"Be careful not to compromise what you want most for what you want now." - Zig Ziglar
Hope July's off to a great start for you. Now that the first half of the year is behind us, and that we in Toronto (and in Canada) have won the first NBA Title, and that Kawhi has finally made his decision to be closer to his home town, we can now move on with our lives and be excited about what the remainder of 2019 has in store for us. The quote above is from one of our favourite authors Zig Ziglar. In simple terms, the message is all about staying focused on our goals as opposed to getting distracted by instant gratification. When people ask us how the real estate market is doing, our response is usually pretty simple: "It depends on what your real estate goals are". Market could be anything what you want it to be. Figure out what you want most out of your real estate goals and let's have a chat to achieve those goals, be it short term, long term, or somewhere in between.
Now that the busy Spring market is out of the way, June, as indicated last month, was a mixed bag. Average month-over-month price in the GTA was down slightly (0.7%). However, compared to June 2018, the Avg. Price was still up 3.0%. Total number of sales were down 11.3% month-over-month (usually a general trend from May to June) but up 10.4% year-over-year.
Avg. Price in Toronto, Oakville, and Mississauga continue to show signs of stability. We're noticing that 2019 is shaping up to be the year when the housing market in the GTA stabilized.
LUXURY OAKVILLE: Looking at Oakville's Luxury market (homes sold at or over $2 Million), we saw a total of 19 sales during the month of June with an avg. sale price of $2.6 Million and 44 Avg. Days on Market. Compared to this time last year, we saw a total of 25 sales with avg. price at $2.9 Million and 52 Avg. Days on Market. A bit slower June than last year but not significant enough to point the market in one direction or the other.
BOTTOM LINE: In a normal real estate cycle, July and August are usually considered quieter months with less sales activity and new listings. We believe that we'll notice the pattern play out this year as the market moves toward equilibrium. Click Here For Full TREB Market Report
Data Source: Toronto Real Estate Board (TREB)
New Condominium Projects
TRIDEL Edenbridge Kingsway
Edenbridge presents the opportunity to live in Toronto’s most beloved neighbourhood, The Kingsway. A prestigious collection of exclusive residences and garden townhomes, the ascending nine storeys condominium is wreathed by gorgeous greenspace and quiet opulence. Connect with us for Exclusive Early Access Prices and Floor Plans
XO Condos by Lifetime Developments - Liberty Village
Stunning architecture collides past and future at a bustling intersection where iconic neighbourhoods intersect. Traveling pedestrians and charming streetcars whiz through the amenity-filled streets surrounding your home. A neighbourhood of popular restaurants and bistros, coffee shops, galleries and community-owned independent retailers, gives King & Dufferin its profound and exciting vibe as a place where people choose to live, work and play. One of the very few pre-construction projects in the core still offering $1,000 Per Square Foot.
Location: 1221 King Street, Toronto (King and Dufferin) Storeys: 14 Units: 297 Condominium Suites Architect on File: Turner Fleischer Architects Inc. Interior Designer: Tomas Pearce Interior Design Consulting Inc. Status: Pre-construction Incentives Highlights: $5,000 to $8,000 of Credits on Closing
Have a great rest of your July, and as always, don't hesitate to reach out to us if you have any questions or would simply like to discuss how the market's doing around your area, neighbourhood, or street.