The History of the Toronto Real Estate Market

I have had so many people ask me "What do you think is going to happen to the market?"   I do not have a crystal ball, nor do I predict the future.  I can only comment on my own personal experiences and in 1989 we saw the real estate market basically tank... and during that time I was heavily invested in the market and also pregnant with my first child.   So that will age me.. ha ha :)

To make a long story short, the last home I bought in 1989 which was the peak of the market, I sold in 2008 for the exact same price that I paid in 1989... so all I am saying is, if you are going to buy at the peak of the market, you must be able to afford to hold it until it rallies back. (AND it will rally back).. it always does.

I am not trying to scare anyone or say the same thing is going to happen because back then, interest rates was upwards of 16.0 percent... which is crazy compared to today's low interest rates... but when I looked at these charts it was chilling to seem how it matched my real estate lesson !  So you can say I am crazy or I don't know what I am talking about, but it is coming... I just listed a end unit townhouse and on the first day had 12 showings and 2 called for pre-emptive offers.

To read the complete article from where this chart was obtained click here.

So the answer to the question from me is "time will tell" but everything I read tell me we are in for a correction.   When I don't know... because the next chart makes it look like we have a way to go when it comes to percent change of prices but then again, the prices were half of what they are today.

Just some real estate history for my friends... off to work... have a great weekend everyone !  

Your friend in real estate,

Michelle Makos

P.S.  I always appreciate your referrals.

December 2016 Market Watch Report

TREB December Market Watch 2016 from Michelle Makos

Interesting Fact - December 2013 - Average Selling Prices was $520,398 and December 2016 - Average Selling Price is $729,922... not a bad return on investment !

For more information if buying or selling a home, feel free to contact me for personal and professional service.  Michelle Makos, Royal Heritage Realty Ltd., 416-300-3004

INVENTORY INVENTORY INVENTORY

Are you thinking of moving?  Even considering it?  Why not get a professional Home Evaluation done on your home... the market needs inventory.   The competition is low right now and homes are being sold in multiples all over Durham Region.  We are the closest to the GTA with the most affordable homes.  The Buyers want to live here.. but we don't have enough product.  If you are considering selling, please give me a call.  I would be happy to provide you with a free no-obligation home evaluation and you may be pleasantly surprised.

Call me, 905-831-3300 Michelle Makos TODAY !!!  Just DO IT !  

September is our Fall Spring Market ! #realestate

As you can in the chart above, the market picks up in September and October over the slower July/August months.  If you are considering listing your home, now is the time to start preparing to do so, so you can capture the Fall Market.  Give me a call to discuss the value of your home.