What Happened to GTA Real Estate in 2018? + Marilyn Denis Show Link

Hello! 

I hope you had a lovely holiday season and are having a great start to 2019. As for my holidays, they were quite relaxed, spending time with family and friends, and not working much for a couple weeks. It was some welcome downtime with it being a busy and successful year helping clients buy and sell real estate. Many thanks to those of you that choose me to help you, as well as those that recommended me to your family and friends. 

In 2018 I made a couple of appearances on the Marilyn Denis Show and I was able to set up a couple clients to be featured on the show as well, it was an exciting adventure! If you didn't catch the episode in October, I went home shopping with a couple of clients and joined Marilyn in studio to go over some tips for first time home buyers. If you missed that, you can watch here: https://www.marilyn.ca/Home/Articles/October2018/5-steps-you-need-to-know-if-you-re-a-first-time-ho?fbclid=IwAR1XasK5ZxMtxBAt2_u-coGgQoqCRV02RXfUnt1klK9GzERiNjFiSi2XHKY

So how was the real estate market in 2018? In short - it depends. I know, I know, what a cop out answer haha. But it does really depend on which area of the GTA you're talking about and which property type. Today I'll start with an overview of some of the numbers for the GTA as a whole, along with a historical comparison.

The Toronto Real Estate Board (TREB) reports on the areas across the GTA from Burlington in the West, out to Oshawa and Clarington in the East, with the areas just before Barrie as a Northern border. The overall average selling price for 2018 transactions, at $787,300, was down by 4.3% year-over-year for all home types combined across the TREB market areaThis was the first time since 1996 that the annual average sales price dropped year over year:


I'm sure there will be some conflicting opinions about what the data in the chart above means, and I imagine those interpretations could guide people to make completely different decisions in 2019. I don't find the 4.3% drop in average sales price for 2018 to be that concerning, in the context of the very heated couple of years leading up. The first quarter of 2017 was the peak of real estate mania across the GTA, with some of those early 2017 months posting average sales prices that were up 30-34% over the same month in the previous year. It was unsustainable but nobody knew just how long it would last. Then the government implemented a foreign buyer tax and other fair housing regulations on April 20th, 2017, which caused the market to shift drastically and prices to start dropping in a lot of areas. However, by the end of May 2017, there were already 
46,591 home sales, which ended up being just over half of all the home sales for the year. So the 2017 average sales price across the GTA was bolstered by these strong prices up to June, and that's what helped to keep it above the 2018 average sales price, in combination with the pretty flat year we've had. One figure that I didn't include on that chart, is the increase from 2008's average sales price to 2018's - there was an 82.5% increase in the last 10 years! 

I've charted the average home sales price by month, for 2016, 2017, and 2018. Notice the green peak representing the first quarter of 2017: 

Keep in mind that while the average sales price is generally higher in the peak spring and fall months for each calendar year, I wouldn't say that it means you should time your buying or selling around this typical trend. The reason I say that is because one school of thought is that during the peak spring and fall market months, there is generally an increase in very expensive homes being sold, which works to bring the average sales price for those months up. The timing of listing your house or buying would also be dependent on the current conditions in the area, for the property type you're working with.

To summarize 2018 with a broad brush, there were significantly less home sales across the GTA (16% less than 2017 and 31% less than 2016) and prices were pretty flat. As I mentioned at the beginning though, certain areas and property types performed well, while others saw a drop in prices and an increase in days on market. That's what I'll be looking at later this week in Part 2 of "What Happened to GTA Real Estate in 2018?" so watch out for that email.

Thanks for reading and if you're looking for real estate advice specific to your property or what you might want to purchase in 2019, send me an email.

Simon Tham


Should You Buy Or Sell First?

Should you buy your next home first, or make sure you've already sold your current home before buying?? The GTA real estate market has changed a lot in 2017 and the answer to this question may have changed with it.

Click the image below to watch the video.

 


Gorgeous family home in Lisgar: 3254 Fanleaf Drive

​Welcome to 3254 Fanleaf Drive- a spacious family home on a quiet street in the Lisgar community. At just over 2000 square feet, with 3 bedrooms (originally converted from a 4 bedroom floor plan), 2.5 bathrooms, beautiful ash maple hardwood in the living room, dining room, family room and master bedroom, skylights, a new roof and new patio doors,  and painted in tasteful designer colours throughout- it's the perfect family home. 

Fanleaf Drive is situated in a fantastic location walking distance to Metro, The Lion's Head and local shops, a five minute drive to the Argentia big box shopping center and restaurants, Lisgar GO station and highways 401 and 407. The home is also located in one of the most highly desirable school districts in Mississauga: St. Therese of the Child Jesus Catholic Elementary School and Plum Tree Park Elementary School. Priced at $639,900.

If you'd like to see the house in person visit our Open Houses this weekend on August 29th and August 30th from 2-4pm. 

Be sure to watch Melanie's hosted video tour of the home by clicking the photo below:

 

 

 

 


Just Listed in Churchill Meadows: 4028 Coachman Circle

This is a fabulous opportunity to buy into high demand Churchill Meadows! This property has been beautifully updated and maintained by the original owner and offers several unique features including an unusually wide lot (30ft) that allows for a spacious and open concept floor plan, an extended driveway that allows for 2 car parking, and a private backyard (no neighbours behind) with a natural stone patio and gas bbq line. 

This home also features 3 spacious bedrooms, hardwood staircases, and a gorgeous professionally finished basement w/ pot lights, wood floors, a cold cellar and a finished laundry area. 

Come by our open houses on July 18th and 19th from 2-4pm. Call Melanie or Lynne at 905-278-8866 to book a private viewing. 

View Melanie's hosted video tour by clicking the photo below. To see the full MLS listing click HERE

 

 

 

 

 

 


Stunning Townhouse in Churchill Meadows: 3089 Wrigglesworth Crescent

We just listed this beautiful townhouse in North Churchill Meadows: 3089 Wrigglesworth Crescent. 
 
This bright and sunny freehold townhouse is deceivingly spacious and offers large principal rooms and well planned space that's been impeccably maintained and renovated by the original owner.  There's 3 bedrooms and 2.5 bathrooms, a spectacular, professionally finished lower level (the owners spent 20k in 2014) with a 3 piece bath, large recreation room, abundance of pot lights, and quality laminate flooring. No neighbours in the front and a private backyard with no neighbours directly behind. There's garage door access inside the house and the extended driveway allows room to park 3 cars. Brand new Fridgidaire 'Gallery' appliances, new roof, new floors, no carpet anywhere in the house!  Freshly painted with designer neutral colours throughout. Excellent neighbours and location offering a rare community spirit in the immediate area. Move in ready, efficient and affordable to run! 
 
Priced at $489,900. Come by our open houses this Saturday June 27th and Sunday June 28th from 2-4pm or give us a call to book a private viewing: 647-389-8081.
 
To see the full MLS listing click here
 
View Melanie's Hosted Video Tour to see the entire house by clicking the photo below:
 
 
 

A Beautiful Bungalow in Credit Woodlands: 1404 Freeport Dr.

We just listed 1404 Freeport Drive, a quality Shipp built semi detached bungalow in the heart of Credit Woodlands. Within walking distance to Erindale GO Station, Riverwood Conservancy and the beautiful Credit River Trails, and minutes to the University of Toronto Mississauga campus, it's situated in a great location close to all amenities!

This home offers 3 bedrooms and 2 full renovated bathrooms, an open concept kitchen with a breakfast bar, hardwood floors throughout the main floor, and a gorgeous finished basement with new carpet and a den, rec room, finished laundry area, 4th bedroom, and full bathroom. 

The extended recently repaved driveway allows for 5 car parking and the backyard features a deck, garden shed and a garden area that's been lovingly maintainted with perennial flowers. 

Offered for sale at $489,900. Come see us at the open houses on June 20th and June 21st from 2-4pm and June 27th and 28th from 2-4pm. 

See the full MLS listing HERE

Click the photo below to see Melanie's hosted video tour:

 

       

 

 

 

 

 

 

 

 

 

 

 


Gorgeous End Unit Townhouse in Lisgar: 6123 Clover Ridge Crescent

We just listed this beautiful end unit townhouse on Clover Ridge Crescent. If you haven't been to the area before, it's a highly desirable part of Lisgar a short walk away from the lovely trails on Osprey Marsh (one of my favourite running spots), Sixteen Mile Creek and Johnny Bower park. This property is a rare find in Lisgar on a mature street full of semi detached homes with detached homes on neighbouring streets. 

Offering 3 bedrooms and 2.5 bathrooms,  a huge master ensuite with a soaker tub and stand up shower,  hardwood in the kitchen and dining area, a private extended driveway that allows for 4 car parking, new windows and roof, new stainless steel appliances and brand new carpet on the main and second levels, this home is absolutely move in ready and shows beautifully.  It's approximately 1614 square feet plus it has a finished basement with plenty of storage space. 

Priced at $500,000 . Come see us at the open houses this Saturday June 20th and Sunday June 21st from 2-4pm. 

To view the full MLS listing click HERE

View Melanie's hosted video tour by clicking the photo below:

 

 

 

 

 

 

 

 


Just listed in Glen Abbey: 2112 Lumberman Lane

We just listed this spectacular family home in the lovely community of Glen Abbey! This 2880 square foot Mattamy Carlisle Model has gorgeous curb appeal and is surroundby lovely landscaping, mature trees and interlock patio and walkways. The fantastic layout with a modified floor plan offers open plan flow from the oversized greenhouse kitchen through to the huge family room which features a wood burning fireplace and dark hardwood floors which are carried through to the impressive foyer and dining room. The living room is spacious and features double french doors which allow flow into the dining area and hallway and a bay window which has been updated with triple glazed windows (’12). The breakfast area is bright and sunny from the three skylights above (replaced in 2014) and the walk out to the gorgeous heated inground pool (new heater in 2015) with built in lights so it can be enjoyed even when the sun has set. 

The second level features 4 spacious bedrooms and stunning renovations in both the master ensuite and the main bathroom completed just this year. The master ensuite has a glass enclosed shower and stand alone tub along with a double vanity with marble countertops. 
 
The basement is finished with a rec room, games area, wet bar and pot lights throughout. An unfinished area offers plenty of storage along with a walled in exercise room and rough in for a full bathroom. 
Numerous upgrades to the interior and exterior make this a move in ready home! Priced at $900,000. 
 
Call Melanie or Lynne for more information or visit our open houses this weekend from 2-4pm on Saturday and Sunday. 
 
See Melanie’s hosted video tour by clicking on the photo below:
 
 
 
 

Just Listed: 3836 Coachman Circle

 

Priced at $489,900: This beautiful and spacious 3 bedroom, 2.5 bathroom freehold townhouse features beautiful hardwood flooring on the main floor, an open concept kitchen with brand new stainless steel appliances, and it has been freshly painted throughout. With a quaint backyard with mature trees, patio and gazebo it's a lovely prive space but the location also offers easy access to public transit, major highways and local schools. 

Come by the Open Houses this weekend from 2-4pm on Saturday and Sunday or give us a call to book a private viewing. 

View Melanie's hosted by clicking the photo below: