Blog - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale
  • Bosley Real Estate
  • 26 May 2017

This week we had to order three extra bottles of water for the water cooler as it seemed everyone was spending an inordinate amount of time chatting about what to do next in real estate. We watched as the listings went down before the long weekend and as expected that resulted in lower sales last week. And as is typical after a long weekend the numbers of new listings jumped substantially thereafter. The trend we have been watching carefully is the number of sales that are occurring above their listed price.

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  • Bosley Real Estate
  • 19 May 2017

Dear Vancouver, we are wondering if what is going on with our market is the same thing you went through last year? You see, our listings continue to go up and sales have dropped off substantially. Yet the Toronto Real Estate Board just released the mid-May statistics and shared that in the first two weeks of May prices have gone up over 17% compared to the same time-frame last year. And you might want to sit down for this next stat, because the leader of the pack was none other than condominium apartments which increased over 28% in value over the same period last May. Now we should also point out that the average price of a detached home in the 416 has actually declined slightly from the end of April going down in value 1.8%. Condominium apartments did increase in value over the end of April, but to be honest at an increase of .2% it is basically a rounding error.

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  • Bosley Real Estate
  • 12 May 2017

As we settled into our sales meetings this week the topic of the day was definitely what was happening to the market and if the recent government changes have had the desired effect in increasing the affordability of housing in the city. Much of our conversation centered around the differences between the massive downturn in the market in 1989 versus the brief pause in the market we experienced in 2008. While admittedly none of us actually own a crystal ball, the general consensus was that these past few weeks will likely be a pause in the market and not a large correction as some Sellers are fearing and most Buyers are hoping for. What we may be seeing as a result of this pause is a move towards more realistic pricing and less of setting a low asking price and letting the market show us the true value. All the more reason to make sure you hire a Realtor that knows how to properly price and market a property.

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