Presented by Chestnut Park Real Estate, Limited.
The November market report has basically written itself. It is another month with results almost identical to the preceding eight months. Sales were up substantially compared to November last year, and similarly average sale prices also rose.
Specifically, sales rose by almost 15 percent compared to last year, from 6,206 to 7,090 this November. The average sale price rose over 7 percent, from $787,349 last year to $843,637 this November. These are greater Toronto and area numbers. In the City of Toronto the average sale price rose to a stunning $910,419. This number is stunning for two reasons: it includes all condominium apartment sales, and secondly, it is approaching the record high average sale price achieved in March 2017, before the implementation of the foreign buyers tax and the mortgage stress testing which took effect in January of 2018.
There are two stories that emerge in the November residential resale data. Firstly, the concern about supply. In November only 8,650 new properties came to market. This compares very poorly to the 10,538 that came to market last year, a shocking 18 percent decline. Even more concerning is the available supply as we move to the end of 2019. At the beginning of December there were only 11,958 properties available, in the entire greater Toronto area, for buyers to inspect and purchase. Last year, and this number was low, there were 16,420 available properties. That means the available inventory has declined by almost 30 percent on a year-over-year basis. On a months-of-inventory analysis, there are only 2.2 months of inventory for the greater Toronto area, and only 1.8 months for the City of Toronto. It is not surprising therefore that all properties that came to market in November sold in 24 days and for 99 percent of their asking price (100 percent in the City of Toronto).
The second story that immerges, and one much more positive than the first, is the resurgence of the 905 region residential marketplace. Following the implement of the foreign buyers tax in April 2017, the 905 region resale marketplace came to a standstill. It remained stagnant until the mid-point of this year, when signs of life appeared. Detached property sales rose by almost 28 percent in November, while townhouse sales increased by almost 22 percent. Detached and townhouse property sales in the 905 region accounted for almost 50 percent of all sales achieved in the greater Toronto area in November.
Notwithstanding the surge in 905 region sales, average sale prices in the 905 region are still low compared to the City of Toronto
As we head to the end of the year, demand in the greater Toronto area remains strong, even though average sale prices are approaching record highs. The concern is and will be supply. With only 11,958 residential properties available to buyers, all eyes will be on the new supply that comes to market in 2020. Hopefully the record average sale prices will cause sellers to capitalize on the strong value of their properties, motivating them to bring them to market.
Prepared by:
Chris Kapches, LLB, President and CEO, Broker
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There are rooms with a view, and then there are bathrooms with a view. What better way to end your day than in this freestanding tub.
Design @candaceplotzdesign
Photo @patrickbiller
Builder @jeffery_homes
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It’s no secret that green has been trending in a major way lately. Not only does the leafy shade conjure the sensation of being outdoors after two years cooped up at home, it also is a versatile (and welcome) alternative to traditional colors like white and gray.
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The kitchen is the heart of the home 🤍
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For Sale: 334 Metro Road N, Georgina
Sweet 3 bedroom home that has a light and airy feel to the interior. Vaulted ceiling with open concept design creates a welcoming feel with plenty of natural sunlight all afternoon. Hardwood floors in bedrooms. Updated interior ready to be moved in to. It is a special place to call home or cottage.
Large wrap-around deck features West-facing views of 2-acre park of which you would be a 1/10th owner. Private dock for all park owners. Deeded Lake Simcoe access is rare to find. Very private setting with mature trees.
$964,000
Message us today for more information or to book private showing.
staging by @chateau_designandstaging
photography by @ishutterphoto
#lakesimcoe #lakesimcoerealestate #georginaontario #keswick #lakehouse #lakehousedecor #cottageinterior #cottagestyle
20 Quiet Heights Lane, Georgina provides views of the lake from all spaces on the west side of them home, including the great room, kitchen, dining area, and primary bedroom.
You will enjoy the morning sunrise from the front covered porch and of course, sunset views from the lakeside. The natural sunlight fills the home with warmth and light all day long. It’s tranquil, serene, and welcoming.
In the design stages, the current owner had some important “must-have’s” including a Muskoka like feel, spaciousness, sun-filled rooms, and an “understated elegance“ carried throughout the home.
Some of the interior features include:
– 3 bedrooms on main level and 2 additional bedrooms on the lower level
– 3 full bathrooms plus powder room
– 10.9 ft ceiling height on the main level and 9 ft ceiling height on the lower level
– Great room includes custom millwork and 13 ft vaulted coffered ceiling
– Gourmet kitchen with upgraded appliances
– Spectacular light fixtures including ceiling fans in each bedroom
– Custom drapery and blinds
– Radiant heated floors in kitchen, primary ensuite and the entire lower level
– Surround sound system both indoors and outdoors
A full list of room features, additional images, virtual tour, and more can be found on our website (link in bio).
This listing is also available on realtor.ca (MLS# N5657656)
Listing Price: $1,935,000
DM us to book a private viewing.
Photography @ishutterphoto
Staging @chateau_designandstaging
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Just Listed: 20 Quiet Heights Lane, Georgina.
When you combine the attention to detail of a quality builder with the owner’s vision to create a sanctuary home, the result is spectacular.
This home offers a “Zen” feel immediately upon your arrival.
The landscaping is wonderfully appointed with a collection of perennial gardens, shrubs, mature trees and privacy hedges on both sides, which is home to many birds. There are several seating areas promote great conversation with family and friends or a place to enjoy some quiet time when you want to be alone and enjoy nature all around you.
This is a wonderful home to entertain in both indoors and outdoors. The raised balcony includes a covered area where you can enjoy a summer rain shower. The open area provides lots of space for your chaise loungers to get some sun and watch an array of boats on the lake.
The lower deck is covered and a perfect location for the 7-seater plus lounger hot tub along with another separate seating area to enjoy the lake views.
Listing Price: $1,935,000
DM us to book a private viewing.
The full listing can be found on our site & on realtor.ca (MLS# N5657656)
Photography @ishutterphoto
#lakesimcoe #lakesimcoerealestate #georgina #georginarealestate #keswick #lakeviews #custombuild
We just published our May 2022 Condo Market Report, presented by @kw.condos
Find it on our Blog. Link in Bio.
#kitchenerrealestate #waterloorealestate #cambridgerealestate #guelphrealestate #condomarket #kitchenerbusiness #guelphbusiness #kitchenerwaterloo
332 Blanche Street, Sarnia. #justlisted
This charming 3+1 bedroom century home is located in an established area of Sarnia offering lovely streetscape, large mature trees, wide streets and boulevards.
The family have maintained the home and updated the interior features over their many years living here since 1975. The shingles were replaced in 2022. There were two additions including a a two-storey addition with a large family room, sun room and additional bedroom on the 2nd floor.
There is lots of space to entertain family and friends. The living room includes a gas fireplace and overlooks the formal dining room. The sun room includes a gas fireplace, large windows and double patio doors.
The oversized fully finished & insulated 3-car garage includes an upper level coach house which is completely finished. This is a great space for extended family and serves as an in-law suite or potential income if approved by the City as an auxiliary dwelling.
The mature front yard boasts beautiful mature trees, gardens and a seating area. The backyard has a large paved courtyard and provides parking for 3 vehicles.
$645,000
PM is to book a showing today.
Staged by @chateau_designandstaging
Photos by @ishutterphoto
#sarnia #sarniarealestate #centuryhome #traditionalhome
Backyard views from 216 River Birch St, Kitchener.
Open House Sunday June 5 1-4PM
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216 River Birch Street is now live on MLS. Located in the hills of Hidden Valley, nestled amount some of the finest homes in Waterloo region.
Open House Sunday June 5, 1-4PM
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