LOIC DANIS

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Sutton Group Old Mill Realty Inc. Brokerage | Independently Owned + Operated. | 4237 Dundas St West |
Etobicoke ON | M8X 1Y3

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MARKET UPDATE | MAY 2022

6/3/2022

 
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➕‘the numbers’ for May are in.  Toronto real estate market conditions continued to evolve in response to higher borrowing costs and other market influences. Similar to April results, May 2022 sales were down on a monthly and annual basis.


While May technically remained a ‘sellers’ market when looking at the entire month, the more balanced market conditions have provided active buyers with more negotiating power.  Moreover, month over month trends indicate an official ‘balanced’ market is on the horizon, if not already arrived.


The current rate tightening cycle has changed market dynamics, with many potential home buyers putting their purchase on hold for now.  As home buyers adjust to higher borrowing costs, demand for housing will be supported by low unemployment, rising incomes and record immigration.


For Sellers, market conditions remained tight enough to support year over year gains in average selling prices in the ‘416’ including detached houses [+12%], semi-detached houses [+8%], townhouses [+11%] and condos [+11%] vs. 2021.


Looking to buy or sell a home in Toronto? Average prices in May were as follows:


➕Detached $1,914,890
➕Semi-detached $1,426,273
➕Townhouse $1,045,874
➕Condo $793,124
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Data presented is for Toronto Only.   Source: TRREB.
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JUST LISTED | 657 CRICKLEWOOD #516

5/5/2022

 
Nominated by the Canadian Home Builders' Association for Best New Community, "The Reserve" By Queenscorp is a sophisticated enclave of hIgh-end townhomes with quality finishes in prestigious East Mineola. Spacious and bright with extra windows - 657 Cricklewood Road #516 is an open concept, corner suite featuring 9ft ceilings, granite countertops, a large island with breakfast bar, main level powder room and a private 430 sq.ft. rooftop terrace. The second level includes a spacious primary bedroom and primary ensuite, a second bedroom, currently used as an office, second full bathroom and convenient laundry room. The oversized rooftop oasis includes a gas BBQ hookup and Napoleon BBQ, plenty of room for entertaining and a convenient water hose for the urban gardener.  Ample underground visitor parking.  Walk to schools, community centre, parks and waterfront.  Minutes to Port Credit marina. Easy access to downtown Toronto via QEW or GO. Upcoming Hurontario LRT from Port Credit to Brampton.   
More Info + Virtual Tour

MARKET UPDATE | APRIL 2022

5/4/2022

 
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➕‘the numbers’ for April are in. The Bank of Canada’s goal of slowing consumer spending is reflected in this month’s Toronto Real Estate market statistics with transactions down vs. last month [-6%], and last year [-36%]. Consistent with historical rate tightening cycles, the recent sharp 0.5% rate hike has prompted some buyers to delay their purchase. However, despite the lower volume, market conditions remained tight enough that the average selling prices in April grew by double digits vs. last year, and it is expected that the supply/demand dynamic will remain competitive enough to support price growth vs. 2021, but the rate of increase will moderate in the coming months.
Specifically, properties in the ‘416’ area code realized gains in average selling prices for detached houses [+15%], semi-detached houses [+14%], townhouses [+15%] and condos [+13%] vs. 2021.
Looking to buy or sell a home in Toronto? Average prices in April were as follows:
➕Detached $1,947,975
➕Semi-detached $1,494,640
➕Townhouse $1,086,986
➕Condo $820,835
Data presented is for Toronto Only.   Source: TRREB.
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JuST LISTED | 257 ROXTON ROAD

5/3/2022

 
Rarely available executive freehold townhouse in vibrant Little Italy! Minutes to Trinity Bellwoods + Ossington Village. Architecture By Richard Wengle & Interior Design By Cecconi Simone. Just under 3,000 sq.ft. of living space including a legal, fully separated basement apartment that can easily be converted back into a single family dwelling, or keep as additional income stream. Entertainers delight on main level, complete with an open concept living-dining-kitchen, powder room and walk out to back deck with private pergola. High end kitchen with Miele appliances and extended island. Two large bedrooms on the second floor, each with a private ensuite bathroom, separated by a home office. The third floor showcases a luxurious primary bedroom retreat including a huge built-in closet of over 20 linear feet!  Complete with spa like bathroom including soaking tube, spacious glass shower and double vanity. Too many upgrades, see attached list for more details. Steps to trendy Cafes, Shops, restos.
Virtual Tour + More Info

MARKET UPDATE | MARCH 2022

4/5/2022

 
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​➕‘the numbers’ for March are in.  Market conditions remain tight across all home segments however with more Sellers returning to the market vs. the preceding nine months, some Buyers may not have experienced the same level of competition on offer night. The possibility of more moderate price growth in the future could be realized if new listings continue to climb in the months to come.  That said, current demand continues to exceed supply especially in some neighbourhoods, and price growth remains in the double digits vs. March 2021.   

Specifically, properties in the ‘416’ area code realized gains in average selling prices for detached houses [+10%], semi-detached houses [+20%], townhouses [+16%] and condos [+17%] vs. 2021. 

Looking to buy or sell a home in Toronto?  Average prices in March were as follows:

➕Detached  $1,920,018
➕Semi-detached  $1,545,447
➕Townhouse $1,117,469
➕ Condo $831,351
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    LOIC DANIS

    Loic Danis is a Toronto Real Estate Broker and Broker of Record/Owner of Sutton Group Old Mill Realty Inc. specializing in residential and investment real estate in Downtown Toronto, Etobicoke + West Toronto neighbourhoods including The Kingsway, Babypoint, Sunnylea, Swansea, Roncesvalles, High Park, Swansea, New Toronto, Mimico, Waterfront Communities, Yorkville, St. Lawrence Market, Bay Street Corridor and more! 

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LOIC DANIS
Broker of Record

Direct | 416-671-0300
Office  | 416-234-2424

Sutton Group Old Mill Realty Inc.
Independently Owned + Operated

CONTACT LOIC

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