July 2016 stats are in and this report’s featured photo represents the emotions of Toronto’s buyers trying to get in on the home-owning action!  The hopelessness of winning the top bid at the offer table, the despair of FOMO (fear of missing out), the angst of a never-ending search SOLO (stress of losing out).  Here’s why the deck is stacked against them:

*Sales UP by only 1.8%  reached almost 10,000 units but the LION’S SHARE took place in 905 where there is still (some) supply!  Sales for detached homes, for example, took place outside the city at a ratio of 4:1!

*But Average sale prices in the GTA are UP by 17% compared to last July to $710K  A scorching stat!

*Total listings DOWN by 32% …another scorching stat!

*And average days on market DOWN by 27%…to SIXTEEN DAYS across the entire GTA!

 This was one HOT HOT JULY in the Toronto Real Estate!!!SOLD OVER ASKING

July 2016 Average sale price for a detached home in the city is now over $1.2ML (almost $2ML in the core)

You will have to pay on average $856K for a semi ($1.1ML in the city core)

Condos in the city are now at $427K in the city, an 8% increase over last year! ($580K downtown)

August should ‘cool down’ but only because supply will be so poor and I think buyers will try to take a break and demand will therefore soften.

When you need some real help with your real estate decisions, (and you will need some help), feel free to connect.  I’m confident I can guide you safely and carefully through these “frothy” real estate waters!  I did for my clients who actually bought their homes in JULY 2016, and I can for you.



My Clients Have the FIRST word and the FINAL say!

“We got it! We got it! The house of our dreams! It’s officially OURS! Thank you Jill! If anyone needs a killer, no BS realtor in Toronto, Jill Lubinski is your woman!”

- Kate Akman

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