Home trends tend to reflect the behaviour and tastes of a given society at a moment in time. No question, COVID-19 has completely altered the way in which we live our lives, socially and professionally.
Condominium prices, rents and sales have taken a substantial hit from COVID-19, much more so than other housing types, leading many to wonder if condos will recover from the pandemic.
More homes were sold in July than any other month on record, with data going back more than 40 years. The performance of the housing market during this pandemic recession has been a big surprise.
This beguiling semi-detached home is nestled on an idyllic, tree-lined street in sought-after Riverdale. This coveted neighbourhood has character and charm with enchanting Victorian homes, along with row homes and semis. Given the community vibe and the loads of excellent amenities right there in the neighbourhood, this enclave is perfect for stylish families on the go and professionals seeking awesome work/life balance by surrounding themselves with convenience that is cool.
Carefree living begins with convenience and choice, and this lovely home’s location does not disappoint. You are a quick car ride away from the vibrant Bloor West Village and the hip Junction neighbourhoods, with all of their character shops, restaurants and cafes.
Candice Orsntein draws on 20 years as a Makeup Artist, working in the demanding film and television industry and now brings that expertise to St. Clair West at Source Organics
Prince Edward County has quickly become the ‘go-to’ destination for escaping BIG city life. It’s the spot where you can enjoy a carefree weekend with friends and family. It’s a place for drop-top drives through the county-side, fine dining and winery hoping. There’s just something about big sky country and beautiful lake views that keeps people coming back.
Walk along St. Clair West and you’ll discover it is the intersection of many cultures and people from all walks of life. There are old-world bakeries and butchers run by families with deep roots in the neighbourhood along side hip cafes and boutiques. It’s a heady combination of the familiar paired with the cool and unexpected.
Do you envision a home pleasantly positioned on an idyllic street, nestled under canopies of mature trees? And how about being able to come home every day to a house that offers both substance and knockout style?
The buyers are back out and the sellers are getting their asking prices, in some cases, more. Deal hunters may have been hoping to take advantage of a down market, but there is enough demand to keep prices up. It looks like there will be a prolonged spring market and possibly a busier summer. Low interest rates may be drawing people into the market.
The Covid19 induced trends in the job market could lead to housing preferences that move away from dense metropolitan areas and an outward migration of young families that could be considered the new “Hipsturbia”.
You might have noticed recently that Toronto’s laneways have become dotted with new construction projects with garages with an upper level living space. The City recently approved laneway housing as a means to add to Toronto’s housing stock. It can also add tremendous value and income potential to your home.
To illustrate how quickly the condo market changed as a result of COVID-19, resale activity was up 25% year-over-year during the first half of March 2020 and fell 21% year-over-year in the second half of the month, with even steeper annual declines of over 70% reported for April. However, the GTA market was exceptionally tight leading into the COVID-19 period, creating spillover demand that has enabled the limited number of units on the market to continue transacting. In fact, the average sale price-to-list-price ratio has remained near 100% through April, and the average days on market was unchanged at 18 days.
While the Junction benefits from the transitions brought about by gentrification, the newer condominium developments are interspersed with low-rise, character housing, like Victorian-era brick homes, row houses and merchant-class cottages that communicate its roots, along with a sense of its future. Formerly the heart of the CP railyards, the Junction is very much still an epicenter of activity. In fact, some of the hippest hangs in the city are in this neighbourhood.
If you love giving those time-worn furniture pieces a new life then maybe, just maybe you’ve heard of the little craze called ‘chalk paint’. St. Clair West welcomed Poppy Seed Creative, owned by Jelena and she’ll teach you how to breath new joy and life into that time-worn piece confined to you basement.
Whether or not you’re in a committed relationship, it is so very important to be in charge of their building your personal wealth. There are creative ways to get into the real estate market that doesn’t have to include a romantic partner. Think business partner instead.
The Toronto Real Estate Board just released the April 2020 Sales Report and as bleak as it may look with sales down 67%, home prices remained at April 2019 levels.
Riding the wave of gentrification is ideal for a homebuyer. Not only do you get to witness first-hand the next stage of evolution of a neighbourhood, the investment upside is substantial. Neighbourhoods in the midst of transformation have a unique texture and vibe; it’s the by-product of mingling grit from the past with the potential of the future in real time.
Where you live your life figures heavily into how you live your life. It’s important to have the features you dream of within the walls of your home, but equally important is to have amenities that boost and enhance your daily living right in your neighbourhood. And if you can combine convenience, style and choice all in one incredible location? That’s tying a bow around the opportunity!
The mid April market update was released from the Toronto Real Estate Board for the first 17 days of April and it provides the first comprehensive look at the state of our market during the government shutdowns. Sales were down 69% compared to the same...