GTA Real Estate Market Report April 2016

Record Home Sales in April

Greater Toronto Realtors reported 12,085 residential sales through the Toronto MLS system in April 2016. The number of transactions in April represented a 7.4% increase compared to 11,254 transactions reported in April 2015. Condo apartments in the GTA had the highest sales increase year-over-year.

The number of new listings reported in April was down by 9.9% compared to the same period in 2015. Active listings were 12,554 in April-down 26.9% from April 2015.

For the TREB market area as a whole, annual sales growth was experienced for all major home types except semi-detached houses. In the City of Toronto, sales were down for detached and semi-detached houses as well as townhouses on a year-over-year basis. This dip in sales in the “416” area code was due to a lack of low-rise listings. Many would-be buyers were not able to find a home that met their needs.

“While April’s sales result represented a new record for sales, that number could have been even higher if we had benefitted from more supply. In the City of Toronto in particular, some households have chosen not to list their home for sale because of the second substantial land transfer tax and associated administration fee. The lack of available inventory, coupled with record sales, continued to translate into robust annual rates of price growth” said Mark McLean, TREB’s President.

The average price in April was up by 16.2% from the same time last year to $739,082. Detached homes in the GTA led the way in terms of an average price increase at 18.9% compared to the same time last year.

“As we move into the busiest time of the year, in terms of sales volume, strong competition between buyers will continue to push home prices higher. A greater supply of listings would certainly be welcome, but we would need to see a number of consecutive months in which listings growth outpaces sales growth before market conditions become more balanced,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments increased by 17.4% in April 2016. The average selling price of a Toronto condo increased by 7.0% in April 2016 from the same time last year to $436,545.

Condominium apartments accounted for 23.2% of total sales in the GTA for April 2016 while detached homes accounted for 50.2% of the total sales.

Other notable statistics include the average days on the market for April at 15 days, down 16.7%. The sales-to-listings ratio for April 2016 was 96.0% which is classified as a very big seller’s market. A ratio from 24%-28% is considered a balanced market.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property’s market value range

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

For all of your real estate questions please contact me direct (416-520-6746) or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

GTA Condo Market Report Q1 2016

Strong Condo Sales and Price Growth in Q1 2016

Greater Toronto Realtors reported 5,974 condo apartment sales through the MLS in the first quarter of 2016. The number of transactions represented a 21.2% increase compared to 4,930 transactions reported in Q1 2015.

In the City of Toronto, which accounted for 70% of condo apartment sales in the GTA, sales were up by 20.0%. The average selling price in the City of Toronto was $423,166 up 9.7% from Q1 2015.

The number of new listings in the GTA reported in Q1 was down by 1.7% compared to the same period in 2015.

“It is clear that the demand for condominium apartments more than kept up with the supply of listings in the first quarter of this year. This housing type is an important entry point into home ownership for a lot of GTA households, particularly in the City of Toronto. Recent polling undertaken for TREB by IPSOS suggested that approximately half of home purchases made in the GTA this year would be accounted for by first-time buyers ,” said Toronto Real Estate Board  Mr.  McLean.

The average GTA selling price grew in Q1 up by 8.1% from the same time last year to $393,589.

“While the condominium apartment  market segment remains the best supplied in the GTA, market conditions have tightened considerably since the first quarter of 2015. Not surprisingly, the pace of year-over-year price growth has accelerated over the same period of time,” said Jason Mercer, TREB’s Senior Manager of Market Analyses.

Other notable statistics include the average days on the market for Q1 at 31 days. Active listings were 5,245 in Q1-down 15.9% from Q1 2015.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property’s market value range

Real estate is very building  specific. The numbers as reported above are GTA averages. Results in one building do not indicate that all other buildings  are experiencing the same results.

There were 6,458 condominium apartment rental transactions reported through TREB’s MLs system during Q1 2016. This result represented a year-over-year increase of 6.5% compared to Q1 2015.

Tighter market conditions translated into strong average annual rates of rent growth. GTA-wide, average one-bedroom and two-bedroom rents were up by more than the rate of inflation.

The vacancy rate for a condo apartment in the City of Toronto for Q1 2016 was 1.8%.

Do you have any questions about Toronto Real Estate? Please contact me direct at or by email, David@DavidStoddard.ca

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Effortless and Thorough

” Our experience working with David could be summed up in two simple words: effortless and thorough. During our first conversation with David, we were straight forward when saying that we would probably be the most difficult clients he’s worked with due to working in the architectural and development field. Luckily for us, this did not faze him. David is extremely organized and has a vast knowledge of the entire real estate process, thus ensuring that his clients do not get ahead of themselves. His regimented routine goes in detail by noting your specific requirements within a property, cash flow analysis to ensure you are not “house poor” and an overall explanation of the purchasing process. David can easily think outside the box allowing for an extensive criteria search, maximizing available property listings. It is quite obvious that today’s market is extremely competitive and stressful, however David ensured that the process did not become overwhelming by managing the minutia of details. It should be noted that David’s attributes do not stop there as he has access to a well versed team of real estate lawyers who will act quickly to finalize all paperwork and answer any questions you may have; no matter how ludicrous you may think they are. Based on our recent experience, we would not hesitate to use David again in the future and to recommend him to everyone we know.”

– Chris and Kate

congrats

Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

GTA Condo Market Report Q4 2015

Condo Market Tightened in Q4 2015

Greater Toronto Realtors reported 5,595 condo apartment  sales through the MLS in the fourth quarter of  2014. The number of transactions represented a 12.8% increase compared to 4,971 transactions reported in Q4 2014.

In the City of Toronto, which accounted for 71% of condo apartment sales in the GTA, sales were up by 11.3%. The average selling price in Toronto was $407,991 up 4.4% from Q4 2014.

The number of new listings in the GTA reported in Q4 was up by 3.3% compared to the same period in 2014.

“The condominium apartment segment is integral to the overall housing market in the GTA. Over the past decade, the trend has been increasingly build up due to provincial land use policies. As new projects have completed, a number of investor-held units have been listed for sale on TREB’s MLS System. These units have been absorbed quite rapidly, with enough demand relative to supply to prompt continued price growth ,” said Toronto Real Estate Board  Mr.  McLean.

The average selling price grew in Q4 up by 4.1% from the same time last year to $382,070.

“First-time buyers account for approximately half of all buyers in the GTA and even more so in the City of Toronto. Condominium apartments represent an important entry point into home ownership for a lot of households. This is a key reason why we experienced continued growth in sales for this home type over the past year” said Jason Mercer, TREB’s Senior Manager of Market Analyses.

Other notable statistics include the average days on the market for Q4 at 33 days. Active listings were 4,216 in Q4-down 5.6% from Q4 2013.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property’s market value range

Real estate is very building  specific. The numbers as reported above are GTA averages. Results in one building do not indicate that all other buildings  are experiencing the same results.

There was an increase in the number of condo apartment rental transactions in Q4 along with the number of units listed for rent. However the annual growth rate for rental transactions was greater than the annual growth rate for the number of units listed. Market conditions became tighter.

Tighter market conditions translated into strong average annual rates of rent growth. GTA-wide, average one-bedroom and two-bedroom rents were up by more than the rate of inflation.

The vacancy rate for a condo apartment in the City of Toronto for Q4 2015 was 1.8%.

Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

The Best You Could Ask For

” David is the best you could ask for when it comes to real estate agents. He showed me many places and knew exactly what I was looking for after our first time meeting. He was always available for any questions or assistance and has a great team that helped me with mortgages and ensuring I had everything I needed to get the perfect place. It’s safe to say without him I would be lost and I could not recommend anyone more that I would recommend David Stoddard, especially for first time buyers.”

  • Sam N.

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Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

Amazing Clients!

Amazing Clients! Amazing Results!!

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Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

Amazing Clients!

I was thrilled to be recognized this morning by RE/MAX Hallmark Realty Ltd., Brokerage, Ken McLachlan and Debra Bain, for 2015 sales achievements.

I have amazing clients!!!

Thank you!

Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

GTA Real Estate Market Report March 2016

Strong Growth in Home Sales in March/Q1

Greater Toronto Realtors reported 10,326 residential sales through the Toronto MLS system in March 2016. The number of transactions in March represented a 16.2% increase compared to 8,887 transactions reported in March 2015. Condo apartments in the GTA had the highest sales increase year-over-year.

The year-over-year growth rate for Q1 2016 sales was 15.8%.

The number of new listings reported in March was down by 3.7% compared to the same period in 2015. Active listings were 12,132 in March-down 20.7% from March 2015.

“At the beginning of 2016, TREB,s outlook for the year pointed to a strong possibility of a second consecutive record year for home sales. This outlook was based, in part, on upbeat consumer survey results pointing to robust home buying intentions. It is clear that these upbeat intentions have translated into record first quarter results” said Mark McLean, TREB’s President.

The average price in March was up by 12.1% from the same time last year to $688,181. Detached homes in the GTA led the way in terms of an average price increase at 15.7% compared to the same time last year.

“Demand was clearly not an issue in the first three months of 2016, regardless of the housing market segment being considered. The supply of listings, however, continued to aggravate many would-be home buyers. We could have experienced even stronger sales growth were it not for the constrained supply of listings, especially in the low-rise market segments. The resulting strong competition between buyers has underpinned the double-digit rates of price growth experienced so far this year,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments increased by 20.7% in Marc h 2016. The average selling price of a Toronto condo increased by 4.3% in March 2016 from the same time last year to $416,251.

Condominium apartments accounted for 25.6% of total sales in the GTA for March 2016 while detached homes accounted for 48.0% of the total sales.

Other notable statistics include the average days on the market for March at 16 days, down 20.0%. The sales-to-listings ratio for March 2016 was 85.1% which is classified as a very big seller’s market. A ratio from 24%-28% is considered a balanced market.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property’s market value range

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.

Using The Internet To Find a Home

The majority of buyers search the Internet as their first step in the home buying process. Whether they are searching listings or using a mortgage calculator, one thing is clear: the Internet is a powerful source of information. Below is information to help you harness the power of the Internet in your home search.

Please contact me direct at or by email, David@DavidStoddard.ca

** You can follow my real estate posts on FACEBOOK. Click here to LIKE my real estate page.

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.