Bosley Realestate

Our Recent Press In BlogTO On Why Toronto Real Estate Is So Expensive

August 11th, 2020 | Real EstateWord On The StreetJunction/High Park/Bloor West/SwanseaSwansea / High Park / Bloor West VillageCorso Italia / DavenportWychwood / Humewood - CedarvaleHigh Park North / The Junction MidtownYorkville / Summerhill / RosedaleDufferin Grove / Bloorcourt VillageKing West / Niagara / Liberty VillageThe DanforthLeslieville/RiversideRiverdale / Playter EstatesCabbagetown / CorktownSt. Lawrence MarketAnnex / South Annex / Seaton VillageCollege Street/Little ItalyLittle PortugalQueen WestWallace/Emerson & Brockton VillageRoncesvalles Village

What a topsy turvy year it's been so far for real estate!

Urbaneer's veteran realtor Steve Fudge recently wrote about the resilience of certain segments of the Toronto market in a blog titled, 'Demand For ‘Forever Homes’ In Toronto’s Downtown Family Neighbourhoods Persists Despite COVID-19'.

The pandemic has shifted our housing market into a new set of oscillating dynamics, but the wheels haven't stopped turning, so to speak. The lockdown in March 2020 and the necessary precautionary measures slowed demand to a crawl for the first ten weeks as we Torontonians adjusted to our new reality. However, many double and single-income professionals (many with children, nanny, Labradoodle & Tabby) found themselves squeezed for space in their existing residences and quickly began competing to buy 'Forever Homes', driving up prices. Currently, only the most dedicated buyers are pounding the pavement in search of a home - but there are a lot of them! As the July 2020 Toronto Real Estate Board statistics revealed, there were 11,081 transactions last month, which is 49.5 percent more than June 2020 and an improvement of 29.5 percent year-over-year. And while the number of new listings was improved as well, it was not nearly enough to begin to close Toronto's infamous supply/demand gap. So it was another month of steep price increases and bidding wars!

 

 

Steve was engaged by writer Becky Robertson of BlogTO, recently. The resulting article offers some insight into one of the multiple factors that contribute to how expensive real estate has become in Toronto. The fact of the matter is, that despite various forms of provincial and federal government intervention in years past, prices continue to trend upward (particularly for freehold properties right now), and if you don't take home six-figure income, it's unlikely you'll be able to afford property in Toronto. (Read: 'Dear Urbaneer: How Can Millennials Possibly Afford To Buy Real Estate?'). If the world was curious how strong the unique supply/demand dynamic is that keeps the Toronto real estate market engine running and prices climbing, the answer is: strong enough to plough through a global pandemic (seriously?) and keep on going!

 

 

Read the BlogTO article here: "This Is Why Buying A House In Toronto Is So Expensive".

And now it's now been picked up by MortgageBrokerNews: "Three Reasons Why Toronto Real Estate Prices Are So High."

If you'd like to learn more about the current state of the Toronto real estate market, including evolving trends, what's selling and what's not, and who's buying and who's selling (and for what price) visit the Urbaneer blog!

 


 

Here are some carefully chosen blogs on the state of the Toronto housing market:

Demand For ‘Forever Homes’ In Toronto’s Downtown Family Neighbourhoods Persists Despite COVID-19

Assess Your Risk: Buying & Selling Toronto Real Estate During The COVID-19 Pandemic

Trending In Toronto: Single Family Houses Replaced By Boutique Condo Townhomes

Getting On The Bidding War Bandwagon

Polling The Pundits: Where Is Toronto Real Estate Headed In 2020?

 


 

Can the personable engaging and service successful Urbaneer team become the realtors of choice for you, or someone you love? We'd be delighted to guide you in securing the best of the best Toronto real estate.

With a multi-disciplinary education in housing - and 28 years of experience in the property market - Steve and his team believe the search for a Home requires engagement on sensory, intellectual and emotional levels. In fact, it's how we've become a top producing realtors. 

 

 

Thanks for reading!

 

-The Urbaneer Team

Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage - (416) 322-800

 

- we're here to earn your trust, then your business -

Celebrating Twenty-Eight Years As A Top-Producing Toronto Realtor

 

*Did you know we were recently listed as one of The Top 25 Toronto Real Estate Agents To Follow On Twitter! - The Top 50 Blogs On Toronto - and The Top 100 Real Estate Blogs In Canada? Consider signing up in the box below to receive our FREE monthly e-newsletter on housing, culture and design including our love for unique urban homes and other Toronto real estate!

*Love Canadian Housing? Check out Steve's University Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, products and real estate in Canada.

Subscribe To Our Free Monthly Newsletter