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JULY 6, 2009. TORONTO REAL ESTATE AND TORONTO HOMES FOR SALE.
It’s basically buyer whiplash
The first person who says “I told you so” deserves public scorn! I don’t believe anyone could have imagined that the Toronto Real Estate market would rebound with such flourish, and with such haste. June sales were phenomenal - average prices in the 416 are back to near-record highs at $441,000. Sales volume is also near all-time records with almost 11,000 properties changing hands in the month. This represents the best June on record, and frankly one of the strongest months we’ve seen in years.
This is not insignificant. At all. One a more human scale, what it means is that buyers are having to pay more - substantially more - than even a few months ago. It also means that the competition for housing has grown substantially, because the market simply isn’t flooded with “inventory”. In fact, quite the opposite is true. There’s a substantial and ongoing dearth of unique urban homes listed, which is frustrating and aggravating for today’s buyer. There were 30 percent fewer listings in June 2009 than a year previous. Frustrated buyers, you bet.
What this means for the market in general is pretty straightforward: if you have a great property that you have been looking to sell, now is a superb time. If you are looking to enter the market or “trade up”, be prepared to pay a premium over the types of deals that we saw in the winter. I’ll say it - this is now a seller’s market. Plain and simple.
The Toronto Sun profiles Paul Johnston in this recent article. Both properties at 91 Claremont have now been sold.
If you have been thinking about a modern home in the city, I’m delighted to announce there’s now an exceptional opportunity - Lippincott Living. This is the debut project by Blurredge Group, a collaboration between designers Cecconi Simone and architect Brad Netkin. Eight striking new homes bordering Kensington, Little Italy and the Annex, priced from $869,000 including parking.
It’s a great honour to be assisting this team in the sales of these fine properties. A showroom which includes a model home has been constructed to demonstrate the quality and thoroughness of the design. I would encourage you to contact me directly if you care to take a private tour.
In the meantime, enjoy the summer!
APRIL 25, 2009. TORONTO REAL ESTATE AND TORONTO HOMES FOR SALE.
Something Exciting is Going on….
Let’s put aside the statistics for a moment. Forget the sudden comeback of multiple offers and the endless debate
about emerging neighbourhoods (although if you’re interested, the finest resource of late has been the Globe and Mail’s property map).
Toronto is literally buzzing with changes that suggest excitement. From the larger scale initiatives to more modest community-centric investments, there’s a palpable and consequential change out there.
Zip along Toronto’s Gardiner Expressway and there’s still a sea of cranes - finishing the Bay Richmond Centre, breaking ground on the much anticipated M5V, swinging bits into Midtown’s Burano and transforming West Queen West with the Bohemian Embassy. Toronto’s waterfront is finally feeling exciting again, with Corus Entertainment’s building well underway and the upcoming rejigging of Queens Quay Blvd all but confirmed. Just wait until Tedco releases the next phases of the Donlands area. Or don’t wait, and explore Corktown (thanks to Streetcar Developments) or the slow march forward of the Distillery District.
The cranes also mark some very important social renewal. Whether it’s the expansion of St. Michael’s hospital with Li Ka Shing’s Knowledge Institute, the total re-imagination of Regent Park or the brand new social housing projects near King West and King East in the downtown core, this city is changing in meaningful ways. On the heels of th
e cultural building renaissance of the Art Gallery of Ontario, the ROM and the Four Seasons Centre we now await the Sony Centre and Bell Lightbox at Festival Centre. Not to mention Ryerson’s growing presence in the Yonge and Dundas area.
If it all seems like a lot - it is! This city is building again. And dreaming again: new TTC streetcars, a new pedestrian-friendly design for Roncesvalles and Jarvis Streets, the Wychwood Barns renewal, the Evergreen Brick Works coming back into use and a massive street furniture program that is finally showing some results. It’s bloody exciting.
Despite the ‘challenges’ of the last several months, there are important projects and changes afoot that will improve the city’s standing as a place to LIVE. Keep your eyes open today, and look around you. The cranes, the hoarding, the public consultations and the online blogs all point to a richer Urban Experience in Toronto. I’m bloody delighted to be experiencing it.
You have likely noticed the number of modern homes emerging in the city as well. Modern real estate is still somewhat new as a residential feature in the city, but I’m delighted to see new examples. If you are looking for a similar property - let me know. It would be my pleasure to be of assistance.
For more information contact:
Paul Johnston
Unique Urban Homes | Salesperson Right at Home Realty Broker | 416.391.3232 | 416.897.5480 direct
http://pauljohnston.com
APRIL 13, 2009. TORONTO REAL ESTATE AND TORONTO HOMES FOR SALE. What to make of this vibrant market? [column width="67%" padding="6%"] I've written and been interviewed at some length lately about the sudden surge in the Toronto real estate market. Now that the March sales figures have been released, statistics support my claims. It's getting busy out there! Sales volume is off only 7% in March from the year previous. Average prices are down by only 5%. That's a significant change from the downturn we experienced from September to January. It's a stretch to say we've come "off the bottom" with certainty, but it is true that buyers who have been sitting on the sidelines are starting to have to pay more. A blip, a trend or a recovery? We can't know for sure. But there's a problem! The an exceptional lack of unique urban homes - and a growing list of buyers who are increasingly anxious to find them. Where are the stunning lofts for sale? How about professionally renovated older homes? What about a few modern townhomes? The lack of quality inventory is alarming and especially distressing for buyers ready to make their move. I was recently interview in the Globe and Mail and spoke at some length about the pause in infill construction. That's especially concerning now that the few modern homes downtown have sold. Let's hope that some of the projects on the drawing boards get built soon, so that people looking for a truly unique property downtown have some options. [/column] [column width="27%" padding="0"]
The Toronto Sun profiles Paul Johnston in this recent article. Both properties at 91 Claremont have now been sold.
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If you are considering making a change, now could certainly be the time. Especially if you have been waiting for some signs of strength in the market - because they are here! If you have a unique urban home you wish to discuss, give me a call. It would be my pleasure to be of assistance.
I sell Unique Urban Homes across Toronto - from architectural homes, to designer renovations and properties of special character. i will find it or sell it. That what i do. Simply
It’s not about a house, it’s about your home.
If you've decided t
o buy or sell your home, you have made a substantial decision.
What you need now is someone to simply the task, help with the search, ease the negotiations, explain the myriad options and alternatives and not lose track of the main goal You - and your unique urban home
If you've been searching for that perfect Toronto home - a classic Victorian, elegant Edwardian, original loft, special condo or a place to re-invent as your own, I will find it.
I will find it, or sell it. That what i do.
Simple.
"We really appreciate all that you have done - you are an agent cut from a different cloth!"
"Thanks again for everything ... we were so fortunate to have stumbled across your website!"
"It was an honour to work with such a passionate person. You are wonderful."
"Having Paul represent me got me 15% over my asking price!"
"AHHHHHHHHHH!!!!! THANK YOU THANK YOU THANK YOU!!!!"
"We wanted to extend a deep appreciation and thanks to you for your professionalism, your commitment and support throughout this process."
"If I haven't ever said it, you're a good agent. This is particularly insightful, given that I am generally difficult to impress."
"You Rock! I just had to say it..."
"I honestly don't think we would have ever found and bought a house without you. Thank you so much."
"I have very much admired and appreciated your attention to detail and focus. Some agents prefer their clients to 'trust their expertise' rather than do the homework."
"I really love my house - you are the greatest agent ever!!!"
"I think you stand out in a crowd by providing the research, info and discipline that you do."
"I was very pleased overall with your level of service and degree of professionalism from start to finish."
"You're an amazing agent - what else can I say?"
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