UNDERSTANDING THE NEW TORONTO REAL ESTATE MARKET

Understanding Toronto's Changing Real Estate Market

"Never has the lower end been easier to sell when the next level has dropped in price"

First of all, real estate is not ONLY all about economics as most economists would have you believe. Real estate is still about accommodation. You can get out of the oil, gold, or stock markets but you cannot escape the need to have a roof over your head. Most sales transactions occur because of a change in family circumstances - marriage and divorce children and even death. So there is always going to be an active real estate market.

Secondly, the BUY versus Rent option that economists keep talking about is not an option for most of us. Already 68 per cent of Canadians own their own home. If everyone tried to rent, how would that work?

And if you see most of the rental stock, most Canadians would rather live in their CAR!

This market is a great time for "move up" buyers.

While prices are softening at the high end,450,000 and up
The strongest part of the market is at the "entry" or first-time buyer level. Move up buyers have a great selection and can negotiate the price of their new property while being assured that there is demand for their current one.

Call for Great Advice in this market with

* Properties without a mortgage

* Up Coming purchased units in New Developments

* Where Downsizing Makes sense

* Purchasing Properties at the bottom of the Market

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Six50King West

In the 416 area, homes are currently selling for an average of $400,305 from the $432,972 average recorded during the same time period in 2007. An average price of $383,029 was recorded in the first two weeks of November 2006.
TREB

1170 Bay Street Unit 110
Toronto Ontario M5S 2B4
Direct: 416-917-4007