Friday, January 15, 2021
UPDATE FOR THE WEEK ENDING JANUARY 15TH, 2021
Wednesday, December 30, 2020
Burning Questions: Have we reached peak condo?
No sector has been hit as hard as condos in this pandemic, and while experts say the market will recover, it will be different
Burning Questions: The pandemic has left a multitude of unknowns in its wake. In a year-end series, the Financial Post explores some of the most intriguing.
Until recently, a condominium apartment in Toronto was a near-foolproof investment. And then came March 2020, and COVID-19.
Who's responsible for COVID-19 protocols in condo buildings?
Published in Yahoo.News
By: Elianna Lev
·
Some condo owners in Toronto’s City Place neighbourhood recently received an email about COVID-19 protocol, which is raising questions about the enforcement of lockdown rules.
The note, sent by the building’s board of directors, asks people in the property to report any units having parties to bylaw officers through 311. It also stated it would begin implementing and reinforcing safety measures such as only allowing floor FOB access, no inter-unit gatherings (including no visitors), reduced parking access and parcel pickup within 48 hours.
While the protocol may seem extreme — reporting what goes on in the privacy of one’s home — it brings up questions about where the responsibility falls should COVID-19 spread through a condo building.
Sunday, December 20, 2020
BOSLEY MARKET INSIGHT: UPDATE FOR THE WEEK ENDING DECEMBER 18TH, 2020
Bosley Real Estate Ltd. is a full-service boutique brokerage operating in Toronto, Muskoka, Niagara-on-the-Lake, Port Hope and Cambridge, Ontario since 1928. We have three centrally located offices in Toronto and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.
Friday, December 11, 2020
BOSLEY MARKET INSIGHT: UPDATE FOR THE WEEK ENDING DECEMBER 11TH, 2020
November brought a sense of urgency to the Toronto real estate market, where Covid has people buying and selling homes for completely different reasons than before the pandemic. Data from the Toronto Regional Real Estate Board showed that November home sales in the Greater Toronto Area were up 24.3% compared with last year, as demand for single-family homes continued to surge ahead of condos.
There were 8,766 homes sold in November up from 7,054 in November 2019. The average sale price is $955,615, up 13.3% from $843,307 a year earlier. 11,545 homes were listed for sale in November, up from 8,651 in November of last year, as the market catches up from spring’s slowdown. While detached home prices rose to an average of $1,202,281, up 15.2% from November 2019, average condo prices fell 2% to $605,863. The number of condos that hit the market this November was almost double that of November of last year. There has been a total of 150,913 listings in the Toronto area so far this year, compared with 149,241 at this time last year.
But regardless, our inventory is still low. The search for more living space continues to take buyers to the suburbs and beyond. In the suburban areas, we are still seeing bidding wars. It’s highly competitive and properties are not sitting long. Several Canadian economists recently surveyed believe that record low interest rates have been keeping buyers interested and prices high in Canadian real estate. With low inventory and growing demand, they expect that housing values in Canada’s largest markets could see a 5% increase in 2021. The conclusion is that home and work will become entwined more intimately in the future and that living space needs to be reviewed to accommodate such a future.
Bosley Real Estate Ltd. is a full-service boutique brokerage operating in Toronto, Muskoka, Niagara-on-the-Lake, Port Hope and Cambridge, Ontario since 1928. We have three centrally located offices in Toronto and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.