Five Condo Renos That Add Value

Great article in www.TheGlobeandMail.com

It was a horror show. The condo kitchen was fitted with expensive cabinets by the high-end Italian company Scavolini – coloured hot pink. In another condo, the back splash behind the stove top was made of a metal – impossible to clean.

These are disasters for condo owners looking to sell. They are upgrades so bad, they downgrade the property’s value. And while most owners obviously want to maintain their condos’ worth, there are differing views on how to do so.

For people buying new condos with the expectation of reselling only a few years from now, Leslie Richardson, a real estate agent in downtown Toronto with Property.ca Realty Inc., recommends selecting the best package of appliances and fixtures right off the bat from the builder. This goes both for people buying a condo to live in and those buying it as an investment to rent out.

“You want to be purchasing from a quality builder. And when you’re doing that, your standard package that’s included in the price should be fairly decent and require very few, if no, upgrades,” she said.

However, “if you’re buying from a builder where we’re still seeing carpeted bedrooms and laminate counter tops, in that situation we would want to spend money on upgrades,” she adds.

Some, though, believe a condo should be continually upgraded. Even for condos only two or three years old, upgrading is key in order to keep pace with the market, said Renee Didiano, a Toronto agent with Condos.ca and also affiliated with the brokerage Property.ca. “I think now more than ever people need to be upgrading, and I’ll tell you why.

“When I bring people around and show them different spaces, you’ll find that there have been a lot of new buildings coming up,” she said. “[Builders] have been able to get better appliances, more state of the art. Because of that, you’ll find that condos built only three years ago will start to look dated.

“There are things you can do to change the look, but on a decent budget,” she added.

1. Hardwood floors throughout

Click here for more.

 

Here is what you can do next:
David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

Please contact me direct at 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.​

Condo Sales and Average Price Up in Q4 2014

 

Greater Toronto Realtors reported 4,975 condo apartment sales through the MLS in the 4th quarter of  2014. The number of transactions represented a 8.3% increase compared to 4,594 transactions reported in Q4 2013.

In the City of Toronto, which accounted for 72% of condo apartment sales in the GTA, sales were up by 9.4%. The average selling price in Toronto was $390,989 up 2.6% from Q4 2013.

The number of new listings in the GTA reported in Q4 was up by 4.7% compared to the same period in 2013.

“Demand for condominium apartments remained strong in the fourth quarter of 2014. While the supply of condominium apartments listed for sale grew in the fourth quarter, including a large number of completed units, the number of sales grew at a faster pace. Competition between buyers increased in the condo market over the past year,” said Toronto Real Estate Board President Paul Etherington.

Interest in ownership housing in the GTA , including demand from first-time buyers in the condo market, is extremely strong. The majority of households understand that a home purchase represents a quality long-term investment,”said Mr. Etherington.

The average selling price grew in Q4 up by 3.8% from the same time last year to $367,199.

“Despite very strong condominium completions over the last two years, we have not experienced a glut in inventory. The number of buyers has more than kept up with the number of units available for sale. This is why we continued to experience above-inflation average price growth in the condo segment,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

 

Other notable statistics include the average days on the market for Q4 at 35 days. Active listings were 4,468 in Q4-down 0.3% 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 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 downtown core rental transactions in Q4 along with the number of units listed for rent.

Average rents for popular one-bedroom and two-bedroom units were little changed on a year-over-year basis.

The condo apartment vacancy rate for Toronto was 1.3% which is very low.

 

 

Here is what you can do next:

 

David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

 

 

Please contact me direct at 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.​

Third-Best Year Ever for GTA New Condo Sales 2014

Urbanation Inc. (www.Urbanation.ca) , the leading source of information and analysis on the Toronto condominium market since 1981, released its fourth quarter and annual 2014 market results today.

A total of 21,605 new condominium apartments were sold across the Greater Toronto Area during 2014, representing the third best year for the market behind 2011 and 2007 and a 51% rebound from a 10-year low in 2013. Sales in the fourth quarter increased 25% year-over-year to 5,510 units.

Inventory levels in active development projects were reduced by 10% during the year to a total of 17,972 unsold units. Measured against absorptions, the level of supply on the market fell to 10 months by the end of 2014, down from 16.5 months a year earlier and marking a return to balanced conditions.

A record 20,809 condo apartment units were completed in 2014, bringing down the under construction count to 52,446 units from a high of close to 59,000 units a year ago. Remaining units under construction were 86% pre-sold at the end of the year. An additional 28,447 units were in pre-construction projects, of which 69% were pre-sold. Standing builder-held inventory increased to 1,550 units from 1,020 units a year ago.

“After taking a break in 2013, new condo buyers were enticed back into the market as pricing and incentives became more competitive across a greater selection of available units. The strengthening resale market and tight rental conditions, combined with lowered expectations for interest rates, should keep the new condo market humming in 2015,” said Shaun Hildebrand, Urbanation’s Senior Vice President.

The index for average selling prices reached $560 psf in the fourth quarter, up 3.6% year-over-year, the strongest rate of growth in two years. Pricing for unsold units grew at an annual pace of 2.5% to an average of $579 psf.

On the resale front, sales of condo apartments grew by 14% in 2014 to reach a record high 17,819 units. Average prices were up 3.8% year-over-year in the fourth quarter to an average of $431 psf, or $389,000. Condo rental apartment results recently reported by Urbanation also show a record amount of activity, with the number of units rented in 2014 rising 15% to a total of 22,765, while rents grew by 1% annually in Q4 to an average of $2.39 psf, or $1,816.

 

 

Here is what you can do next:

 

David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

Please contact me direct at 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

CityLights Is Now Available….VIP Prices

Citylights on Broadway

 

 

 

 

 

 

 

Citylights on Broadway is now available.

I am a HUGE fan of the Yonge/Eglinton neighbourhood. I have lived there for 18 years.

The completion of the Eglinton LRT in 2017 will bring people and businesses.

As per usual with any VIP offerings it is first come, first served.

VIP pricing is available to the Client’s of select Realtors ONLY.

The next stage of pricing for the pre-sales will be to online registrants and through the Builder’s sales office once constructed.  At these stages you will see higher prices and floor plans that did not sell in the initial stages of selling.

So….are you ready???

Click HERE for the Brochure

Click HERE for the Floor Plans

Click HERE for the Price List

Click HERE for the Reservation Worksheet

If you are interested in reserving a unit, you have two options:

a) REQUEST A CONSULTATION: We are booking meetings and phone consultations with clients to go over this project.  If you are interested in speaking or meeting with us to discuss this project, David@DavidStoddard.caor call David at (416) 520-6746.

b) RESERVE IMMEDIATELY: If you know which unit you are interested in reserving, kindly download the Suite Reservation Form, and fill out the details (note, we take privacy very seriously and your information will only be shared with the developer).  You may e-mail the worksheet back to us or fax it to 1-866-248-2303. Note the builder has asked that you provide your top THREE selections in case your other choices are sold out.

Toronto Condo Hot List for the Week of February 2, 2015

David Stoddard Condo Tours

 

 

 

 

 

 

 

 

 

Here are my Top Picks for the Week:

 

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1 King St W #2001

Price: $279,900 Beds: 1 Baths: 1 Sq Ft: 545

The Residences at One King West. Architecturally inspiring and ideally located. Tastefully Renovated Suite. Fully Furnished. Corner Suite. Windows In Every Room. Natural Light Galore. Terrific Floor Plan. City Views. 10′ High Ceilings. Shower an…

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625 Queen St E #205

Price: $459,000 Beds: 1 Baths: 2 Sq Ft: 850

Natural Light. 10Ft Ceilings. Master Bedroom With Private Ensuite And Double Closets.Open Concept Floor Plan. West Balcony. Powder Room. Polished Concrete Floor. Inclusions:Stainless Steel : Fridge, Stove, Dishwasher And Microwave/Range Hood. Washer…

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775 King St W #431

Price: $399,900 Beds: 1 Baths: 1 Sq Ft: 727

Spacious 727 Sq Ft With 53 Sq Ft East Balcony. Open Concept Design. Granite Counters. Hardwood Floors. Inclusions: Stainless Steel: Fridge, Stove, Dishwasher, Microwave. Washer/Dryer. All Window Coverings. All Light Fixtures. Parking. Locker. Mainte…

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FOUR Condo Launches to be Excited About in 2015

Below are FOUR projects we are excited about as we get started in 2015.

We select the projects we send to our clients very carefully. ie. location,  pricing, suite floor plans, amenities, Builder reputation.

Our selections sell out very fast.

Please have a look at the list below.

If you are interested in any project simply reply to this email and indicate your preference.

Once I have the pricing, floor plans, brochures etc I will then forward them on to you.

 

Citylights on Broadway

THE PEMBERTON GROUP

Two 34 storey towers coming to 99 Broadway Avenue at Yonge + Eglinton. 392 and 496 units respectively. Developed by The Pemberton Group. Priced from $199,990. Details coming this week.

 

 

                                The Art Shoppe Condos

FREED DEVELOPMENTS

Freed Developments is building three towers above the city-famous Art Shoppe at Yonge + Eglinton. The towers will be 28, 12, and 6 storeys. Two floors of retail and a 12,000 sq. ft. linear park. Pricing starts in the $200,000s.

 

Daniels Waterfront Condos

THE DANIELS CORPORATION

The Daniels Corporation plans to gentrify a 2.8 acre parcel of waterfront property into a mixed-use community. Two towers, expected to be 42 and 32 storeys respectively. A 5 storey podium will house a new George Brown College campus. Official site address is 132 Queens Quay East.

 

Rosedale on Bloor

EASTON’S GROUP OF HOTELS

Easton’s Group is bringing 49 storeys and ~600 units to Bloor + Mt. Pleasant. This is the same builder who developed Dundas Square Gardens, one of our favourite projects in 2014. Rosedale on Bloor will benefit from a $1 Billion gentrification project occurring along Bloor East.

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

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1758 Esterbrook Dr.

1758 esterbrook dr

1758 esterbrook dr

$618,800

MLS: E3108753

GRANDVIEW by Great Gulf Homes is an exceptional neighbourhood.

Built in 2008 on a 4800sf lot, the CRYSTAL MODEL is 3180sf of fantastic living space with thousands $$$ in upgrades. Terrific layout. Sun-light galore with windows in every room. Hardwood flooring. Crown moulding, upgraded trim. Two gas fireplaces.

Chef’s kitchen with a decorator’s touch: Granite counter-tops, tall rich expresso-brown cupboards, two pantries, doubler sink, kitchen island/breakfast bar, designer back-splash, computer station/desk and a gas stove for your cooking pleasure.

Walk-out from your designer kitchen into your fully fenced, professionally landscaped sunny backyard and relax on your interlock patio. Enjoy a dip in your private, heated, salt-water in-ground swimming pool and the convenience of a gas BBQ hook-up .

Two beautiful hardwood staircases to the second floor. The master bedroom has a large walk-in closet with custom built-ins. Spacious 4-piece ensuite master washroom with his and her sinks.

All bedrooms have an ensuite washroom and closets.

Pull up in your double driveway and park in your double car garage. Access from the garage to the house into a main floor laundry room/wet room with sink and storage.

Inclusions: Stainless steel: gas stove, fridge, dishwasher, microwave/hood fan. Front loading washer and dryer. CVAC and attachments. Tankless water heater (rental). All light fixtures. All window coverings including California Shutters. All swimming pool attachments. All patio furniture . Storage box. Custom built backyard storage shed. Rogers smart home technology with remote monitoring and smartphone access to security, thermostat, lighting and two remote cameras. Two gas fireplaces ( master bedroom and main floor floor family room). Central AC. FAG furnace. .

Located in the heart of Oshawa, this exceptional neighbourhood is just minutes from a superb array of amenities and services. Starting with the Legends Centre just minutes away on Harmony Rd. This state of the art complex features a multi-pad arena, swimming pool, water slide, fitness centre, library and more.

Excellent schools and educational amenities, places of worship and support services of every kind. Shopping. Health and Go Transit nearby.

For more information please visit www.1758Esterbrook.com

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

GTA Real Estate Market Report December,2014

Near Record Sales in 2014

 

Greater Toronto Realtors reported 92,867 residential sales through the Toronto MLS system in 2014 including 4,446 residential sales through the MLS in December 2014. The number of transactions in 2014 represented a 6.7% increase over the 2013 sales figure of 87,049 and was just short of the record set in 2007. The number of transactions in December represented a 9.6% increase compared to 4,058 transactions reported in December 2013.

The number of new listings reported in December were down by 9.5% compared to the same period in 2013. Active listings were 10,230 in December-down 10.4% from December 2013.

“TREB’s 2014 sales figures are a testament to the importance GTA households continue to place on home ownership. GTA households realize that home purchases have been a quality long-term investment. While home prices certainly increased substantially in 2014 , the purchase of an average priced home remained affordable, in terms of the average household’s ability to comfortably cover their monthly mortgage payments,” said Toronto Real Estate Board President Paul Etherington.

The average selling price continued to grow on a year-over-year basis in calendar year 2014 with an 8.4% increase over calendar year 2013 to $566,726.

The average selling price in December was up by 7.0% from the same time last year to $556,602.

“The strong price growth we experienced in 2014 can be explained with two words:listings shortage. The constrained supply of listings was especially evident for low-rise home types like singles, semi’s and town houses. The number of households looking to purchase these home types increased, while the number of homes from which they could choose decreased. This situation resulted in more competition between buyers and more aggressive offers,” said Jason Mercer, TREB’s Senior Manager of Market Analyses.

Sales of Toronto (416 area code) condominium apartments increased by 16.1% from December 2013. The average selling price of a Toronto condo increased  by 5.4% from the same time last year to $387,612.

 

 

Condominium apartments accounted for 29.1% of total sales in the GTA for December 2014 while detached homes accounted for 44.4% of the total sales.

Other notable statistics include the average days on the market for December at 32 days, down 3.0%. The sales-to-listings ratio for December was 43.5% which is classified as a 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 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.

 

Another Year, Another Record For Toronto’s Condo Rental Market 2014

Urbanation Inc. (www.Urbanation.ca) , the leading source of information and analysis on the Toronto condominium market since 1981, released its fourth quarter and annual rental market results for 2014 today.

The number of condo apartments rented through the MLS system during 2014 in the Greater Toronto Area managed to top 2013’s breakout year by growing 15% to 22,765 units. Fourth quarter volumes grew by 11%, affirming a relatively slower rate of growth for the market in the second half of the year.

Demand and supply growth were aligned during the fourth quarter as condo rental transactions grew at a similar pace to listings, which increased 10% year-over-year and held the ratio of leases-to-listings to a level consistent with previous fourth quarters at 66%. Supply growth has seen some reprieve over the past six months as the number of new project registrations has scaled back.

Average condo apartment rents grew by 1.0% year-over-year in Q4 to end 2014 at $2.39 per sq. ft.  For the year as a whole, condo rents appreciated by an average of 0.8%, a marked deceleration from the 4.1% rate of growth recorded in 2013 and the 3.7% increase in 2012. The absolute average monthly rent continued its downward trend on account of shrinking unit sizes, declining by 0.7% annually in the fourth quarter to $1,816 — the fifth consecutive quarter of year-over-year declines. Over the past year, the average size of units rented has fallen by 1.5%, or 12 sf to an average of 761 sf in Q4-2014.

“The condo rental market grew into its shoes in 2014. Demand proved strong enough to absorb the market’s greatest amount of new supply in history, while also revealing an equilibrium for rent levels. The rental market’s proven stability and consistent growth is encouraging as we remain in a scenario of high condo completions over the next couple years,” said Shaun Hildebrand, Urbanation’s Senior Vice President.

 

Here is what you can do next:

 

 

Please contact me direct at 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

1 King St W

04 kitchen and entry

12 mbr3

 

$249,900

Ste: 2001

MLS: C3103814

The Residences at One King West. Architecturally inspiring and ideally located.  Tastefully Renovated Suite. Fully Furnished. Corner Suite. Windows In Every Room. Natural Light Galore. Terrific Floor Plan. City Views. 10′ High Ceilings. Shower and Tub. Sliding Glass Bedroom Door. This Unit Is A Perfect Pied-A-Terre Or For A First Time Home Buyer. Just Move-In Or Rent-Out. Great Investment Potential. Rental Income At Approximately $1800 Monthly.

This Condo Includes: All furniture, All Light Fixtures. All Window Coverings. Fridge, Cooktop, Oven, Built-In Dishwasher, Microwave/Fan, Washer/Dryer. Walkscore And Transit Score of 100. Entertainment, Shops, Restaurant, Banks and HWY Access Nearby. Path Access And Subway Access In The Lobby. Rogers High Speed and VIP Cable Package Included.  Residents Enjoy 5-Star Facilities. Concierge. Lobby Bar and Restaurant. Valet Parking. Pay-Per-Use Services. Beautiful Historic Building.

For more information please visit www.1KingSt2001.com

Please contact me direct at 416-520-6746 or by email, David@DavidStoddard.ca

 

Mortgage Rates to Decline Following Rate Cut. It’s Time to Meet…..

TORONTO — Canadian homeowners have likely gained a reprieve from an expected increase in mortgage rates this year.

Economists were expecting rates to dip slightly in response to the Bank of Canada’s surprise move Wednesday to cut its trend-setting interest rate to 0.75 per cent, from one per cent, to soften the blow of dropping oil prices on the Canadian economy.

“This signals that low interest rates will be with us a while longer,” said Avery Shenfeld, the chief economist at CIBC World Markets, noting that the central bank’s rate cut will likely mean a corresponding 0.25 drop in variable, or floating, mortgage rates.

Fixed-rate mortgages are also likely to see a slight decline, as they follow bond yields, which will move lower in response to the rate cut.

However, TD Bank (TSX:TD) was quick to announce Wednesday it will maintain its prime interest rate at three per cent, noting that factors beyond the central bank influence its rates.

“Not only do we operate in a competitive environment, but our prime rate is influenced by the broader economic environment, and its impact on credit,” the bank said in a statement.

Click HERE for the full story.

Now is the PERFECT time to meet with my Team Mortgage Broker for a mortgage consultation.

Home affordability is at an all time low.

Knowing what is required for a successful mortgage application begins many months before your home search begins.

To request a FREE mortgage consultation please click HERE.

 

Mortgage Consultation

 

 

 

 

 

 

 

 

 

 

Please contact me direct at 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

Buying a Cheaper Home Outside Toronto May Not Pay Off

Great article in www.TheStar.com 

Most home buyers say they would prefer to live in a walkable neighbourhood even if it means buying at least a slightly smaller house.

When it comes time to signing on the realtor’s dotted line, however,  buyers still base their decision on the sticker price of the home, choosing a cheaper house over the higher purchase price of a cozy, walkable neighbourhood.

That was the finding of a study released earlier this year by RBC and The Pembina Institute.

Now the bank and sustainability think-tank have followed that research with a report illustrating how the cost of that cheaper home shakes out if the purchaser factors in the cost of transportation in the Toronto area.

“People will often choose to drive as far as it takes to qualify for a mortgage. But once they get there, the actual costs undermine the lower cost of the house,” said Pembina’s Ontario director Cherise Burda, who co-authored, “Location matters: Factoring Location into Home Buying Decisions.”

The report uses data from four real-life home buyers to provide hypothetical real estate and commuting scenarios in five different suburban and downtown locations for each purchaser.

Derek Durham is one of them.

Click here for more.

 

Here is what you can do next:

 
David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

 

Please contact me direct at 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.​

What Online Dating Can Teach You About Selling Your Home

Great article in http://RealtyTimes.com

Online dating is big business, with 5.5 million users actively looking for love each day. Thirty-three percent of couples meet online today and 120,000 U.S. marriages every year, according to Blue Water Credit. And those numbers are growing exponentially every day. But that doesn’t mean everyone who’s online knows what they’re doing. Don’t believe us? Check this out (Warning: some inappropriate language and content).

So what can online dating teach you about selling your home? A lot, surprisingly.

 

Be Smart

When you create a dating profile, you’re trying to capture the essence of your beauty and personality. Apply the same principle to your home for sale. If you’re not certain what your home’s best features are, your agent will surely tell you. You may also want to ask a good friend to come give an opinion. Then, emphasize the good stuff while deemphasizing the not so good.

 

Spruce it Up

You wouldn’t go on a date wearing tattered or stained clothes, so don’t show your house with tattered or stained furnishings. If your couch has seen better days, a throw rug and a few pillows may be all you need to disguise the damage.

Stained carpets? Try steam cleaning first. If that doesn’t work, get an inexpensive area rug. Worn tables? Cover them with a stylish tablecloth.

 

Be a Little Coy

Don’t be afraid to go for it with a bit of flirtation. Just like a dating profile that insists on lifelong celibacy or is aggressively chaste may not attract the right attention (and the same certainly goes for those that go waaaaay beyond flirtation), a home that shows blah and boring probably won’t garner much notice.

“Popular wisdom says that when you put your home up for sale, it should be made to appear as bland and beige as possible,” said The Kansan. “Well, like a lot of popular wisdom, this idea is only partially true. A low-key look helps potential buyers to envision how their own possessions will fit into the house, but a dash of zest will help your property to stand out from the crowd…in a good way.

Take a sexy pool shot with the fountain going. Transform your boring bed into a hotel masterpiece with pillows and turned-down bedding. Add a little sparkle to your dining room table, your fireplace, your sideboard. And for open houses, appeal to the senses with a sparkling clean home, soothing music in the background, and chocolate chip cookies freshly made in the oven.

Click here for more.

Here is what you can do next:

David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

Please contact me direct at 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.​

Toronto’s Condo Market in 2014 – A Year in Review

Great article in www.MoveSmartly.com

As a follow up to my previous post which looked more closely at the market for houses in 2014, this week I’m going to look at Toronto’s condo market in 2014. I’m going to look at some of the bigger metrics (sales, new construction completions etc) to see how the market performed overall. I’m also going to dig a bit deeper into some interesting trends that we’ve been tracking over the past couple of years. There are a lot of rumours, fears and assumptions about what’s really going on in Toronto’s condo market which is why looking at the data is critical. The numbers don’t lie and by looking at data the right way we can get a better sense of what is really happening.

Record Completions

2014 was a big year for Toronto’s condo market. The Greater Toronto Area saw the highest number of condo completions ever in 2014 with Realnet reporting 19,722 new condo completions in the first 9 months alone (fourth quarter numbers are not available). This surpassed the previous annual record of 16,668 completions set last year.

While it’s important to track the number of condo completions each year, it’s arguably more important to track how the market reacts to this new inventory. By that I mean, what happened to these 20,000 newly completed condos in 2014? Were they all flipped on closing for a profit? Were they all bought by end users who just moved into their units when they took possession? Were they bought by investors who listed them for rent as soon as they were completed? These questions matter because the answers to them can tell us whether the market is performing well or whether we are starting to see troubling signs.

As an example, one of the biggest arguments made by people predicting a crash in the condo market is that our market will be unable to absorb the “unprecedented supply of new condos in the pipeline”.

This on the surface is a pretty reasonable concern and even one that I myself have had over the years. If I told you that in any given year we can expect to see just over 40,000 resale condos listed for sale in the GTA most people would be concerned about the impact that an additional 20,000 newly completed condos might have on the market, in particular if many of those owners decide to list their condos for sale.

Click here for more.

 

Here is what you can do next:

 
David Stoddard Buyer Planning Sessions

 

 

 

 

 

 

 

 

 

Please contact me direct at 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.​

Toronto Condo Hot List for the Week of January 5, 2015

David Stoddard Condo Tours

 

 

 

 

 

 

 

 

 

Here are my Top Picks for the Week:

 

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18 Stafford St #103

Price: $364,900 Beds: 1 Baths: 1 Sq Ft: 750

Open Concept with an East Facing Terrace. Natural Light Galore. Laminate Flooring. Inclusions: Fridge, Stove, Dishwasher, Microwave. Stacked Washer And Dryer. All Light Fixtures. And Window Coverings. Alarm System. Parking. Locker. Maintenance Fee $…

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33 Harbour Square #1630

Price: $314,800 Beds: 1 Baths: 1 Sq Ft: 547

Harbourfront Living. Steps From The Boardwalk. High Demand Building At The Foot Of Bay St. Freshly Painted, Open Concept 547Sf Condo. Natural Light Galore From The Double Juliette Balcony Doors . Quiet Courtyard Exposure.Terrific Ensuite Storage Wit…

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70 Roehampton Ave #2212

Price: $450,000 Beds: 1 Baths: 1 Sq Ft: 650

“The Republic” By Tridel. Unobstructed East View From The Balcony. Hardwood Floors. Granite Counter-tops. 9 Foot Ceilings. Open Concept. Terrific Natural Light. Inclusions: Stainless Steel: Fridge, Stove, Dishwasher, Microwave. Stacked Washer/Dryer….

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630 Queen St E #203

Price: $429,900 Beds: 1 Baths: 1 Sq Ft: 750

Sync Lofts In The Core Of Leslieville. Stunning 8-Storey Boutique Style Condo On Queen Street East. This 1 + 1 Bedroom Unit Is Sure To Satisfy! Hardwood Throughout. Master Suite With Adjacent Studio Den On-Looking Large Terrace With Gas B-B-Q Hook-U…

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