As Toronto weather heats up as we enter into warmer months, the housing market continues its adjustment to higher borrowing costs. On the other hand, prices in some property sectors, luckily for buyers, had the opposite effect, and have cooled.
Based on the trends in the April housing market, it seems as though the Bank of Canada is slowing consumer spending as it fights high inflation. A spike in mortgage rates has left some buyers wary of purchasing immediately, and instead wait on the sidelines to determine how they will reposition themselves in the market given the rising rate and affordability.
There was a staggering 41.2 percent decrease in real estate purchases compared to April 2021, and this decline was highlighted particularly in the detached housing sector in the ‘905’ area. As affordability of detached properties slips out of some buyers' grasp with the interest rates increasing buyers will pivot into the townhome and condo sector.
Buyers! A page is turning for you! The market is less competitive now, and will likely stay in your favor for the next approaching summer months. If you were considering purchasing, don’t wait.
Sellers! Not to worry, we are still seeing quite a bit of demand in the GTA, but it is important to have realistic expectations going into the process with the help of a real estate professional. The trend over the past years of intense bidding wars is for the most part done at the moment. A strategic game plan is key.
May 24 weekend. . . so we meat again!!
We're curious! What are you cookin' up this weekend? Here are our top 4 creative and delicious bbq ideas for the long weekend, including veg and a vegan option too!
1) Lamb Burgers
These Greek(ish) lamb burgers are one of our favorite recipes. We're particularly fond of putting feta yogurt sauce on top, so we slather it on both sides of the bun. If you end up with any leftovers, it's a perfect dip for raw veggies or pita chips. If you have a charcoal bbq, a bonus for extra flavor!
2) Mahi Mahi tacos
Being a meaty, tender fish, mahi-mahi stands up well to the grill and is even better when marinated. Use a mayo-based marinade that adds some richness and a ton of
flavor. Throw the fish on a tortilla with some spicy pineapple-jalapeño salsa and you'll have an amazing BBQ meal!
3) Cauliflower Steaks for vegans
These are a completely healthy and delicious way to cook cauliflower on a grill. Seasoned with lemon and fresh herbs, this will quickly become your new favorite cauliflower recipe! Make sure to mix parsley, garlic, lemon zest, and tahini for a tasty sauce!
4) BBQ Jackfruit (resembling pulled pork)
This super easy recipe resembles pulled pork and it is simply delicious for all vegetarians reading! No BBQing is necessary, simply shred jackfruit in a bowl, mix in some homemade bbq sauce or your favorite store-bought, heat a skillet with sliced onion and salt, and simmer on low for 20 minutes. Once done, serve on a bun with slaw and pickles! Best served in the sun with friends!
In March 2022, finally, there was a slight change in long-term trends with listing inventory, take a look at our top 4 creative garden projects for those with balconies looking to garden this spring!
In March 2022 there were 11,000 properties reported sold, capping off the third-best March recorded, and a 30 percent decline compared to March 2021. Tight market conditions continued to boast an average selling price of 1.3 million. Despite market conditions remaining tight, new listings were slightly down, which meant less competition. Buyers will be happy to hear property prices across all segments have cooled down. This is due to two reasons, first, mortgage rates recently increasing, and second, a slight increase in the number of listings in the GTA, swaying the regular seasonal trend.
Taking a look specifically at the condo market, we've seen an increase in the number of listings which has provided some relief to prospective condo buyers. This relief is slight though, as there still are intense bidding wars and offer nights --yet the competition certainly is not as severe as in previous months in January and February when inventory was significantly lower.
Taking a closer look at the freehold market, increased mortgage rates have slowed down the detached housing segment. Yet, townhomes remain in high demand and have not slowed down, given that they are the most affordable option.
To that end, now is the time government must focus on measures that are proven to increase the housing supply. The Federal government has added many new regulations including but not limited to FHSA. Home Buyer's Plan, Home Buyer's Tax Credit, and GST/HST on Assignment Sales. To learn what this means for you, please schedule a call with me to discuss the details further!
DIY Gardens for balconies and backyards - Making small spaces GROW!
1) Convert an old ladder into a chic Garden Shelf in your small garden. Have an old ladder hung about that you were planning to toss? Give it a fresh coat of paint or leave it as is for an adorable garden shelf to stack herbs and flower pots.
2) Grow sprouts that are delicious and nutritious
What are sprouts? Sprouts are microgreens that are baby plants. A popular type of sprout is a mung bean. Sprouts are high in many vitamins such as magnesium, potassium, and calcium and are super easy to throw into a salad. Simply soak in water for 8 hours, place it in a dark cool space for 3 days, then bring it out on your balcony for a little sun to complete the loop and enjoy!
3) Create a succulent container garden
Growing a succulent container is easy and immensely satisfying. Having evolved in some of the world's harshest conditions, succulents are vigorous plants that require very little water. Make sure to choose a shallower container! And to have a "cactus or succulent style" soil. Watch as they grow, with very little maintenance.
4) Simply grow easy low maintenance veg in containers.
Here is the easiest veg you can grow on your balcony. Beans, Grow them in 10-12 inches deep pots and a trellis-like structure for support since they are climbers. Tomatoes are easiest to grow in medium containers for balconies with loads of sunlight. Lettuce is good to grow in a wide planter and can be trimmed and harvested multiple times per season!
In February, signs of a more balanced market showed its colors. As spring approaches, so does spring cleaning. Read below for 5 creative, easy, and cheap household hacks that will save you loads of time and money!
GTA real estate showed a change this February 2022–new listings dropped, modestly, but nevertheless, this pointed us to signs of eventually a more balanced market! Great news for first-time homebuyers. Although this slight drop was not significant, there was a 16.8 decrease in sales compared to last February, GTA realtors reported 9,097 to the Toronto Real Estate Regional Board. This reduction was particularly in the housing segment, in the condo apartment segment sales were up from 2021. Decreased sales statistics should be highlighted for those buyers looking to buy a home who had been holding off on buying on the grounds of inflated market conditions because there is far less competition at the moment, likely resulting in a better chance of getting a unit without competing by strategizing your approach. Those who have been holding off, should not wait to seize this opportunity.
Sales are forecasted to be lower this year, creating less competition, but likely a trend toward higher borrowing costs will have a moderating effect overall. The Bank of Canada increased its key rate by 0.25%--overall this should not make a big difference in the prices in the market at this moment but it may balance out parts of the sectors within. Substantial immigration levels and lack of supply, however, will have a countering effect on increasing mortgage costs. The average selling price for all homes combined in the GTA was up 27.7 percent to $1,334,544. This may seem like a notable increase, yet we have seen a slight balance in the market in 2022 so far, with sales dipping more than new listings. Since inventory is low, it will take some time though for the pace of price to slow. Good news for prospective buyers in 2022!
This month we also take a closer look at the trends in Durham as more purchasers are looking into options further outside of the GTA.
We’ve been in the real estate game for a while now and have seen our fair share of property listings. . .Take ten seconds to learn about these cheap and easy household hacks that will make spring cleaning an absolute breeze! Or if you’re planning to prepare for a showing, these could help!
Use a rubber band to remove stripped screws
Are you having a hard time removing stripped screws? Sometimes even with an electric drill, they are impossible to remove. It’s quite simple to get them out, actually. Take a household rubber band, place it over the stripped hole before screwing, then go ahead and unscrew. The rubber adds extra friction to safely remove.
Clean your Microwave with little effort
Let’s be real, we should all clean our microwaves more. But, it is admittedly annoying to take out all the pieces and do it. Instead, try a self-clean method. Place equal parts white vinegar and water into a microwave-safe bowl and simply put on for 7 minutes. Once the liquid starts to evaporate it will loosen up any grease on the walls. Then, wipe with a paper towel and your microwave will look brand new.
Use coca-cola to clean your toilet
Coca-cola is an excellent cleaner because of its citric acid levels! All you need to do is pour a small can or bottle of regular coca-cola into your toilet bowl, leave overnight, and let it do the rest!
Quiet squeaky floors with baby powder
Do you have squeaky older floors? It is likely due to small pieces of wood rubbing together. Easy solution for this, pour a bit of baby powder on your wood floor to stop this, wipe away, and there you have it! Clean the excess and no more squeaks!
Repair small holes in your window or door screen with clear nail polish
This is especially important as warmer months approach to keep out fruit flies and pesky mosquitos. Brush a few dots of clear nail polish onto the screen and it acts as an invisible glue!
When it comes to the current real estate market, time is of the essence. If you are ready to actively start looking for a property it is critical to be in the know. An essential part of that is receiving automated property updates that match your needs. This will ensure that you are always the first to be notified of new properties hitting the market and don't miss out. Contact me today to set up your custom property updates.
Take a look at the January 2022 market update, then don't miss our top five picks for Valentine's Day activities with your partner, your kids, your furry friends, or solo!
Demand for ownership housing remained very strong in January 2022, but not surprisingly listings remained in short supply, resulting in tight margin conditions and high price increases year after year.
Sales were down 18.2 percent compared to January 2021, yet it was still the second-best month for sales in history for the month. Active listings at the end of January were down a shocking 44%, this is the lowest level in more than a decade. The average selling price is up 33.3 percent year over year to $1,242,793.
Love is in the air. . . whether you're spending Valentine's with your significant other, with your kids, your furry friends, or heck! Even alone! (it's 2022 people, we all need some self LOVE). It is a day to celebrate all things romantic.
1) Visit the Light Festival at the Distillery District and put a lock on the Love Lock installation
What better way to heat up some romance than by getting a bit chilly first and walking around the classic cobble-stoned streets of the Distillery District surrounded by beautiful light art? Count me in. A visual and playful adventure, the Distillery is adorned with light installations, sure to engage the senses. After taking a stroll and soaking up the lights, lovers lock in their love by placing "love locks" on the distillery's LOVE installation. Also, for the more adventurous folks, check out Go Tours and rent a segway for the optimal ride!
2) Take your kids to a hot chocolate festival at STACKT Market
An evening of delicious wintery treats, yum. What better way to show your kids you love them than with some sugary chocolatey goodness! STACKT market, located in downtown Toronto, is a cluster of ultra-cool shipping containers converted into small businesses. Food vendors will be selling varieties of Hot cocos and Smores for your loved ones!! Say no more!
3) Take your furry pup to a single's Valentines pub night at Black Lab Brewing!
Located in the East Toronto core, this innovative and inclusive brewery invites you to bring your Pup and to sit back, relax, and mingle with other furry friends and singles in the area! Pick up some puppy gear and craft beers made in-house at their shop after! Woof!
4) Treat yourself to a spa day at Body Blitz Spa for some TLC
With two locations on King West and Adelaide West Toronto, Body Blitz is a fabulous way to show yourself some self-love. Scrub yourself clean with their various indulgent scrub treatments, lay back, and take a load off in their saltwater pools. Take an ice dip followed by a hot tub for a hot-to-cold experience! Let go of tension with a luxurious massage or mud mask.
Have a great Valentine's Day to all!
With market conditions showing no signs of loosening, there has never been a better time to sell your property than now. Let us show you how to get top dollar for your property in the GTA to put money in your pocket!
Get your home evaluation done by an award-winning agent on our team. YES, we are REAL people. Click here
The most widely seen trend of the GTA housing market in 2021, and this cannot be stressed enough, is the lack of real estate inventory. This lack of inventory creates tight market conditions, and with buyer demand showing no signs of ceasing, and borrowing costs at an all-time low adding fuel to the fire, buyer competition is very hot. This pushes housing prices up and makes it difficult for buyers to purchase, as bidding increases.
It is of the utmost importance going into 2022 that buyers have the right representation to navigate this difficult market! Skilled negotiation and getting professional help in finding the ideal property efficiently and quickly, must be crucial for buyers in the GTA market. Choosing the right agent who puts your needs first as their valued client long term is essential to put dollars into your pocket and is absolutely crucial to guide you on your real estate journey in this fast-paced market!
Demand for housing ownership sustained a record pace in 2022, 121,712 sales were reported, up 7.7 percent from the previous high in 2016. A sales trend that highlighted itself in 2021 compared to the previous year was the resurgence in demand for homes within the City of Toronto. The popularity of homeownership in the “416” area code shot up substantially compared to growth in the surrounding Greater Toronto Area. With the average selling price at $1,095,475, first-time home buyers' chances may seem grim.
Moving on; it is that time of year! I hope you'll have a ball this Super Bowl Season!! Get what I did there? Yes, Super Bowl LVI is looking a bit different this year with bars closed... do not fear, take-out wings are still delicious! Take a look at the TOP wing joints in Toronto that always touchdown. . .
With three locations in the Toronto area, one in North York, one Downtown on College Street, and one in Maple Ontario, Duffs is a classic wing spot that never disappoints. This 50-year-old wing institution is most well known for its Armageddon-level hot wings! Spicy!
2. Crown and Dragon
This iconic wing joint located at Yonge and Church, has repeatedly been voted the best wings in Toronto. Known for their signature flavours, Dragon Breath, Holy Habanero, Buffalo Butter, Key West, Perri Perri, and Roadside Lemonaide (Roadside what??). Some other awesome things to know: if you spend more than $50 you get free nachos. On Tuesdays, Thursdays, and Sundays, if you order 4lbs of wings you get it for the price of 3lbs. Yum!
3. Fire Wings
Fire Wings, located in Etobicoke, takes the cake for having the most wing flavours. With over 130 wing flavours, ranging from saucy and creamy, dry-rubbed, backyard bbq, and various fired-up wing flavours, this restaurant definitely has a wing flavour for everyone. If you'd like to be eclectic at home this super bowl season, try some flavours you never had before!
4. Onnuri Chicken
Looking for finger-licking good Korean chicken wings? Say no more. Onnuri chicken located in Scarborough has the most delicious fried chicken wings. Pieces are always big and juicy, perfect for a night in. . .
5. Hogtown Vegan
Shout out to all you vegans or vegetarians out there who still have a soft spot for wings on Super Bowl! Not to fret, Hogtown Vegan serves up some fabulous "un-chicken wings", crispy fried vegan wings made from soy protein that mimics meat well. Your choice of bbq or dry cajun served with vegetable sticks and dip. Also recommended are the chili cheese fries, delish!
As we move into 2022, if you would like to know what your property is worth or what your area is currently selling for, reach out and let's chat! Start your search HERE and catch me on social media.
Ah December, the last month of the year, and for many the most joyful month of the year. Can you believe 2021 is almost over already?! Warmest holiday greetings from Residential GTA this season!
First, down to business, let’s take a look at the November Market update showing some economic recovery, yet sustaining affordability challenges. Up next take a look at our top picks for the GTA’s trendiest festivities this season whether you are celebrating with loved ones or spending the holidays solo–there are awesome holiday activities for everyone!
The inherent supply issues across all home types in the GTA continued to present themselves in the month of November 2021 and demand did not cease. Average home selling prices reached a new all-time high, and new listings were substantially down by 13.2 percent year-over-year.
The average home prices for all home types combined sit at $1,163,323, an astonishing jump up by 21.7 percent from November 2020. The salient difference between this time last year is that the condo segment continues to experience an accelerated price growth, particularly in suburban regions. This exhibits some economic recovery, with first-time homebuyers moving back into the market in an impactful way.
Governments at all levels must take action to increase the market supply immediately to match demand. This is necessary, the GTA remains the primary destination for new immigrants and is the heart of Canada’s economy. To that end, it is vital that governments cease to focus on short-term policies, and instead narrow in to make a genuine change to streamline the approval process and incentivize mid-density housing.
This month we're capping off with the Top 3 things to do with families this Christmas season in the GTA
#1 Toronto Christmas Market
Where do I begin to describe Toronto’s most iconic Christmas activity? Located in Toronto’s Distillery District, the Christmas Market features a series of small and cute vendors serving festive drinks and food. The market scene resembles an old European-like street, made from cobblestone, and a mirage of alluring Christmas lights and art adorns the magical market. Hot chocolate and Ferris wheel for the kids, heated fire pit drinking area serving mulled wines for the parents. Couples looking for a romantic, warmly lit date night complete with a gorgeous massive Christmas tree? This is the perfect spot for a kiss under the mistletoe.
#2 Cut your own Christmas Tree at Albion Orchards
At this family-friendly farm, you can cut your own tree (or buy a freshly cut one) plus pick up goodies, preserves, gift baskets, and hot apple cider at the farm market. Staff is on hand to assist you on weekends only. Located just outside Toronto, in Caledon, customers have the choice between choosing their perfect tree between multiple tree types: Balsam fir, Canaan fir, Fraser fir, White spruce, and Blue spruce.
#3 Ride the Royal Botanical Garden Express and see the Winter Wonders show
Toot-toot! Take a mini train ride on the holiday-themed Royal Botanical Express train at the Royal Botanical Gardens in Burlington! Open daily from November 24-January 9, every day 10 am - 3 pm. A perfect activity for young children! After that, also feel free to explore the Winter Wonders garden every 5 pm - 10 pm to reveal the magic of the night through nature and light. This unique experience guides its guests through Hendrie Park, where there are 7 different festive light show installations!
Top 3 things to do if you’re single (and ready to mingle) in the GTA this holiday season:
#1 Skating at Nathan Phillips Square & The Porch Toronto
If you’re looking to meet someone, go for a solo skate or just bring a friend, skating at Nathan Phillips Square will always be a Toronto favourite. Located in the heart of downtown Toronto steps away from City Hall, skating is a great way to get the endorphins flowing for a super fun night! The lights are breathtaking and this year there are ice sculptures that light up the night even more! Another option if you are one to enjoy skating is taking a “sky skate” at the Porch Toronto. Imagine skating outside on a roof surrounded by a party, right downtown, and look up to see a sky of lit-up buildings and the CN tower while your new favorite song plays in the background by the DJ. . . enough said!
#2 Go for a drive around Caledonia Road to look at the eccentric residential Christmas decorations!
What better way to have an absolute hoot, with a low budget! If you have a car or know a friend who does, this is a MUST!! All you do is put on some cozy clothes and drive slowly (and mindfully) down to Caledonia Road, a known Italian and Portuguese neighbourhood, and enjoy some of the locals' way-over-the-top Christmas lights. As pictured below, some are quite wonderful and extreme, and will totally be a great holiday Instagram post to show your friends! Located in Toronto’s West end right after Landsdowne Ave, some good lights have been seen just south of St. Clair. . .
#3 Hit Miss Things in Parkdale for a Snow Globe Cocktail
If you can believe it or not, you can drink a snow globe this season at Toronto’s iconic Hawaiian-themed bar, Miss Things at their Aloha Pop-up bar. A great and quirky date spot that makes you feel like you're on a tropical vacation, Miss Things never disappoints. A portion of the proceeds from the kitschy cocktails goes to a good cause, the Parkdale Community Foodbank. The Little Snowflake Cocktail, the snow globe-inspired drink, features a little marshmallow snowman and liquors mimicking snow! Simply adorable!
Whatever you do this holiday season I hope it's filled with Love, Happiness and Joy! Even though the year is coming to an end the Real Estate Market doesn't take holidays so if you are considering selling or buying in the future contact me today. If you're looking to get the latest listings or sold information, visit my site today.
Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!
You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.
We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.