The spring weather seems to be here to stay, which means the spring real estate market is already in full force. Several significant factors have impacted the market this past month, including the return of people to downtown offices, lack of new listings, and the first of many anticipated interest rate increases.

Over the past few weeks, anyone in the Financial District can comment on how the PATH has come alive again. This resurgence has led to many buyers exploring the options of moving back downtown and many corporate relocations finally taking place that were on hold during the pandemic. (more…)

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Toronto Market Update

December’s Toronto and area residential marketplace exhausted all the superlatives that we would normally apply to a robust resale market. Not only was December’s housing market strong by historical standards, but it dramatically exceeded historic norms, performing more like a spring market than what we have come to expect of property sales during the holiday season. It’s almost as if the holiday season didn’t exist, and unfortunately, because of the restrictions imposed by the effects of Covid-19, normal retail shopping was non-existent. Deprived of retail shopping, it appears that buyers focused their attention on housing instead.
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Toronto Real Estate Market

The Toronto and area residential resale market continued its torrid pace in November, defying all expectations and forecasts. It wasn’t, however, homogenous in its performance, with different housing types and areas performing at dramatically different levels.

Overall, reported sales for the greater Toronto area were up a scorching 24.3 percent compared to November 2019. Last year, 7,054 residential properties were reported sold. This year that number jumped to 8,761. That number was driven primarily by the sale of ground-level properties, detached, semi-detached, and townhouse homes. Sales of these types of homes increased in both the City of Toronto and the 905 region, and correspondingly, so did average sale prices.
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Toronto Market Report

It was no surprise that October’s resale market results continued the record pace that began in June. Reported sales hit a new high in October, with 10,563 residential properties trading hands during the month, a 25 percent increase compared to last year. Not only were sales volume at record levels, but average sale prices also continued their steady upward march. Last October, which was a strong month, 8,445 properties were reported.
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Toronto Market Update

We have run out of superlatives to describe the greater Toronto residential resale marketplace. Records have been broken consistently for the last few months, and September was no exception. Two records were shattered in September: most sales ever recorded for the month, and the highest average sale price for all properties reported sold.
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Toronto Market Update - July 2020

July’s residential resale market performance was record breaking. Almost 11,100 properties were reported sold, a 28 percent increase compared to the 8,679 properties sold a month earlier. Compared to July 2019, sales improved by almost 30 percent. There were 8,555 residential properties reported sold last year. July’s numbers are the clearest indication as to the robustness and resilience of the Toronto marketplace, especially when fueled by record-low mortgage interest rates.
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Toronto Real Estate Market

By any standards, the residential resale market’s recovery in June was nothing but phenomenal. The lockdown and emergency measures implemented by the Province in mid-March literally brought the market to a standstill. It stayed that way throughout April, but by early May, we could sense recovery. By May the industry, agents, buyers and sellers had adjusted to the rigid in-person showing protocols – masks, gloves, sanitizers, social distancing, and no-touch viewings. Also, by May, the pent up demand, already present before the pandemic, began to push against the restrictions imposed by Covid-19 and sales began to take place.
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Toronto Real Estate COVID-19

Until the Ontario Provincial Government declared a state of emergency, the Toronto and area residential resale market was on course to produce one of the strongest, most robust markets on record, including the establishment of a record-breaking monthly average sale price. All that changed around the middle of the month as people began following provincial health authorities directives: stay home, maintain social distancing, no large gatherings, and of course, wash your hands frequently. When many of Ontario’s businesses were ordered closed, the real estate market didn’t stop but stalled dramatically. (more…)

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Toronto Penthouse at 245 Perth Avenue

Condo of the Week: $2.8 million for a Junction Triangle penthouse with a rooftop putting green.

 

 

By: Jonathan Forani – Toronto Life
January 15th, 2020

Address:245 Perth Avenue, penthouse
Neighbourhood: Junction Triangle
Agent: Dylan Donovan, Chestnut Park Real Estate Limited
Price: $2,795,000

The Place

A modern 2,000-square-foot penthouse near Dundas West station. The three-bed, three-bath unit has a Scandinavian-style interior, with a light colour palette and sculptural furniture. It also has a 1,600-square-foot wrap-around rooftop terrace.

The History

The building is part of the Arch Lofts, a restoration of the century-old Perth Avenue Methodist Church. In 2018, the seller purchased the unfinished penthouse unit and carried out a six-month renovation. They preserved the original layout and added custom finishes.

The Tour

There’s direct elevator access to the penthouse, which is one of 13 units in the building:

The front hallway has cement tile flooring. Those stairs go down to a wine cellar:

The wine cellar is 77 square feet and holds more than 60 bottles:

This room, located next to the front hallway, could be used as a bedroom:

It also has access to the wrap-around terrace:

The living room has 10-foot ceilings and a white oak wall:

Most of the flooring in the unit is made from white oak:

A brass chandelier hangs in the dining area:

In the kitchen, there are spherical light fixtures and granite countertops:

The powder room hasribbed stone tile walls and a pendant light fixture:

In the master, there’s a built-in king-size bed with a white oak frame:

Including the bathroom, which features a glass enclosure and grey granite tiles, the master suite is nearly 275 square feet:

Both of the main bedrooms have access to the terrace:

The second bedroom has a king-size bed, a glass shower and a built-in vanity:

There are green-blue cement tiles in this bathroom:

The penthouse terrace has two gas lines, which makes it a good spot to BBQ:

This Muskoka-inspired patio set can be purchased with the unit:

… along with this little putting green:

Big Selling Point

The wrap-around rooftop terrace. At nearly 1,600 square feet, the outdoor deck is only slightly smaller than the interior of the apartment. That means buyers will have plenty of space to soak up sun (or work on their short game) in the summer months.

Possible Deal Breaker

You could rent a small studio apartment with the monthly maintenance fees.

By the Numbers
  • $2,795,000
  • 1,845 square feet
  • $1,404 in monthly maintenance fees
  • $8,128 in taxes
  • 3 bedrooms
  • 3 bathrooms
  • 1 parking space
  • 1 storage locker

For more information and full listing detail visit: https://dylandonovan.ca/245-perth-ave-penthouse/

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Shangri-La Toronto - 4005

This $2.29M Shangri-La Condo Is Exquisite And Divine


 

This exquisite two-bedroom condo, located in the highly sought after Residences of Shangri-La Toronto, will have you living the five-star life permanently. With magnificent views of Lake Ontario and Queens Park, the views from this home are divine.
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