Real Estate

Locked: When will we know that TO/GTA real estate has bottomed?

  • Last Updated:
  • Mar 16th, 2018 10:50 am
[OP]
Jr. Member
Jun 8, 2017
125 posts
171 upvotes
yeonnie wrote:
Feb 13th, 2018 10:36 am
Congrats. But I think you could have saved a couple hundred thousand (minimum) if you waited til later in the year. You know how long it takes to save 200K? Scary long. Primo locations tho.
You're probably right, but price is not the only consideration. I thought it would take longer to find the right house, but a great house that hit all the marks came up that we could afford. Narrow window opened, we jumped in head first. No guarantee that the same type of home would come up in 8 mos, even if prices are cheaper. Long term domicile, so how much we love it trumps saving a few hundred K. Again, the key is we could afford it.

Builder's lots that went for sick prices recently, 12 Jainey Pl and 107 Munro Blvd (Cricket Club and St. Andrews). Hard to compete with hardcore builders with deep pockets.

147 Munro Blvd just came to market. Solid house for anyone looking in this area. Thinking that it will go way above ask considering recent sales 107 Munro Blvd and 36 Danville Dr (2.5M and 2.35M).

Didn't buy in Earl Haig district. Seems like the school is busting at the seams. Still love the area though, especially close to Bayview Village.

Thanks for the words of congratulations.
Deal Addict
Jun 11, 2005
2512 posts
248 upvotes
inferiorplanet wrote:
Feb 13th, 2018 3:31 pm
You're probably right, but price is not the only consideration. I thought it would take longer to find the right house, but a great house that hit all the marks came up that we could afford. Narrow window opened, we jumped in head first. No guarantee that the same type of home would come up in 8 mos, even if prices are cheaper. Long term domicile, so how much we love it trumps saving a few hundred K. Again, the key is we could afford it.

Builder's lots that went for sick prices recently, 12 Jainey Pl and 107 Munro Blvd (Cricket Club and St. Andrews). Hard to compete with hardcore builders with deep pockets.

147 Munro Blvd just came to market. Solid house for anyone looking in this area. Thinking that it will go way above ask considering recent sales 107 Munro Blvd and 36 Danville Dr (2.5M and 2.35M).

Didn't buy in Earl Haig district. Seems like the school is busting at the seams. Still love the area though, especially close to Bayview Village.

Thanks for the words of congratulations.
Congrats on your purchase! Which pocket did you buy in, if you don't mind me asking? Did you buy the house on Dinnick? :)

Munro is a good street, and 147 is on the cul-de-sac end... so in theory should fetch good money. 106 Munro went for something like $2.6M-2.8M in June 2015, IIRC.
[OP]
Jr. Member
Jun 8, 2017
125 posts
171 upvotes
Preferred school district was York Mills CI = )

Price and inventory/sales stats on Zolo continue to surprise me,

https://www.zolo.ca/toronto-real-estate/trends

Really didn't think I would see those trends for first couple of months of 2018. Seems like those who held back second half of 2017 (and were not impacted by B20) jumped into the pool in Jan like us. Still think that supply will be coming on-line at a fast pace from now through Spring, especially since prices are holding up/increasing in some pockets. Time will tell how much of that supply can be absorbed...
Deal Addict
Feb 22, 2011
4146 posts
3771 upvotes
Toronto
inferiorplanet wrote:
Feb 14th, 2018 10:02 am
Preferred school district was York Mills CI = )

Price and inventory/sales stats on Zolo continue to surprise me,

https://www.zolo.ca/toronto-real-estate/trends

Really didn't think I would see those trends for first couple of months of 2018. Seems like those who held back second half of 2017 (and were not impacted by B20) jumped into the pool in Jan like us. Still think that supply will be coming on-line at a fast pace from now through Spring, especially since prices are holding up/increasing in some pockets. Time will tell how much of that supply can be absorbed...
I think it'll be segmented. Looking at new listings for condos and they appear to be down significantly at the moment, with prices trending up. This would kind of kill the downgrade sellers for houses too. Not much of a point if it's hard to sell your house and condos are through the roof. To me it looks like houses will be flat and condos will close the gap a bit, which is what I have been saying will happen for awhile.
Sr. Member
Jul 3, 2007
939 posts
1091 upvotes
Toronto
rjg4235 wrote:
Feb 14th, 2018 10:06 am
I think it'll be segmented. Looking at new listings for condos and they appear to be down significantly at the moment, with prices trending up. This would kind of kill the downgrade sellers for houses too. Not much of a point if it's hard to sell your house and condos are through the roof. To me it looks like houses will be flat and condos will close the gap a bit, which is what I have been saying will happen for awhile.
scroll down and look at the stats, a 5 bedroom sale skewed the numbers...everything else is in the red
Deal Addict
Feb 22, 2011
4146 posts
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Toronto
joepipe wrote:
Feb 14th, 2018 10:29 am
scroll down and look at the stats, a 5 bedroom sale skewed the numbers...everything else is in the red
I said condos were trending up... turns out when you can't afford a house/semi or town anymore you get a condo. I feel like I was saying that all last year when the government was implementing measures restricting availability of credit. Again this is so stupid because all it does is hurt anyone who wanted to enter the market. Anyone who already owned is laughing because they can sell their condo for top dollar and get a house on the cheap.

Image
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Mar 14, 2006
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there has never been a better time to sell condo and buy a home
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Jul 3, 2007
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Toronto
mingyang wrote:
Feb 14th, 2018 10:40 am
there has never been a better time to sell condo and buy a home
definitely getting there....detached and land will always be worth more than a box in the sky
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Jun 26, 2005
8276 posts
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mingyang wrote:
Feb 14th, 2018 10:40 am
there has never been a better time to sell condo and buy a home
If one waits longer, it will get even better.
Deal Addict
Feb 22, 2011
4146 posts
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Toronto
joepipe wrote:
Feb 14th, 2018 10:45 am
definitely getting there....detached and land will always be worth more than a box in the sky
Not when that box is a 10 min walk from union station or bay street. Turns out there aren't that many houses in certain areas... There is a shift in culture, millennials are focusing on spending on experiences and not things. Huge value placed on living in the middle of everything that's going on. Isn't there a saying for that or something? Location location location.
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Mar 14, 2006
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rfdrfd wrote:
Feb 14th, 2018 10:46 am
If one waits longer, it will get even better.
i disagree. it's much easier to increase supply of condo than detached home. demand and supply will suggest that the condo will not sustain the recent price increases. your logic almost suggest that the condo price will surpass a home lol. my 2 cents.. condo cant go much higher, detach home pretty much bottom out. NO ONE should wait to switch from condo to a home if they can do it.
Deal Fanatic
Feb 9, 2009
6210 posts
3415 upvotes
Detached is king long term. People will continue to pray for a 50% crash that isn’t coming and will be left bitterly disappointed.

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