Cameron Miller Real Estate
36 Distillery Lane M5A 3C4 Toronto, ON, Canada

Selling your luxury property? It's all about targeting your most likely buyerand giving them what they want. Here are five steps to get you started...

Alright guys, the April numbers are in and yep you probably guessed it - we’re in the red. But maybe it’s not as bad as you think.... In April, the number of sales were down to 2,975, a whopping 70% decrease from April 2019, while new listings were down just under 65%, this means demand fell a little more than supply. We still saw a 0.1% average price increase across the board YOY but if you compare it month to month, the average sale price in Toronto was down 9%, from $902,6...80 to $821,392. What does that mean? All the gains from Q1 2020 are pretty much gone. Semi-detached & townhomes lead the way in growth YOY (though still down month to month), while detached homes in the 416 took a hit, with almost a 8% decrease. Here is something to think about - the average price stat paints a picture of what is selling in the market. This is the best metric we can produce on a larger scale. But is this stat truly relevant since sales dramatically decreased 70% YOY? Maybe the better question to ask is - who & what is selling in this market? If the majority of sales are taking place in the starter home market or in the 1 and small 2 bedroom market, then, of course, the average price stat will be lower, since the high-end market and larger units are either not being listed right now or not selling. The true testament will be in the coming months - will the property market bounce back and be turbo charged with pent up demand as we come out of the woods with Covid19? Or, will Covid19 have a lingering effect causing more permanent damage to the economy? Stay tuned. All the best & stay safe out there!

As you're probably all aware, March was a month that saw two very different stories. The first half of the month was off to a record start, continuing to build up momentum from the strong January and February months which saw a rapid rise in both the number of transactions and sale prices. The first two weeks were so strong that if you lived in a cave and just came out to look at the sales numbers for the month as a whole, you wouldn't have thought anything was amiss. While Y...OY sales in the GTA were up by 12.3% and new listings up 3%, the 2nd half of the month actually saw listings fall 18.4% YOY. While prices soared another 14.5% this time last year (March 2019), the post-COVID-19 action resulted in a cooling of prices this year with only a 10.5% increase. The proof is in the pudding: COVID-19 has demonstrated a quick cooling effect on the Toronto real estate market. In the 416, detached homes led the way with a whopping increase of 25.1% YOY. The interesting numbers are in condos though, which saw a 4.2% increase in the 416 and a 0.2% decrease in the 905. It's evident that condos are taking the biggest hit from the spread of COVID throughout the city and province. The start of April will be interesting and we need to keep a close eye on whether or not the province will be able to get a handle on the rapid spread of COVID-19. If not, things could get interesting... For now, PLEASE stay home and PLEASE stay safe!

If you are a property investor or home owner then you're in for a treat looking at the Feb numbers for this action packed market. GTA YOY transactions increased by almost 46% from February 2019. Bidding wars were ferocious and bully offers were snatching homes off of the market within mere minutes of being listed. All of this action led to a YOY price increase of 16.7%. ... For buyers, the good news is we also saw new listings jump YOY for the first time in eons. The bad news is, they were only up 7.6%, which isn’t even close to meeting the demand in the marketplace. Condos took back over the lead position in price growth, with 905 Condos jumping 19.3% YOY, followed closely by 416 Condos at 18%. Detached homes remained strong coming in with 14% YOY growth in both geographies. With interest rates being slashed by 0.40% this week paired with the continuous demand of the market, be prepared for the market to get stronger as the weather warms up! Any inquiries, feel free to DM.

On February 10th 2019 there were 910 condos for sale on MLS for downtown Toronto (between DVP-Dufferin-Bloor-Lakeshore). Today, there are 774 condos for sale - a 15% drop in inventory. Needless to say, there was no New Year’s hangover for the Toronto real estate market. The already smouldering 2019 market completely caught fire in the first month of this decade. With YOY transactions up 15.4%, and the number of new listings taking a slight dip, we saw the largest jump in h...ome sale prices since October 2017 at 12.3% YOY. If you're planning on house shopping anytime soon it's critical you speak with your mortgage broker or bank beforehand to stay ahead of the game. DM me anytime for inquiries & questions.

The #s are in! Unsurprisingly, condos in T.O have continued to appreciate in value YOY since 2015. Take a look at how much the market has grown over the past 5 years. What do you think is going to happen in the next 5 years??