Normally by now, my job as a realtor winds down and my focus goes to holiday parties, and wrapping presents. Normally by now, rentals slow down. But this year has been anything but normal. Hence, I remain busy helping landlords and renters well into the holidays.

Last year, this time, real estate analysts were reporting an 8% year-over-year increase in average rent prices across the City of Toronto. [Instead] Toronto rents were down a staggering 20%, year-over-year, in November of 2020. [*]

To put things into perspective, if you are looking to rent:

…you’d be saving an average $520 per month if you rented a place in Toronto right now versus if you signed a lease last year at this time. [*]

As a renter or buyer: Will it better to rent for less or to buy while the interest rates are so low?

As a property owner: Will it be better to lease for the long term or cash out while the market is hot?

My answer to you: it really depends on your location and circumstance.

For example:

If you’re a renter, just because the overall prices are down on average 20% doesn’t mean you can demand 20% decrease in your rent.

If you’re a landlord, your property may be worth holding on to, or selling so you can buy two more properties to increase or diverse your portfolio. 

Whether you’re a property owner, seller, renter or buyer, you need to be strategically positioned as the dust settles in 2021. Need some help? Feel free to call me and we can have a quick consult on your current situation.

 

 

Toronto Stats this Past week

MLS activity from December 9 to 15 for residential properties:

For Sale:

6,257

Newly listed:

558

Sold:

391

↓For Rent:

12,234

 Compare the above to the week before from December 2 to 8 when there were
6,859 for sale, 738 newly listed, 391 sold  & 12,234 for rent. 

 

TODAY’S NEWEST LISTINGS

 

TORONTO HOUSES FOR SALE

Under $950k $950k to $1.2M $1.2M to $1.6M
$1.6M to $2M $2M to 3M Over $3M

 

   

TORONTO CONDOS FOR SALE

Under $500k $500k to $600k $600k to $700k
$700k to $800k $800k to $1M Over $1M

 

 

OTHER

GTA Fixer Uppers Ontario Foreclosures Map Search

   

(Email or call me directly for specific sold or off-market properties)

 

If you would like me to look up any other numbers for you, just call or text me 647-804-8601.
Let me know how I can help with your (RE)search.