How Much Do Toronto Homes Really Cost?

Buying a home? Click here to search all homes on the MLS 
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation
Hello everyone, welcome back. Today we're talking about the latest headlines in Toronto that claim the average home in Toronto costs $1 million. Where are these statistics coming from? We're not quite sure, but we do want to provide you with the real average prices in different areas of Toronto, and it should help to explain how people are coming up with that figure.

In West Toronto, from Steeles down to the lake, the average price of a home is $534,157. The highest priced neighborhood in this area is Stonegate Queensway, with an average price of $778,000.
In East Toronto, from Victoria Park to Rouge River, the average price is $512,721. The highest priced neighborhood is South Riverdale, where the average home costs $709,754. 
Finally, in Central Toronto, with Differin to the west, and Victoria Park to the east, the average price is $757,272.

The highest priced neighborhood here is Lawrence Park North, where an average home costs $2,115,887.

We hope this puts a clear perspective on the recent news. While most areas in Toronto are priced well below the $1 million mark, there are neighborhoods, like Lawrence Park North, where the average price is so high, it brings up the averages of the other neighborhoods.

If you have any questions for us, we would be glad to help out. Give us a call or send us an email, and we will be in touch soon.

Are You In Need of Real Estate Advice this Spring?

Buying a home? Click here to search all homes on the MLS
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation

I'm expecting a very busy spring market in Toronto, and today I want to offer you some advice. 

• Low interest rates in 2015 are going to spur a lot of first-time home buyers into our market. If you lock in a low rate right now, you would be in a very good situation for years to come. 
• The absorption rate is currently at 27%, which means that you have a 27% chance at getting the home  you want in Toronto. This rate has dropped from 50% in previous years, but 27% is a very good absorption rate for any real estate market. 
• Mortgage lending has not loosened the way that we have expected it to. However, we can find you good financing, with access to 40-50 different lenders. 

If you're interested in buying a home in Toronto this spring, please contact me and I would be happy to consult with you so that you can find a home that suits your needs. 

What Does a Strong Market Mean for Your Home Value?

If you're a prospective buyer in the Toronto area, Click here to search all homes on the MLS, or if you want to place your home on the market, don't hesitate to obtain a free home value estimate. If you have any questions, or need any preliminary information about the Toronto real estate market, feel free to contact us at (416) 438-2536

Recently, the Toronto market has been doing quite well. We've seen a steady growth in home prices over the last 18 months and prices jumped an average of $27,000 in September alone. Since this time last year, prices are up over $50,000 to an average of $573,676!

Our vibrant market saw over 8,000 sales last month, outperforming September of last year. It's as simple as supply and demand - the number of available homes is just below the demand for them. There are currently 19,000 active listings, and one in every 2.4 listings is selling in only a month. This means we are absorbing 42% of inventory monthly, which is putting upward pressure on home prices.

Looking short term, it appears our market will continue to grow. Low interest rates, high public confidence in the economy, and a new mayor are all great signs for the future of real estate in Toronto. If you would like to learn more about current market conditions, or have any questions about real estate in general, don't hesitate to give us a call. We would love to hear from you.

April 2014 Toronto Market Update: Buyers, Be Prepared for a Hot Spring Market!

Buying a home? Click here to search all homes on the MLS

Selling a home?  Click here for a free home value estimate. 

Call us at (416) 438-2536 for a FREE home buying or selling consultation

Welcome to my new video blog!
With this new blog, I will be sending you updates twice a month in regards to the real estate market in Toronto, and answering any of your real estate questions. My goal is to provide you the best education in regards to our market so that when we work together, our transactions will be successful.

Let's Run the Numbers.
With our February numbers coming in, it is safe to say that numbers are up all across the board! From February 2013 to February 2014, we saw a 2.1% increase in sales and an 8.6% increase in average home prices. It is clear that sellers have been benefiting from a stronger market, but buyers shouldn't lose heart – our spring market is gearing up to work in your favor!

How Does this Affect You?
Toronto’s real estate market is soaring – our active inventory is up almost 30% from last month and we don’t expect it to slow down. With spring arriving and the snow leaving, the market will soon be saturated with sellers, and with so many options, buyers can bargain for better prices. However in such a competitive market, you must prepare yourself by watching my videos every two weeks. I will not only keep you up to date, but I will also provide relevant tips in regards to home buying and selling!

Let's Work Together!
If you’re looking to buy a home, please feel free to give me a call at (416) 438-2536 or send an email to aldo@getaldo.com. Thanks! I hope to hear from you soon, and have a great day!