Early Fall Toronto Market Update

Autumn Toronto SkylineWe’re seeing an increase of sales along with an increase of the average price as compared to last year with a large number of buyers active in the marketplace relative to the number of homes for sale. This isn’t a new story and has been the theme throughout the year.  As a result of a shortage of listings, average prices have continued to rise particularly for low rise market segments (detached houses, semi’s and townhouses). Even though the condominium market is better supplied there are enough buyers relative to the number of listing to prompt modest to very strong average price growth in many Toronto areas.

  • September 1-14 sales up 8.3% compared to 2013 during the same time frame
  • Year-to-date sales up by 6.6% compared to YTD 2013
  • September 1-14 average price up 8.1% to $555,890 compared to last year same time frame
  • Average year-to-date selling price up 8.5% year over year to $562.244
  • Strongest growth –  single detached + semi-detached houses

Now and Moving Forward…

1) We are seeing and will continue to see a very large migration into the city from the outlying areas.

2) Gridlock will drive prices up as time is our most valuable resource and people recognize that and will want the convenience of living downtown possibly giving up their cars.

3) Equity Markets in the US are strong.

4) High end market is strong with considerable movement.

5) Manhattanization of Toronto – All eyes are on Toronto. We never used to trade with NYC, London or Paris 20 years ago the way we are now.

6) Housing inventory will come from the many sectors – older people downsizing, people upsizing and immigration particularly from countries such as India, Iran and Russia.

7) We expect the fall market to be busier than in recent years. Prices will stabilize only if the number of listings increases.

8) The condo market is stable. Around the Air Canada Centre, over 1200 new rental listings are coming onto the market as buildings move into occupancy.

Kimmé Myles

Matching her knowledge of Toronto’s eclectic mix of central core neighbourhoods and impassioned by her diverse mix of buyers and sellers, Kimmé is naturally motivated to create a positive and professional experience. Kimmé does her homework and knows her inventory. She is genuine, honest and a straight shooter. Nor is she afraid to think “outside the box” as she employs creative strategies to make dreams become reality.

Born and raised in Toronto and coming from a successful fashion background in design and management, Kimmé could not have met a better match for her entrepreneurial skills than by working in Real Estate. Inspired by her father, well known Toronto clothier to the stars, “Lou Myles”, she learned from a very young age to work hard and strive for excellence.

Licensed since 2005 as a full time Sales Representative and a Broker since 2016, she continues to be proud to be affiliated with the Toronto office of Sotheby’s International Realty Canada and to be part of the highly respected world renowned global luxury brokerage, Sotheby’s International Realty.

Kimmé has received numerous sales awards throughout her career including the prestigious Gairdner, Diamond and President’s Awards. She has completed extensive negotiation training and is among a select group of realtors in Canada to hold the Master Certified Negotiation Expert (MCNE) Designation and the Certified Negotiation Expert (CNE) Designation. In addition, she is a member of the prestigious U.S. based Institute of Luxury Home Marketing and also carries the Luxe – Luxury Listing Specialist Designation. She holds the SRS Designation – Seller Representation Specialist and the SRES Designation –Senior Real Estate Specialist – both accredited programs through NAR – The National Association of Realtors, USA.

Entrusted with the life choices of her clients, Kimmé is truly honoured to have the opportunity to serve and assist others and does so with integrity, commitment and enthusiasm.

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