tips, client discounts at participating home services partners, chances to win prizes, access to exclusive listings, investment opportunities, free seminar invitations and more!
|
|
|
ThinkTorontoHomes, Royal LePage Terrequity Platinum Realty
293 Eglinton Ave. East, Toronto, Ontario M4P 1L3 Canada www.thinktorontohomes.com | info@thinktorontohomes.com |
| |
|
