Dennis Chan-Re/Max Goldenway Realty Inc.
15 Wertheim Court, Unit 309 L4B-3H7 Richmond Hill, ON, Canada

Taking the market turbulence and working it to the benefit of my clients!!! Another record breaking sale!

2021 Market Outlook according to the Toronto Regional Real Estate Board: Combined home sales reported through TRREB’s MLS System for the GTA, South Simcoe County and Orangeville are expected to reach 105,000. Strong sales growth will be supported by continued economic recovery, including jobs and record or near-record lows for borrowing costs. The pace of new condominium apartment listings will start to ebb, especially in the second half of the year. With low-rise list...ings remaining constrained, expect total new listings to come in at the 160,000 mark. Market conditions for low-rise homes, including detached houses, will remain very tight, with sales rising at a faster pace than listings. The overall average selling price for all home types and areas combined will eclipse the $1,000,000 mark for the first time, reaching $1,025,000 and representing a year-over-year increase of 10 per cent. While mortgage deferrals were initially a concern early on in the pandemic, Mortgage Professionals Canada does not anticipate any pronounced uptick in mortgage delinquencies that would create systemic concerns as we move through 2021. Most property owners who took advantage of mortgage deferrals did so out of an abundance of caution rather than financial necessity and therefore have resumed their regular payments. Hang on! 2021 is expected to be another strong year for real estate in the GTA!

January 2021 Market Stats January home sales amounted to 6,928 up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments, including condominium apartments, both in the City of Toronto and surrounding GTA regions. New listings were also up on a year-over-year basis in January, but not by the same annual rate as sales. This means market conditions tightened compared to January 2020, resulting in the con...tinuation of double-digit growth in the MLS Home Price Index and the average selling price. The average selling price for January 2021 was up by 15.5 per cent to $967,885 year over year. The MLS HPI Composite Benchmark was up by 11.9 per cent over the same period. Price growth was driven by the low-rise market segments, while the average condo apartment price was down in Toronto. However, if we continue to see condo sales growth outstrip condo listings growth, we could start to see renewed growth in condo prices later this year.

Assignment Opportunity Max Condo 81 Mutual at Yonge and Dundas Asking: $479,000... 1 Bedroom 440 SF West Exposure High Floor Occupancy: Mar 2021 Full cooperation offered to Brokers

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Despite an unprecedented year due to COVID-19, including necessary public health restrictions and uncertainty surrounding the economy, Greater Toronto Area REALTORS reported over 95,000 home sales in 2020 the third-best result on record. The average selling price reached a new record of almost $930,000. The next 12 months will be critical as we chart our path through recovery. In particular, the impact of resumption in immigration and the re-opening of the economy will be key.

The record pace of home sales in the fall continued with 8,766 sales reported in November which is up 24.3% vs. last year as buyers continued to take advantage of very low borrowing costs to buy single-family home. In contrast to the single-family market segments, buyers continued to benefit from much more choice for condominiums as the number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo... apartment market translated into a small year-over- year decline in the average condominium apartment selling price in the ‘416’ area. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets.

Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighbourhoods. In contrast, condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors.

Any idea on how to open the lock? LMAO

A new record for the month of September due to strong detached, semi and towns. The average selling price for all home types combined in September was $960,772 up by 14 per cent year-over-year. Improving economic conditions and extremely low borrowing costs sustained record-level sales in September, as we continued to account for the substantial amount of pent-up demand that resulted from the spring downturn.... However, it will be important to monitor the trajectory of COVID-19 cases, the related government policy response, and the impact on jobs and consumer confidence

Can you believe this home is on the market for sale? Maybe the listing agent should have a curb appeal discussion with the Seller! The green stuff in the pond is so nasty!