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There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million.

The average selling price dipped slightly month-over-month, bucking the regular seasonal trend. New listings were also down on a year-over-year basis, but by a much lesser annual rate than sales. This suggests that while market conditions remained very tight, homebuyers did not experience the same level of competition from other buyers compared to a year earlier.

Contact me with questions as to how this impacts your buying or selling decisions!

Sam Chaim⁠ - Making A Difference For You!⁠
Re/Max Realtron⁠

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Have any tips to add? I'm ready to Make A Difference For You!
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Might a little DIY save you some hard-earned cash?  Or would you rather buy a move-in ready home with a premium price tag? There’s a lot to consider when deciding what type of home to buy. Here are some thought-starters.
Make Your Mark
Fixer-Upper: The beauty of a fixer-upper is that you can make it yours — from the finishes to the floor material, it’s all you. That being said, renovation costs can mount when you’re presented with a myriad of choices at climbing price points. (Marble countertops, anyone?)
Renovated: When you walk into a fully renovated home, most of the design choices have already been made for you. There are newly installed oak shaker cabinets when you prefer a white high-gloss finish, and grey laminate floors when you like tile. But if those aren’t deal-breakers, there’s a lot to be said for the convenience and clean-slate state of a move-in-ready home.
Location, Location, Location
Fixer-Upper: Buying the worst house on the best block is the cornerstone for many development companies, and for good reason. People want to live in their preferred neighborhood and will pay more to do so. Renovating a wreck is an investment.
Renovated: A fully renovated home outside of the most coveted neighborhoods or those currently under development is also a smart investment option. If you’re willing to sacrifice your usual stomping grounds for a finished basement and a yard, that move could pay off.
High Roller
Fixer-Upper: While a home in need of some TLC will cost you less upfront, renovation invoices (especially unexpected ones) can add up quickly. Make sure there’s enough room in your budget to cover what needs to be done — and be prepared to DIY where possible.
Renovated: Sure, a fully renovated home is going to cost more than the one down the street with a leaky roof and sinking foundations, but you don’t have to organize a crew of roofers or call in the basement specialists.
Living Arrangements
Fixer-Upper: You’ve taken the plunge and bought the small semi-detached in need of some love (okay, lots of love) and you’re thrilled. But some decisions need to be made; namely, where are you going to live during the renovation process? Living on a construction site is not ideal, but neither is paying rent and a mortgage at the same time. Know your limits.
Renovated: Does moving right into your new home, unpacking your boxes, and sleeping on your bed that first night sound good to you? If so, the higher price tag of the renovated home may be worth the convenience, versus living with the mess of months of renovations.
Back Up Plan
Fixer-Upper: The main risk of buying a fixer-upper is running out of renovation money without the project being completed. Unexpected costs, sudden loss of income, or overspending can all lead to financial trouble, and a half-renovated house is much harder to sell if you’re looking to recoup your losses.
Renovated: Once you’ve purchased a fully renovated home, your upgrading costs should be minimal for many years to come. The initial price tag may dwarf that of a fixer-upper, but what you invest now will pay off in worry-free homeownership.
Sam Chaim⁠ - Making A Difference For You!
Re/Max Realtron⁠
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And that's why every moment has to count! You home a place where you spend most of your time, it's your sanctuary and your place to relax. Why not spend your precious moments in the home you've always imagined?
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November 2021 stats are out!

Click here for Markham, ON.

Click here for Vaughan, ON.

Click here for Richmond Hill, ON.

Have questions about how this may impact your home selling or buying decision?! Contact me!

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The Toronto real estate market continued to be extremely active in July but the pace has eased somewhat for now. The Toronto Regional Real Estate Board (TRREB) reported sales of 9390 homes a 19.9 % drop from July 2020 and overall inventory was down more than 35%. Keep in mind that by summer of 2020 the pent-up demand from the early months of the pandemic was emerging at full throttle. July’s supply of listings was not enough to ease the tight market conditions so the significant level of multiple offers continues.

The combined average selling price in July of all types of homes, freehold and condo, came in at $1,062,256 which is 12.6% higher than 1 year ago. The detached market segment led the way in terms of price growth and continued to be driven by sales in the suburban regions surrounding Toronto. On a seasonally adjusted basis, the average price was up by 0.9 per cent compared to last month.

The annual rate of price growth remains in double digits but has moderated since the early spring. All this is still without the benefit of open borders which may begin to impact the market as fully vaccinated immigrants arrive in the coming weeks. This will put additional pressure on pricing and inventory. Our government needs to streamline its approach for new developments and renovation applications to help ease the inventory situation in the GTA. Financing rates remained stable as the Government of Canada seems content to leave things as they are. Rising cost of construction materials and labour are all factors expected to keep prices increasing for the foreseeable future.

The advice today is not much different than over the last few months. If you’re thinking of buying or selling, or know someone who is, please know that I am here to help. Let my real estate experience guide you through the process and my business experience negotiate the right deal for you.

Remember, putting clients’ interests above mine is a priority while providing professional guidance and protection in one of the largest financial transactions clients will ever make. I am always available to help you and grateful if you have someone you care about to refer!!

Have a great rest of the summer and stay safe.

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