Yes, this is Toronto! The Spring Equinox brought a long awaited wave of warmth and a burst of beauty with it. A list of sun-loving flowers is posted on the DCT Blog to help you plan your garden.
Sellers ready to put a sign on the lawn before March break had a positive jump on the Spring market. The lack of inventory had buyers lining up for open houses and offering beyond sellers' expectations. Sale-to-list price sales in February were at 100% for the first time since June 2022. If you are considering making a move now would be a good time to discuss your options. We can help you declutter, repair, stage, sell and plan your next chapter.
February GTA market stats revealed year-over-year new listings were down 40.9%, sales were down 47%, and the average price was down 17.9%. Month-over-Month however sales were up by 54.3% from January, new listings were up by 8.8% and the average sales price was up by 5.4%. A breakdown of GTA condo and home style stats is listed below.
We are not seeing the distress sales previously predicted. Similar to deferred payments during Covid, banks have worked with struggling variable-rate clients to keep them in their homes. CIBC reported that 27% of their mortgages now have 35-year amortizations. Mortgage broker David Laroch explains why the global financial shakedown may induce mortgage rate cuts sooner than expected.
Now for a little Real Escapism, this month we've included a Georgian Bay Island cottage for a glimpse of glorious Canadian lake property. Our associate Shawn Woof will be at the Cottage Show this weekend and can help you find your lakeside dream. Email us today for FREE COTTAGE SHOW TICKETS this weekend.
For our friends celebrating Ramadan, Ramadan Mubarak.
Here's to more Vitamin D and a strong spring market!
Linda, Lisa Marie, Lori and Cherry
GTA Real Estate Board Stats
WHERE'S MY RATE DROP?
The inflation debate has suddenly taken a backseat to concerns about systemic financial risk in both the US and Europe. With fixed rates tied to bond rates does this mean we may see rate cuts in 2023?
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OUR LISTINGS
25 Berryman Street
Yorkville Four Bedroom Victorian with Lush Private Garden
Back To Market With New Price!
Public Open House Sat. April 1st and Sun. April 2nd - 2 to 4 pm.
For your private viewing please call today.
Features and 3D Tour
1 Balmoral Avenue, Suite 704
2 Bedrooms. Walk to Yonge, St. Clair, Summerhill, Bloor, Yorkville, TTC.
NEW PRICE - $998,000
Offers gratefully accepted Wednesday, March 29th at Noon.
Features and 3D Tour
181 Bedford Suite 2507 - Coming Soon
Annex 3 Bedroom, 4 Bathroom Condo
with 2 parking and Panoramic Sunset Views
FOR LEASE - $10,750
REAL ESCAPISM
Georgian Bay Island Elegance
Canadian Dream
THE COTTAGE LIFE SHOW
Enjoy 2 Complimentary Tickets to the Cottage
Life Show
*Tickets for clients/friends only, please. Sorry agent friends. :)
Our Cottage Connection
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The Doorey Chu Team's vast network of relationships with agents can assist you to search for or sell properties worldwide. Sotheby's International Realty listings can be viewed in multiple languages and currencies.
International Listings
Whether we are marketing a $500,000 or a $5,000,000 home, the Doorey Chu Team will provide you with the largest scope of Sotheby's International Realty marketing reach plus a professional report with your property results. Call us for your confidential complimentary home appraisal.
THE 20 BEST ANNUALS FOR SUN
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