9 01, 2020

Toronto home prices rise further in 2019

The city can “expect further acceleration” if nothing is done about the city’s undersupply of new homes, TREB says.

Toronto home prices rise in 2019. Snow covered rooftops of homes in Leslieville, Toronto

The Toronto Real Estate Board says home sales were up 17.4 per cent in December compared with the same month last year, while the average price was up almost 12 per cent in the month from a year earlier.

The December jump caps a surge in activity in the second half of last year, while a slower first half meant that overall 2019 sales were in line with annual medians for the decade.

The increased sales over 2018, even as new listings dropped 2.4 per cent year-over-year, helped push the average selling price for the year up by four per cent to $819,319. The average selling price in December was $837,788, up 11.9 per cent from a year earlier.

“We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year,” said Michael Collins, president of the Toronto Real Estate Board (TREB).

“As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year.”

The region continues to struggle with an undersupply of housing, said Jason Mercer, TREB’s chief market analyst.

“Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front,” he said in a statement.

For the year, condos saw the biggest price gains, up 6.4 per cent to an average of $587,959 compared with 2018, while detached home prices were up 0.9 per cent to an average of $1.02 million compared with the previous year. Condo sales activity was up only three per cent overall last year, while detached home sales were up 18.8 per cent.

For December, detached homes actually recorded higher price gains, up 11.6 per cent in the month to $1.05 million as sales were up 26.2 per cent from a year earlier. The average condo price was up 10.4 per cent to $612,464, while sales were up 6.9 per cent.

source – The Canadian Press, with a file from HuffPost Canada

20 11, 2019

SOLD! 66 Sonneck Square – Guildwood

Congratulations to our buyers for purchasing 66 Sonneck Square, a beautiful family home with a private, treed lot.

66 Sonneck Square, Toronto.

This Guildwood home is a short walk to South Marine Park overlooking Lake Ontario.

22 10, 2019

Thurston Olsen Toronto Real Estate Update Q3 2019

The Fall Market is in full swing! We hope you’re enjoying the beautiful fall foliage and keeping cozy as you start to bring out your favourite sweaters! To keep you up to date and informed about the real estate market, we have prepared your Toronto update for the third quarter of 2019.

Do you want the stats for your neighbourhood, or have a question about a specific sale on your street? Reach out and we’ll gladly give you all of the info! info@thurstonolsen.com

Are you curious to know what your home is worth? Give us call at 416.465.7850 and we will be happy to provide you with an opinion of value.

Toronto July to September 2019 Real Estate Update

  • 8,646 homes sold throughout Toronto from July – September, 2019
    • 2,442 were detached homes
    • 743 were semi-detached homes
    • 4,472 were condos
    • 989 were a combination of other home types
  • The average price of a detached home is $1,280,312
  • The average price of a semi-detached home is $1,009,361
  • The average price of a condo is $628,074
  • Homes are on the market an average of 21 days

Click here to view our Toronto Real Estate Update from Q2 2019.

3 10, 2019

JUST LISTED! 68 Broadview Avenue Loft 222 – Broadview Lofts

Welcome to 68 Broadview Avenue Loft 222 at Broadview Lofts

Once home to a Rexall Pharmacy warehouse, in 2006 The Sobara Group completed repurposing this iconic building into the most coveted loft conversion in Riverside. From the brick exterior with classic black trimmed warehouse windows, to the cage style elevators, to the historic décor in the front lobby, everything about 68 Broadview pays tribute to its history.

Loft 222 is absolutely incredible. Upon entry you are immediately impressed by the expansive open concept living and its spacious, airy feel. With over 1000 square feet of interior living space and a walk out balcony featuring double sliding doors, the outdoor space truly acts as an extension of the unit. The generous square footage and customizable floor plan allows for numerous potential options to meet many different needs.

True to the definition of a hard loft, this home features polished concrete floors, exposed ducts, and towering 10’5” ceilings. The floor to ceiling windows offer impressive westward city skyline and courtyard views and allow for plenty of natural sunlight to flood this residence throughout the day.

The building offers security/concierge, a beautiful roof level amenities room, and a spacious common rooftop deck with unbelievable city views. Located just minutes from the DVP, Gardiner Expressway, and 24 hour TTC, this loft conversion is perfect for any commuter. Move in and enjoy all of the shops, restaurants, and bars that trendy Riverside and Leslieville have to offer!

Further photos & info: www.68Broadview.com

List price: $929,900

MLS #: E4597058

12 09, 2019

JUST LISTED! 1100 Kingston Road Suite 216 – Kingston & Co

Welcome to 1100 Kingston Road, Suite 216

Stunning in every way, this corner suite with a southeast exposure features impressive large windows and the day long ambiance of natural light in every room. Not often found in condo living, the 1420 square feet of living space seems even larger given its exceptional floor plan with 3 bedrooms and 3 washrooms.

The spacious foyer of 1100 Kingston Road, Suite 216 is delightful for welcoming guests and includes a large closet to tuck away every coat, shoe and accessory. There is also an oversize laundry/storage room and a separate locker so that everything has a spot when not in use!

With engineered natural hardwood floors, the open concept main living space is warm and bright. The impressive kitchen features abundant white matte parma shaker cabinets, an eight-foot-long centre island with tons of space for prep and room to enjoy casual meals too! There is a separate pantry, pull out pot drawers, stainless steel appliances, an upgraded gas stove and a classic white subway tile backsplash. Finished with style and just right for the gourmet chef!

The dining area is spacious with enough room to easily seat six people. The adjacent living room has lots of space so everyone can stretch out while watching a movie and it’s a great spot for entertaining. There’s even an office nook which is a perfect for a home office or a spot for the kids to do homework.

All three of the bedrooms are generous in size with large windows and closets. The master bedroom is truly remarkable with enough space for a king size bed and a sitting area. It also includes a separate walk-in closet and spa-like master ensuite.

The south facing balcony is a great spot to finish a good read and is outfitted with a gas line for barbequing in any season!

Kingston & Co is a recently built condo in the heart of Kingston Road Village and just minutes from Queen Street East and the beach! It overlooks Blantyre Park and has a roof top terrace with panoramic lake and city views and a large barbeque area. On this level there is also a private indoor dining room that can be booked for entertaining.

On the second level of 1100 Kingston Road, very conveniently located is a guest suite, a well-equipped gym, a yoga studio and large lounge with a pool table. So incredible to have all of this at your fingertips!

Perfect for a family looking for carefree living or for anyone looking to “right size” with space to accommodate guests. Suite 216 checks all of the boxes, move in and enjoy this gorgeous residence!

Further photos & info: www.1100Kingston.com

List price: $999,000

MLS #: E4613832

16 08, 2019

Where you can buy houses in Toronto for under $1 million

Here’s where you can buy houses in Toronto for under $1 million

skyline with CN Tower, condos and houses in Toronto

The price of detached houses in Toronto surpassed the $1 million mark for the first time in 2015. Since then prices have hovered at a consistent high and according to a new report by RE/MAX, they’re again on the rise. RE/MAX examined the Toronto Real Estate Board‘s 65 districts and found that detached housing values rose in 57 per cent of neighbourhoods in the 416. While this is welcome news for those who already own a piece of this lucrative property pie, those trying to buy houses in Toronto find themselves wondering if and when affordability will return to this hot market.

Despite the affordability woes, detached home sales in the GTA were way up in the first half of the year. Year-to-date transactions are up 17 per cent over 2018 figures – 20,067 versus 17,202 – and double-digit sales increases happened in over 70 per cent of TREB districts, which includes areas in the 416 and 905.

The market correction – especially over the past 18 months – has been the major catalyst for the increase in detached housing sales. It’s all about price,” says Christopher Alexander, Executive Vice President and Regional Director at RE/MAX of Ontario-Atlantic Canada. “The overall average price for detached housing in the GTA is still down marginally (-1.2 per cent), compared to year-ago levels. Year-to-date average price (January to June) was $1,008,177 in 2019 versus $1,020,136 in 2018.

While balanced and seller’s market conditions are evident in the 416, an estimated 45 per cent of Toronto neighbourhoods were in clear buyer’s market territory in June. The tightest area of the city is the East End, where eight out of 11 districts are in balanced/seller’s territory.

If you’re in the market to buy and you have your heart set on the 416, but don’t have a bottomless bank account, here are 12 areas where you can still buy detached houses in Toronto for less than $1 million.

EAST END TORONTO

East End Toronto homes for under $1 million

WEST END TORONTO

West end Toronto homes for under $1 million

source: blog.remax.ca

9 08, 2019

LEASED! 875 Queen Street East Suite 324 – Leslieville

We helped our client successfully rent out his shiny new condo at 875 Queen Street East in Leslieville.

875 Queen Street East, Leslieville, Toronto leased by Thurston Olsen Real Estate Team

The south east facing corner suite has one bedroom, plus a den. Ample natural light floods the open living room and sleek designer kitchen with lofty concrete ceilings. Steps to parks, restaurants, shops, TTC, easy access to the highways, and all that Leslieville has to offer – plus a parking space!

7 08, 2019

SOLD! 174 Campbell Avenue – Junction Triangle

174 Campbell Avenue in the Junction Triangle was recently scooped up by our buyer clients.

174 Campbell Ave Junction, Toronto Sold by Thurston Olsen Real Estate Team Ford Thurston Chris Olsen

The 2 storey brick semi was beautifully renovated, has three bedrooms, two washrooms, a finished basement, and a 2 car garage! The main floor opens into a modern white kitchen with a timeless, stylish backsplash, loads of cupboards and plenty of counter space. They can walk out from the kitchen to spend sunny evenings in the west facing backyard. Congratulations to our clients, we’re excited for you to make this house your home.

11 07, 2019

Thurston Olsen Toronto Real Estate Update Q2 2019

Summer is here! We hope you’re enjoying this weather and finding some time to relax with friends and family. To keep you up to date and informed about the real estate market, we have prepared your Toronto real estate update for the second quarter of 2019.

Do you want the stats for your neighbourhood, or have a question about a specific sale on your street? Reach out and we’ll gladly give you all of the info! info@thurstonolsen.com

Are you curious to know what your home is worth? Give us call at 416.465.7850 and we will be happy to provide you with an opinion of value.

 

Thurston Olsen Real Estate Team update Toronto Q2 2019

  • 10,131 homes sold throughout Toronto from April – June, 2019
    • 3,150 were detached homes
    • 1,021 were semi-detached homes
    • 4,836 were condos
    • 1,124 were a combination of other home types
  • The average price of a detached home is $1,359,192
  • The average price of a semi-detached home is $1,052,834
  • The average price of a condo is $639,316
  • Homes are on the market an average of 17 days

Click here to view our Toronto Real Estate Update from Q1 2019.