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Greetings!
As predicted the central bank increased the overnight rate by 25 basis points and the banks immediately followed suit and raised their prime rate to 3.95%. This marks the fifth time the central bank has raised the overnight rate since 2017. This will translate into slightly higher borrowing costs for home owners and experts are suggesting another rate increase may be forthcoming before the end of the year.
Tighter mortgage qualification criteria coupled with strong migration growth into the GTA, has prompted condominiums to lead the Toronto real estate market in 2018. Buyers who are looking to purchase a mid-rise or high-rise condominium are facing a highly competitive market, especially downtown Toronto. There continues to be supply constraints with new condominium listings both downtown and in North York as there are fewer active listings compared to the same period last year. Smaller units have become the norm in newer condominium developments, although we are seeing more end-users choosing to pay a little more to be in a larger unit in a low or mid-rise condominium.
This month be sure to enter to win Toronto Marlies tickets, review the monthly market statistics, and much more!
Alex, Elaine, and Otto
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| "Greater Toronto Area REALTORS® reported 6,455 sales through TREB's MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year.
New listings entered into TREB's MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs." |
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| | | | | | Toronto’s Housing Market Sees a Shift to Mid-rise Development |
| | "There’s a subtle shift under way in the Greater Toronto Area’s presale condominium market in 2018: As developers are launching fewer towering projects designed to woo investors, they are finding there’s still a strong market for people looking to pay a little more money for a larger, family-friendly unit in neighbourhoods outside the downtown core."
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| | | 10 Small Space Trends We Have Our Eyes On
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| | "These trends are just as stylish as they're functional. Try one or all to make your space feel bigger." |
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| | | | | | EXCLUSIVE Opportunity to purchase Assignment Condominium Unit for sale at the eCondos at 8 Eglinton Avenue East .
One bedroom with one bathroom on High Floor! 466 Square Feet of luxurious interior space top of the line appliances and finishes, plus 80 square foot balcony. This suite also includes upgrade package with glass stand-up shower and upgraded kitchen finishes valued over $7,500! Amenities Include: Infinity Pool, Party Lounge, State of the Art Fitness Center, Yoga/Boxing studio, Outdoor Lounge and more
Located at the North East corner of Yonge and Eglinton with direct underground access to the Subway/LRT. Steps to Yonge/Eglinton Center and shopping and restaurants along Yonge Street
Offer Price: $499,800 Tentative February 2019 Maintenance Fees $0.52 per Sq.Ft/month
Please contact us for questions and details. |
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EXCLUSIVE Opportunity to purchase Assignment Condominium Unit for sale at the Nobu Residences at 15-35 Mercer Street. Two Bedrooms with 2 Bathrooms on High Floor!
719 Square Feet of Luxurious Living Space with Top of the Line Appliances and Finishes. The Nobu Residences development is Sold Out and Unites were in the Highest Demand. Seller to receive $28K credit on closing. Ask L/A for details.
Located in Toronto’s Entertainment at King and John. Steps to King Street restaurants, Royal Alexandra Theatre, Roy Thompson Hall, Art Gallery of Ontario and the Bell TIFF Lightbox.
Offer Price:$899,800
Tentative Occupancy July 2022
Maintenance Fees $0.63 per Sq. Ft per month
Please contact us for questions and details.
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| Ultra Exclusive Fully Furnished Suite at the Coveted Tiff Tower!
Property Type: Condo Apartment Size: 1200-1399 Sq Ft # of Bedrooms: 2+1 # of Bathrooms: 2
Neighborhood: C01 Waterfront Communities FOR LEASE! |
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Ideal For Restaurants Or Retail Space With Excellent Street Exposure! Property Type: Commercial/Retail Size: 4,421 Sq Ft
Neighborhood: E04 Wexford-Maryvale FOR LEASE! |
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ThinkTorontoHomes, Royal LePage Terrequity Platinum Realty
293 Eglinton Ave. East, Toronto, Ontario M4P 1L3 Canada www.thinktorontohomes.com | info@thinktorontohomes.com |
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