The PDF report of this will look a lot different and a lot more aesthetically pleasing, however you will get the idea from this blog post. The graphs that follow show market conditions and tell quite a story. More on that a little later.
Did you know that you can get these graphs for your individual neighbourhood? No matter where you are in the Greater Toronto Area, whether you are in a condo, a house, semi-detached, detached or any other property style or configuration, these graphs are available. I have them set up in a manner that, not only can I send you this narrowed down based on the area, but also based on the property type. So if you live or own a semi-detached, then you can request a report just for that property type. Or better yet, if you live in a semi but wish to sell and buy a detached, then why not get a report for both property types? That will impart a deeper understanding of where you are and where you need to be.
Now the all important question: How do you get these reports? All you have to do is send an email to firstname.lastname@example.org
Let’s see what these graphs tell us.
The horizontal axis shows the year. In our case, the data is being shown over the years starting from 2008 to the current time period. As you can see from the first graph, the sales have dropped in the Toronto area. In recent years, this is because the number of new listings on the market have dropped too. Less to buy from means less to sell. Pretty simple isn’t it. However when you compare the 2008/2009 numbers on these two graphs, you see that the sales were higher even though there were not many new listings coming on the market. How is that possible? Well because there were already a lot of product for sale on the block. And this we can see from the number of active listings from the Active Listings chart (#3 in this blog).
The last one is easy to explain; the prices have consistently gone up since 2008. Important: The property prices Average Price doesn’t exactly move up as shown here for all property types. So if you are a Seller looking to benefit from the price increase, then may be once you sell your home and rake in the dollars, you buy in a segment that hasn’t gone up that much in the recent time, say condos. This is a segment that will take off very sharply in the coming years. Watch out for that.
The other option is to take advantage of the price increase and use your home’s equity to invest into another real estate. Keep in mind, real estate is not ‘one size fits all’. The approach and strategy will change based on your current situation and your future earning potential. The best thing to do is to talk to a professional REALTOR.
Formally educated as an Architect, Jagdeep Singh is Toronto REALTOR™ consulting on both resale real estate and new developments. Powerful Local Focus on Real Estate with a Global Perspective™. This post is for information purposes only. Though effort has been made to ensure the accuracy of the contents, the reader is advised to verify the information independently. This post may contain contain information that is privileged, confidential and exempt from disclosure under applicable law. The reader is not allowed to reproduce it in any medium without the author’s prior written permission. Jagdeep Singh is a broker with Century 21 Heritage Group Ltd., brokerage (416) 798-7133 which is independently owned and operated. This message is not intended to solicit parties currently under contract.