Which Toronto Condos Appreciated Most in 2017? Here Are The Top 10 …

Condos drove the 2017 housing market

According to year-end numbers from the Toronto Real Estate Board, over the calendar year, condo prices in the GTA rose a robust 23 per cent to an average price of $512,478 — nearly double that of detached homes, which increased 12.8 per cent to $1,098,951.

Therein lies the issue: With the average house price still topping $1 million, home buyers are increasingly seeking cheaper options. Prices for middle-market home types, such as Toronto townhouses and semi-detached homes, rose 16.5 and 16.2 per cent to $643,330 and $782,756, respectively.

“It is interesting to note that home price growth in the second half of 2017 differed substantially, depending on market segment,” says Jason Mercer, TREB’s director of market analysis.

“The detached market segment — the most expensive on average — experienced the slowest pace of growth, as many buyers looked to less expensive options. Conversely, the condominium apartment segment experienced double-digit growth, as condos accounted for a growing share of transactions.”

While the entirety of the market slowed overall in the last three quarters of the year, condos were least impacted, with sales softening 9.6 per cent. Detached home activity suffered from a decrease of 23 per cent, semi-detached 20.5 per cent, and townhomes slowed six per cent.

What’s more, the new mortgage stress-test rules will reduce home buying budgets by as much as 20 per cent. So, the flock to the most affordable housing won’t end anytime soon.

 

Which Toronto condos saw the greatest price growth?

But not all condo inventory is created — or coveted — equally. So, which Toronto-area unit owners saw the greatest returns? According to a past sales analysis by Zoocasa, condos south of Queen Street West enjoyed the greatest bang for their buck: nine out of 10 of those buildings, saw price-per-square-foot values surge more than 30 per cent.

Translation: If you purchased one of those units in 2016 for $400,000, you’re about $120,000 richer in equity today.

Check out the infographic below to see which Toronto condos increased most in value in 2017.

 


Tiny condo, no storage space? Valet service will store your stuff

A look at new tech startup Second Closet, an online storage solution recently launched by a 22-year-old entrepreneur.

Ready to give it a try? Use my Promo Code: https://http://try.secondcloset.com/LaurenFoley

Mark Ang is too young to have many skeletons in his closet, but he’s super keen on carting away whatever extra stuff you can’t fit into yours.

The 22-year-old Toronto entrepreneur came up with the idea for an online storage solution called Second Closet when he and his older brother David, 23, moved into a tiny condo in Liberty Village with very little closet space.

They quickly found out that not only was storage expensive, but the process of getting space was rigid. They had to deal with standard space sizes and minimum monthly rental fees — and there was no seamless delivery service between storage and home without the added cost of renting a moving truck.

“We were in a small, 500-square-foot condo with our Golden Retriever Riley, and the condo lockers were small, dirty and expensive,” he recalls.

His brother “had the bedroom that had one small closet because he was paying the rent, so I needed a place to store my things,” Ang says.

So the idea, and the name of the company, came to him quite naturally. And the concept is simple: they pick up your stuff, store it and return it to you whenever you want for as little as $3 a month.

“Ultimately, I wanted to do something myself to solve the problem,” he says.

But as every small business owner knows, the hard part is in the execution.

 

Stuck in a small space? Ask me for more great ideas to maximize your home! Ready to move onwards and outwards? Larger spaces at affordable prices still exist! You just need to know where to look ;) Call or text 416-419-8628 to be pointed in the right direction. 


Toronto Detach Fit for Royalty - Meghan Markle's Home is Listed for Sale on Toronto MLS

Well it's happening. Along with the announcement of Meghan Markle's royal engagement, comes the announcement of her Toronto Home being listed for Sale. The property's exterior seems anything but "charming" (pun intended) but the sparkling white interior shows true pride of the starlette's home sweet home. 

The 3 Bedroom 2 Bathroom 2-Storey Detach is listed for a cool $1,395,000 in the Annex with Freeman Real Estate. The Seperate Entrance to the finished basement is said to be how the future Duchess and Prince Harry were able to duck in and out in an attempt to avoid the paparazzi. 

There's no mention of the home's former VIP tenant, however the union jack pillows in the living area are a clever nod to Miss Markle. 

One can only imagine what type of bidding war this listing will attract. We'll be following this one!


Condo Rental Fraud - What Landlord Scamm­ers Don't Want You to Know

Many Tenants don't know that there is no cost to hiring a Re­al Estate Agent to help you find a rental property. Realtors are hired by Landlo­rds to find the ideal occupant for their investment property.

If you are looki­ng for a rental condo or house in the To­ronto, Etobicoke, Mi­ssissauga or Surroun­ding Areas, hire a Real Estate Agent to protect you.

Top 3 Reasons Tenants Should Hire a Real­tor to Help Find a Rental Property

1. To get a property on MLS, the listing agent needs to conf­irm the Identity of the Landlord to avoid fraud.

2. Your deposit (fir­st and last) is held and protected by the Real Estate Broker­age.

3. Early access to listings. Thiird party websites like Realtor.ca can take 24-72 hours to update. Which is why many listing you've called on have already been rented. 

 

Read the full story of the latest condo fraud report in the GTA https://globalnews.c­a/news/3890942/man-w­anted-condo-rental-f­raud/

RED FLAG: “He told me that he wasn’t checking cred­it, that he cared ab­out you as a person and not what your fi­nancial background was and that he just needed two references that were personal­,” Thomas said, addi­ng the unit was noti­ceably cheaper compa­red to similar condo apartments in the area."

Have a rental question? Call us for Professional, Verified Answers 416-419-8628


March Real Estate Update Report

Mississauga: 905-896-3333      Toronto: 416-762-4200
 
TORONTO REAL ESTATE MARKET update:     prices are up 14.9% - Market is strong!
 
Toronto Real Estate Board Members reported a record breaking 7,621 transactions in February 2016 - that's a 21.1% increase in sales compared to same time last year.
 
The new federal mortgage lending guidelings require at least 10% down payment on the portion of purchase prices between $500,000 and $1,000,000.
Despite the new mortgage rules, strong competition between buyers resulted in a growth in selling prices. The average selling price in the GTA was still up by a healthy 14.9% to $685,278.
Thinking of selling? think sutton staging!
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Thinking of Selling? Don't Just List Your Home for Sale, Showcase it With Sutton Staging!
Click the link below for 30% off paints and stains at Sherwin Williams. Try their featured colour of the month: Slow Green.

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Attention Investors: Looking for a new condo with a long closing? Sutton Group Agent's have VIP access to new developments. Simply showing my business card could get you some cool discounts!
first time buyers - what they are buying across canada
 
905 and 416 house price stats
Greater Toronto Average House Prices
 
 
Toronto House Prices
Thinking of Selling? Think Sutton! 

 
P.S.
Are you sick of scouring the paper and MLS sites looking for homes? Tired of playing telephone tag with agents only to hear the home's already sold? Sit back, relax and let me do the work for you! Whenever a home matching your criteria hits the market, it'll be automatically flagged and emailed to you so you'll never have to worry about missing your dream home. This service is free and there's no obligation! 
 
Not meant to solicit clients already under contract.

Calling All George Jetson Wannabes! Which One of These Futuristic Home Tech Solutions Would You Splurge On?

The Amazing List: 75 Smart Home Tech Solutions
 

Home tech is smarter than ever. The newest devices and apps are simplifying tasks, making better use of resources and trasnforming the way we live. 



Here's our top 3 of the latest in smart tech for the home!

  • Window Blinds: remotely control your shades and even automate schedules and configurations to save energy. Bali $360 baliblinds.com, Serena from $369 serenashaes.com and Hunter Douglas from $400 hunterdouglas.com
  • Thermostats: Nest learns your habits and programs itself to turn up the heat or down according to your routine $249 nest.com
  • Backsplash Display Screen: look up recipes online, watch cooking shows, or take a video call while sauteing. The Alno Kitchen Display can be fitted to most systems Contact alno-usa.com for pricing. 
     

Click here for the full futuristic list!


October 2015 Real Estate Update Report For The Toronto and GTA Housing Market

Toronto Real Estate Board President Mark McLean announced record home sales for the month of September.

There was a combined 8,200 home sales through TREB's MLS System, representing a 2.5% increase from September of last year. 

The first 9 months of 2015 amounted to a record breaking 80,331 sales in total representing a 9.55% increase compared to the first three quarters of 2014.

 

( if this is too much wording, click here to watch the video - we understand ;) 

We are on track for record home sales reported through MLS this year. Total transactions reported by TREB members in 2015 are expected to be at or near the 100,000 mark.

The MLS Home Price Index (HPI) Composite Benchmark, which accounts for benchmark home prices in communities throughout the TREB market area, was up substranially in September by 10.5%. Over the same period, the average selling price in the GTA was up annually by 9.2% to $627,395.

The number of transactions were up for all major home types, including a double-digit year-over-year increase in condominium apartment sales.

Low rise homes including detached, semi detached and townhouses continue to drive the average price growth during the final quarter. This suggests that competition between buyers will remain strong, and price growth is expected to continue through the remainder of 2015.


Murder Mystery At The ROM?! Toronto Events For The Month Of October

Toronto After Dark! Halloween Activities for the Month of October
 

Check out one of these Toronto Haunted Adventures!      

Looking for a unique way to celebrate Halloween on October 31st?  The Toronto Halloween Cruise is a spooky good time as you sail past the Toronto Harbour Skyline while sitting in Captain Hooks bar! Call to book 416-203-7245.

The Exhibition Place turns into Screamers Halloween Park from October 17- November 1st. Featuring six fear-filled haunted attractions, Screamers has horrors for even the most discerning tastes. Pay one price for all six attractions including the unlimited carvinal rides at the Field of Screams Midway. 

Halloween Haunt at Canada's Wonderland runs every Friday Saturday and Sunday 7pm - midnight. 1 Night tickets as low as $30.99. Upgrade to the Fright Lane and Skeleton Key and never wait in line! More info at www.canadaswonderland.com/haunt

Murder At The ROM - A Murder Mystery Scavenger Hunt: A curator has been murdered and a trail of clues left behind, connected to secrets in the collections. As you solve clues, you'll begin to piece together a tale of greed, lust, pride and revenge! Buy tickets here


Are you looking for a New Toronto Condo Investment – Here is a Look at our Top Pick

Are you looking for a New Toronto Condo Investment – Here is a Look at our Top Pick

Insider VIP Pricing for Minto Westside Condos at Front and Bathurst starting at $199,900.
  • Affordable Pricing
  • 2 Year Rental Guarantee
  • Plus Free Locker
 
  1. Redefining the intersection of Bathurst and Front
  2. Scheduled Occupancy January 2018.
  3. Steps to the Waterfront, abundance of shopping and dining. Work, Live, Play!
  4. Check out the Inventory in the Low $200,000’s
 
http://www.minto.com/img/templates/27/building_with_cntower.jpg

New and Resale Condo Department.   We help our investors as well with a Full Service Rental Department.
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