Steven  Maislin

Steven Maislin

Broker

RE/MAX Realtron Realty Inc., Brokerage*

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Office:
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Steven Maislin's blog

January 2022 Dear Friend,

January 2022

Dear Friend,

The Toronto real estate market set several records in 2021; 121,712 homes sold, the highest average selling price of $1,095,475, the most Realtors ever (almost 63,000), and the least number of homes listed on the market (3,232). As I predicted, 416 condominium prices rebounded in 2021 with a 16.8% price increase to an average of $730,792, an affordable number for many seeking to live in Toronto. These factors contributed to an overall 17.8% increase in home prices throughout 2021.

December 2021, Dear Friend,

December 2021,

Dear Friend,

With 9,017 sales reported, November 2021 became the most active November in the history of the Toronto Real Estate Board and set a record for the highest average price, $1,163,323, up 21.7% over November 2021. The average sale price year to date as of the end of November is $1,092,212, up 17.5 % since the start of the year.

 As I have been predicting, the 416 area code condominium prices quickly increase and are now 16.5% up from the start of the year. (21.1% in 905)

December 2021, Dear Friend,

December 2021,

Dear Friend,

With 9,017 sales reported, November 2021 became the most active November in the history of the Toronto Real Estate Board and set a record for the highest average price, $1,163,323, up 21.7% over November 2021. The average sale price year to date as of the end of November is $1,092,212, up 17.5 % since the start of the year.

 As I have been predicting, the 416 area code condominium prices quickly increase and are now 16.5% up from the start of the year. (21.1% in 905)

November 2021 Dear Friend

November 2021

Dear Friend

October 2021 Dear Friend,

October 2021

 

Dear Friend,

 

August 2021, Dear Friend,

August 2021,

 

Dear Friend,

 

Another busy month of sales as the Toronto Real Estate Board reported the sale of 9,390 homes in July, one of the busiest Julys on record.

 

Multiple offers continued to be the norm for well-priced properties as the shortage of homes available for sale has not eased. With only 12,551 new properties coming on the market in July, it remains a Seller’s market as there are less than 11/2 months of inventory of homes for sale.

 

July 2021 Dear Friend,

July 2021

 Dear Friend,

Another great month of sales as Toronto realtors sold 11,106 homes at an average price of $1,089 536. While many statistics are being bandied about, such as,” Average price is up 28% over the same time as last year”, these numbers are not relevant due to the impact of COVID-19 in 2020.

The critical numbers are the following:

February 2021 Dear Friend,

February 2021

Dear Friend,

Well, I continue to be amazed at the record-breaking sales we are experiencing. Despite an extended Covid lockdown and the news that the anticipated vaccine distribution is not going as smoothly as it should, public confidence in real estate values and the desire for homeownership is at outstandingly high levels.

January 2021 Dear Friend

January 2021

Dear Friend

Writer and philosopher George Santayana said, “Those who cannot remember the past are condemned to repeat it."  If you want to know why the market has been so active (prices up 14.3% this year) and what will happen to Toronto real estate, let’s look at the recent past.

December 2020, Dear Friend,

December 2020,

 

Dear Friend,

 

Another record month of real estate sales for the GTA and Covid 19 had nothing to do with it!

There are 5 major factors that are keeping the real estate market at record levels:

1.    Ridiculously low-interest rates (1.5%) attracting new buyers into the market who can now qualify to buy.

2.    A strong economic recovery for many business sectors.

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