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Louisa Baumander Toronto Real Estate
Louisa Baumander
Sales Representative

Toronto Real Estate
Homes & Condos For Sale

Louisa Baumander Toronto Real EstateSotheby's International Realty Canada, Brokerage
1867 Yonge St. #100
Toronto ON M4S 1Y5

416-960-9995

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Sep 18, 2014
Posted by: louisa
Hello again.

I had the very good fortune last week to attend the Sotheby’s International Realty Networking Event in Miami. There are 700 offices in 49 countries all proud to be a part of the incomparable vision of the Sotheby’s brand: “Artfully uniting extraordinary homes with extraordinary lives”.

Summary of Toronto MLS Sales and Average Price August 1-31

Winebulance
One of the key speakers was Pat Riley, possibly the greatest NBA coach of all time. He was so humble in the telling of his story and reminded us that we all lead extraordinary lives. Our homes are extraordinary to us, having sheltered so many memories of holidays, family gatherings, joys and sorrows.

While we are a brand known for luxury, our focus is providing an extraordinary customer service in any price range. The conference was inspiring and uplifting and has certainly upped my game. If you know someone who plans to sell or buy a home, please introduce me so that I can provide them with unsurpassed customer service.

Summer seems to be a dream now. It went too quickly! Although not officially over until the 21st, September has brought with it a very fast market.

Yesterday evening, I found myself again being one of four agents presenting an offer on a house. This is way better than as happened in the past of being one of seven, or one of fifteen agents. I was struck by the terminology we use these days: bidding “war” “bully” offer. The common marketing strategy is to price low, have an offer date 7-8 days from when the listing appears, and wait for the offers to come in. Doesn’t really seem to take a lot of skill, does it? I am reminded of the way the Brits do it: “offers in the region of...” “suggested offering price”.

It’s still of utmost importance for a homeowner or homebuyer to request a thorough Comparative Market Analysis (C.M.A.) Priced too low, money can be left on the table. Priced to high, a listing will just sit and buyers will wonder what is wrong with the house. Once the CMA is fine-tuned, sellers then can have the option of pricing as a result of recently sold houses, pricing in accordance with what is currently on the market, pricing low, and pricing high with the option of a price reduction at a

And if a buyer purchases for a price higher than has sold recently in any given neighbourhood, that buyer may be left having to come up with additional funds because of a mortgage shortfall.

On to condos: Mark Weisleder, well known real estate lawyer, has written an informative article on Condo Insurance Deductible. Click here for the full report. Condo owners still have to pay for part of any damage caused by a fault in the corporation property (water pipes, windows etc.) even though they may have done nothing to cause the damage.



Toronto Real Estate Market Statistics


Across the GTA, 3,297 homes sold via MLS during the first 14 days of September. This is an increase of 8.3% when compared to the same period last year. Over the whole year so far, sales are up by 6.6%.

The average sale price was $555,890, up 8.1% when compared with the same period last year. As always, detached and semi-detached showed the biggest price gains.. Over the whole year, prices are up by 8.5%. This amount is average, The increase has been far greater in popular areas such as along the Danforth, or in the now “hot” Junction

Here are a few statistics of my own for sales September 1st to 18th. All Averages. General areas. If you’d like specific numbers, let me know. I love stats.

FREEHOLD

C01: 24 sold. 104-108% of asking. Average sold price: $1,059,011. 8 days on market.
C02: 19 sold. 103% of asking. Average sold price: $1,648,921.00. 8 days on market.
C10: 8 sold. 107% of asking. Average sold price: $968,600.8 days on market.
C13: 24 sold. 104% of asking. Average sold price: $1,151,338. 9 days on market.
E01: 40 sold. 107% of asking. Average sold price: $739,856. 7 days on market.
E03: 43 sold. 106% of asking. Average sold price: $647,147. 7 days on market.
W02: 32 sold. 106% of asking. Average sold price: $870,890. 7 days on market.
W06: 26 sold. 101% of asking. Average sold price: $657,426. 12 days on market.

“Average prices in the low-rise market segments, including singles, semis and towns, continued to experience the impact of strong competition between buyers. It is also clear that while the condo apartment market segment remains comparatively better supplied, there are enough buyers relative to available condo listings to prompt very strong average price growth for this type of ownership housing as well,” said Jason Mercer, TREB’s Director of Market Analysis

CONDOMINIUM

C01: 1 bed, 1 bath, 1 parking: 20 sold. 98% of asking. Average sale price: $347,430. 20 days on market.
C02: 2 beds, 2 baths, parking: 4 sold. 99% of asking. Average sale price: $731,875. 12 days on market.
C07: 2 beds, 2 baths, parking: 7 sold. 100% of asking. Average sale price: $427,829. 12 days on market.
C08: 1 bed, 1 bath, parking: 6 sold. 98% of asking. Average sale price: $378,667. 21 days on market.
C10: 2 beds, 2 baths, parking: 2 sold. 104% of asking. Average sale price: $545,500. 21 days on market.
W02: 2 beds, 2 baths, parking. 4 sold. 101% of asking. Average sale price: $476,750. 7 days on market.

That’s all for now! Thanks as always for your support in my business. Your referrals are made of GOLD

Louisa