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 October 2022 - Toronto Real Estate Housing Market Update

Despite another rate hike from the Bank of Canada, activity remained similar to last month with 4,961 sales taking place, and homes available for sale staying around the 13,000 mark. This low number of available homes helped keep the average price stable, more or less flat for the last three months.

Note: This is still 9.9% higher than the end of 2021.

The Bank of Canada’s most recent messaging suggests they are reaching the end of their tightening strategy and bond yields dipped. As a result, fixed mortgage rates may trend lower moving forward which would help affordability and thus sales.

While this seems like good news, I must admit, it makes me nervous. There are so few homes for sale, any kind of small uptick in demand could lead to a repeat of rapid price increases as we have experienced earlier this year. Despite the economic uncertainty, the inventory shortage coupled with continuing strong demand for housing could cause a quick rebound to a hot market.

This is a complicated and somewhat unpredictable real estate market. Yet, it is an ideal time for those looking to benefit as up-sizers or investors

While everyone’s circumstances, wants and needs differ, for most, sitting on the sidelines and waiting is a mistake. If you’re not sure, or if you know of someone who needs to talk about their situation, please give me a call, I’ll be happy to consult objectively! Let’s assess together when the right time is to move forward. My role is not to make a sale, it’s to address any real estate uncertainty you may have and propose your next steps. That may result in a recommendation of “do nothing”.

Regardless of your needs, it's important that you work with a strong, experienced realtor and a worldwide brand that can help you navigate and make great decisions in this market. Take advantage of my combined experience of 17 years in real-estate and 4 decades as a business owner. Give me a call and let’s talk!

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You
Re/Max Realtron⁠
(416) 543-7252⁠
sam@samchaim.com⁠

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New property listed in Bathurst Manor, Toronto C06

I have listed a new property at 5 Purdon DR in Toronto.
Elegantly Updated Side Split Home In Bathurst Manor On A Sprawling Corner Lot! Welcome To The Perfect 3+1 Bedroom Forever Home Featuring A Chef's Kitchen With Oversized Island, Jenn Air Appliances, Pot Filler & W/O To Yard. Rich Hardwood Flooring Throughout Main And Soaring Ceilings In The Living & Dining. All Spacious Upper Level Bedrooms And Primary W/ Spa Like 4 Pc Ensuite. Lower Level Family Rm With W/O To Huge Fenced In Yard, Library, Cold Cellar, Gym W/ Cedar Closet And So Much Storage! This Home Has Been Extensively Renovated! Short Drive To Highways, Yorkdale Mall, Shopping Plaza, Schools, Park, Places Of Worship.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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New property listed in Brownridge, Vaughan

I have listed a new property at 1601 100 Promenade CIR in Thornhill.
Fantastic opportunity to own this large (1300+ s.f.)sub-penthouse 2 + 1 bedroom in one of Thornhill's best buildings. Corner unit, with east, south and west views, and a panoramic unobstructed and guaranteed view of Thornhill and gorgeous sunsets from the large private balcony. Parking and locker included.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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New property listed in Brownridge, Vaughan

I have listed a new property at 168 Tansley RD in Vaughan.
Location! Location! Location! Nestled In A Prestigious And Quiet Enclave In The Heart Of Thornhill. Surrounded By Parks, Walking Paths, Highly Rated Schools, Steps To Public Transit, Amazing Curb Appeal With Lots Of Natural Light, Solid Oak Hardwood Floors, 4 Oversized Bedrooms. 4 Bathrooms, 3134 Sqft (Main/2nd) + 1244 Sqft(Bsmt) Total Living Space Of 4378 Sqft, Combined Living Room/Dining Room, Main Floor Room W/ Wood Burning Fireplace And Office, Central Vacuum + Equipment ,Kitchen With A Centre Island And Separate Breakfast Area With A Walkout To Cozy Backyard Garden Oasis. Finished Basement Includes Built-In Wall Units Nanny Bedroom, Office And 3Pce Washroom. & Tons Of Storage. Parking For 5 Cars.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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October 2022 - Bank of Canada Rate Announcement

When the overnight rate is increased, it becomes more expensive to borrow money. The increased costs of borrowing money are shifted from the bank onto the consumer by increasing the Prime Rate.

Pre-Approvals are likely to decrease.

Fixed-Rate Mortgages remain the same.

Adjustable Rate Mortgages will increase according to the new Prime Rate minus your discount. (Expect information in the mail).

Static Variable Mortgages payments remain the same but a portion of interest paid to the lender will change.

Reach out with your questions anytime. I can introduce you to a mortgage broker who would be happy to go over your options with you and help you find a mortgage that you're most comfortable with.

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!⁠

Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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September 2022 - Toronto Real Estate Housing Market Update
October 2022 

Dear Friend, 

Borrowing rates are up and so are sales prices while volume is down. Are you surprised? The recent trend continues as 5,038 homes sold in September, down from last year’s record levels. The average sale price also is up 10.7% since the start of the year to $1,212,963. It’s confusing, isn’t it? Prices are supposed to be down but yet are up. This disconnect is because prices increased 28% in February and March this year. Prices are averaging down slowly from those highs, as we expect to end 2022 with a 6-8% price increase over 2021. 

This also explains why despite the negative news and borrowing rate increase the market continues to move forward. Some got lucky a few months ago and sold near the peak but in most of those cases, they also bought at that same peak. Trade-up buyers are seeing this as an opportunity to upgrade before prices make their next charge forward, and they will. Increases of 12-15% in rental rates combined with prices being off their peak have attracted investors back into the market.  

Bottom line, Toronto and the GTAA is not likely to suffer any sustained value retraction.  Living in and near Toronto there are always people on the move because of personal circumstances and of course immigration bolsters demand on top of that. The area governments are so far behind in creating a path to easing demand it will still take years to change the dynamics. 

You’ll pardon me for beating the same drum again and again but there is a continuing shortage of available homes for sale for trade up buyers while downsizers are staying home longer. Therefore, the future of home valuations in the GTA remains extremely positive if we stay focussed on the long term.

What your best move is, and when to make it, remains a very personal question. So, talk to me about your needs and I promise you the most impartial objective advice. My interest and priority is to help you do what is best for you. Let me guide you through the intricacies and often confusing signals of the current market. Opportunities do exist whether you are buying or selling and the first one to say, “let’s wait,” will be me, if that makes the most sense for you and your family.  The worst decision for you just might be, not to make any decision.  

Let’s talk because you have a friend in the business who cares!

To A Good Life,

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠
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New property listed in Mount Pleasant West, Toronto C10

I have listed a new property at Th5 101 Erskine AVE in Toronto.
Luxurious Sophisticated Townhouse In Tridel complex, Private Elevator In Your Unit!! 3Bdrm+Study/Can Be 4th, 4Bath. Sun-Filled Spacious Open Concept, Sleek/Modern Kitchen, Huge White Quartz Island, 12' Ceiling, Hw T/O, High-End Window Covers, Skylights, Integrated Appls, Gas Range In Chef's Kitchen, Fam & Living W/Fireplace, Private Terrace, Huge Master W/Spa Ensuite & Balcony. Steps To Highly Desirable Yonge/Eglinton, Shops, Dining & Future Lrt. 1st Class Amenities: Rooftop Garden & Infinity Pool,Lounge,Guest Suites,Gym,Party Room, Billiards,Yoga, Movie Theatre, Outdoor Bdqs And Dinning
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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September 2022 - Bank Of Canada Rate Announcement

Did you hear the news? The BoC increased the overnight lending rate by 0.75%, which is another increase for the 5th time in a row. The Prime rate is expected to increase by 0.75% to 5.45% and Variable rate mortgages will increase by 0.75%.

The Bank’s committed to price stability and will continue to do what is required to achieve a 2% inflation target. As the effects of monetary tightening work their way through the economy, the BoC will assess how much higher interest rates need to go to return inflation to its target. The current inflation rate is measured at 7.6% decreasing from 8.1% in the previous month.

The next announcement is scheduled for October 26th and there's certainly hope that October will be more positive.

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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August 2022 - Toronto Real Estate Housing Market Update

With 5,627 homes sold, August marked a slight increase over July in terms of number of homes sold as well as for the average sale price. The average sale price YTD is now at $1,224,216, compared to 2021’s average price of $1 095,339. 



Please don’t expect prices to start to rise again. What August’s data shows is that the real estate market is active with sales and purchases taking place. While listings remain in short supply, buyers show continued willingness to purchase at today’s market prices. Overpriced listings are soon exposed by today’s savvier buyer and those listings will languish.

As always there are areas of strength and weakness in the market. Condominium sales in the 416-area code have strengthened as overall demand has increased due to the higher price points for detached homes and the fact that rents have increased significantly over the last year. Renovated suites in older buildings are typically larger and are selling at significant premiums over those that are unrenovated. Also 905 detached home prices have softened in the outlying areas, but the challenge for first time buyers or those moving further away to upsize will be qualification for financing.

The dream of a private backyard and a white picket fence is deeply rooted in our society which will keep demand up. My prediction is we will see a stabilizing of these conditions moving forward. The volume of transactions may decline but underlying market dynamics, principally demand and low supply, will buoy sales prices.

Predictably, we are reading more and more doomsday comments about significant price declines because among other key factors, interest rates are rising. But the offsetting demand, I expect, will counter that thought. We have seen this wishful thinking before. A well priced property sells in approximately 3 weeks, provided it is priced within 5% of market value. Looking at it with a seasonal perspective, the market is reasonably active in all categories of properties right across the GTA.

If you are interested in finding opportunities in today’s real estate market, you need a knowledgeable broker that can give you the information you need to make a good decision for you and your family. A full time, experienced realtor like me, associated with a great company like RE/MAX Realtron! Give me a call, let’s chat, after all you have a friend in the business who is, you know….the Point Man In Real Estate! 

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

Read Full Market Stats Report

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New property listed in Crestwood-Springfarm-Yorkhill, Vaughan

I have listed a new property at 1409 7 Townsgate DR in Vaughan.
Offered in this demand building. Welcome To 7 Townsgate Dr Suite1409. 1357Sqft. Top Of The Line Renovation. 2 bedrooms, 2 baths, expansive solarium, 2 parking spots and locker are the basics. Beautiful views from the southeast facing balcony and large windows throughout ensure a bright interior. If you're thinking of downsizing from a large home, or are moving up in a condo, this is the unit for you...without compromise.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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New property listed in Aileen-Willowbrook, Markham

I have listed a new property at 55 Innisbrook CRES in Markham.
Celebrate Your Own Slice Of Paradise In This Welcoming Place Of Shelter. Beauty & Tranquility Describes This Spacious Bright Family Home In Most Prestigious Willowbrook Area. This Charmer Renovated Top To Bottom With High Cathedral Ceiling In Family Room Boasts Magazine Quality & Offers The Luxury And Serenity Of Life With Amazing Layout & Unique Private Backyard Oasis With Stunning Idyllic Views Over Garden.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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July 2022 - Toronto Real Estate Housing Market Update

Some interesting facts about the real estate market activity in July:


Number of homes for sale: 15,334

Number of homes sold: 4,912
Average Number of homes AVAILABLE for a buyer to see: 3.12
Average Sale to List Price: 99%
Average Days on Market: 16
Average Price Increase from 2021 13.2%

So how do we interpret this data? Right now it is still a Seller’s Market. Almost 5000 homes sold so the fact is buyers are buying homes in the GTA. The number of homes available for sale continues to be low.

The average price is up from 2021 while prices are down from the huge increases we had at the start of the year. The market continues to adjust.

The fundamentals of Toronto’s economy haven’t changed. Unemployment is low, immigration continues to be high and rental rates are increasing. The high demand and a lack of supply is exactly what has caused the sharp increase in prices of homes and rentals! This will not change in the near future without some massive changes and acceleration of government policies.

The start of August saw a reduction in fuel prices, welcome relief to all of us! The fight against rising inflation will hopefully impact/control interest rates and bring back more affordable borrowing rates to the many people waiting on the sidelines to make a move. I don’t know how long this adjustment in sharp price increases will continue, but I know that once public confidence is restored, prices will continue to increase quickly again.

When a house is priced right, it sells very quickly close to or over the asking price. So YES, multiple offers are still taking place. A house can sell itself, but how long it takes and the price one gets is dependent on the effectiveness of the following:

- Preparation/presentation of a home
- A strategic pricing plan
- Promotion and interaction with other Realtors
- An aggressive marketing plan
- An Experienced negotiatiator.

I believe this is a great time to purchase a bigger home or an investment property, because no one can predict the future. Think 5-10 years from now and look back on previous unpredictable times like 2018, 2008 and others. Seeking the top or the bottom of the market rarely ends well so if you are ready...."just do it."

By the way, I will be away in Israel from August 19th – September 5th on a lifelong dream trip with my immediate family of 14. We will be celebrating delayed and upcoming Bar & Bat Mitzvahs for 4 of 6 grandchildren. In my absence I will have a colleague on call to help you and will provide that information next week. I will be reachable but response times will be slow.

In the meantime, if you are looking ahead to doing something in September or October, message me now and let’s get started. After all, you have a friend in the business who wants to see you succeed and live the good life!

Have a great rest of the summer!

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠
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June 2022 - CREA Housing Market Snapshot
Sales activity continues to slow in the face of rising interest rates and uncertainty but the market still continues to be strong. ⁠

Wondering how this impacts your home buying or selling decision? Are you interested in moving out of the province? Connect with me to discuss your options and for a trusted referral.⁠

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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New property listed in Brownridge, Vaughan

I have listed a new property at 901 88 Promenade CIR in Vaughan.
Prime Location In Heart Of Thornhill. Use your imagination and move into this Spacious 886 Sq Ft 2 Bdrm, 2 Baths, Split Layout. Sun-Filled Living Space, With Balcony. Open Concept Kitchen With Granite Counters & Breakfast Bar. Easy Access To All Amenities, Steps To Promenade Mall, Go Transit, Viva, Minutes To 407 And 404, Shopping, Public Library, Parks Restaurants, Grocery Stores. Building Amenities Include Indoor Pool, Party Room, Exercise Room.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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New property listed in Brownridge, Vaughan

I have listed a new property at 1603 7420 Bathurst ST in Vaughan.
Offers Anytime! This Turnkey Unit Is One Of The Largest 2 Br Units In The Building And Almost 1300 Sq Ft! Ton Of $$ Spent In Upgrades Upgraded Floors, New Lighting Fixtures, All New Faucets, New Vanities In Bathroom, New Appliances, And Entire Unit Has Been Painted. Enjoy The Abundance Of Natural Light W/ Unobstructed View From The Lower Penthouse Floor. The Oversized Primary Bedroom Includes A 3 Pc Ensuite, And Access To The Balcony.Locker/Parking Included!
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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New property listed in Clanton Park, Toronto C06

I have listed a new property at 124 Alexis BLVD in Toronto.
Attn: Homeowners And Developers! Rare Opportunity To Own This Deep-Sized Lot With Privacy And Lots Of Potential In The Highly Desired Clanton Park. Facing A Quiet Street. Hwd Floor Throughout The Main Level. Newly Renovated Kitchen. Crown Moulding And Pot Lights. Freshly Painted 3 Beds + Huge Loft At The Main Unit. Completely Landscaped Front And Back Yards. 3 Extra Beds + 2 Full Baths And Separate Kitchen, Laundry In The Lower Unit. Mins To Ttc,Hwys And Shopping Centers. Steps To Parks And Top Ranked Schools. Lower Unit With Stable Rental Income ( Either Assume Or Vacate With Advance Notice Given). Easy Showing With Lbx For The Upper Unit. 3D Tour Of The Lower Unit Available. Must See!
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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June 2022 - Toronto Real Estate Market Update

June 2022 Stats are out & borrowing costs continued to impact the amount of homes sold. 6,474 sales occurred last month, down by 41% compared to last year's strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.

The average selling price, at $1,146,254, remained 5.3% above the June 2021 level, but continued to trend lower on a monthly basis. The MLS® Home Price Index Composite benchmark was up by 17.9% year-over-year, but also experienced a month-over-month dip compared to May.

Annual price growth was driven more so by less expensive market segments, including townhouses and condominium apartments.

While the number of transactions was down year-over-year, the number of new listings was little changed over the same period. This has provided for more balance in the market, resulting in a more moderate annual pace of price growth.

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

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

Read Full Market Stats Package

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I have sold a property at Severn
I have sold a property at Severn.
My clients are thrilled with this property, under 2 hrs. from Toronto. Checks all the boxes: boathouse, bunkie, open kitchen and great room overlooking the lake vista, modern 3 bed.2 bath, Muskoka rm, 2 firepits. A solid offer, and negotiating skills beat the odds on finding the perfect vacation home. Leverage my 30 yrs. + of cottage experience and familiarity with all the issues potential cottage buyers face when looking for their slice of heaven to your benefit!
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May 2022 - Toronto Real Estate Housing Market Update

No surprise as the Toronto Real Estate Board released the May sales numbers. 7,283 properties sold with an average sale price at $1,274,869, up 16.4% since the end of 2021.  GTA Realtors meanwhile listed 18,679 homes for sale year to date. There were 7,283 sales in May 2022 – down 38.8% compared to May 2021 and down 9% compared to April 2022. 

The number of new May listings was like last year’s level and edged up on a month-over-month basis. With sales down and new listings trending flat to slightly up, the number of active listings was up on a year-over-year basis by 26%. Without a doubt, the increase in mortgage rates is a real concern as many are waiting to see the impact on prices but market conditions remained tight enough to support an overall average selling price of $1,212,806 for May 2022, representing an annual growth rate of 9.4%.

The reality of the market has not changed. Due to a shortage of homes for sale, prices in January and February rose at an unsustainable rate of 25%+. In March, sellers with inexperienced Realtors continued to offer properties for sale at significantly higher prices than the previous sales and, not surprisingly, buyers balked as homes stopped selling almost overnight. With the mortgage rate increase taking some buyers out of the market and others waiting to see what happens, the number of homes sold dropped compared to last year. The impression and Buyers’ hope is that home prices will keep declining.

The problem is, “Hope” is not a strategy. Hope supports realistic optimism, a necessary component of success. But If the market turns back up, as we have seen before, e.g. 2018, and interests rise again, buyers will be further disadvantaged. The other factor is, no matter whether you are buying or selling, putting on hold your life needs and that of your family is costly in more ways than just monetarily.  We need only think back over the past 2+ years to recognize that.

This is also an amazing time to increase your investment portfolio. It’s said “don’t time the market”, but it is also said, “buy the dip” if the opportunity presents itself. Give me a call and let me show you the reality of the market and how you can turn it to your advantage.

Pareto’s Principal says that 20% of sales people do 80% of the sales in any field. As a full time, professional & experienced realtor and businessman have the pricing & marketing strategies and negotiating skills to make it work for you. As a top performer and being with Remax, the largest multinational real estate company marketing properties world-wide, you need me and Remax!

You can read the full May report and/or call me to talk about your personal situation, your hopes, and dreams. There is no obligation and perhaps we can plan together to turn your hopes into your reality.

Have a great June and start of summer.

To A Good Life

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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New property listed in Crestwood-Springfarm-Yorkhill, Vaughan

I have listed a new property at 161 Spring Gate BLVD in Vaughan.
Move In Before School- To The Fabulous Thornhill Neighborhood, Spring Farm! Mostly Updated With A Great Layout, 4 Large Bdrms, W/Huge Principal Suite & Finished Basement. Updates And Inclusions Are Too Numerous To Mention (See Attached Features Sheet & Speak To L/A). All The Major Items Will Require No Maintenance For Years To Come. Large Yard-Fenced (New '20). Walk To Schools, Parks, Library, Playgrnds, Community Ctr, Synagogues, Shops. & Futur Subway.
If you know someone who may be interested in this home or is thinking about a move please fell free to share this infomation.
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