Though the official start is a couple of weeks away, the Victoria Day weekend really marks the beginning of summer, especially when we're seeing temperatures into the mid 30s. Or at least, we were. For the first time since 2019, Pride returns to Toronto (even the Zoo is celebrating!). It will be interesting to see what kind of crowds show up this year.
The numbers are out for May sales and they're true to what I'm seeing on the streets. While you can't expect to command the same price your neighbour sold for in February (or even in April), the average price of a detached home in Toronto is over $100K higher than it was six months ago. The average condo price is up by almost $50K. If you sold in February, you sold at the peak of the market, but you also bought at the peak. Here are some of my thoughts on the market.
Scroll down to also see links to events happening in the city this month, a few new restaurants to check out, and three great new listings from the Entertainment District to Leslieville.
As always, I thank you for your past and future business...and any referrals of friends or family you may have are greatly appreciated!
Brian Elder
Sales Representative,
SAGE Real Estate Ltd., Brokerage
416-483-8000
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Five delicious new restaurants to try in Toronto right now |
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With indoor dining opening in the city again, and the culinary scene returning to its former glory, there are plenty of new restaurants opening in the city that are worth trying. Check out these five restaurants in the city that should be at the top of your must-try list. |
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The warmer weather is here and so are many in-person events! Pride Toronto will be celebrating all month long, concluding with the Festival Weekend on June 24-26. The Toronto International Dragon Boat Race Festival welcomes teams to Center Island on June 18-19. And the Toronto Beaches Rib & Beer Festival is back on June 24-26 with food, fun and entertainment. |
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May 2022 home sales down 39% from last year, prices up almost 10% |
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The Greater Toronto Area housing market is becoming more balanced as May home sales dropped 39 per cent from a year earlier and prices rose almost 10 per cent. Last month’s home sales totalled 7,283, down from 11,903 in May 2021 and 7,989 this past April. |
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This is how you can save money when travelling in Ontario this summer |
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As the warm weather hits, the Staycation Tax Credit for Ontario is something you'll want to get familiar with if you're planning any day trips or weekend excursions this summer. |
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One Bedroom Terrace At Riverside Townes
#19 - 150 Broadview Avenue: $579,000
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Lovely one bedroom terraced suite with a large locker at Queen and Broadview in a tranquil enclave of stacked townhomes. Desirable South Riverdale. Shops and restaurants of Leslieville only steps away; Broadview Hotel, Tabulé, Jimmie Simpson pool and park, the new Ontario Line. Access to streetcar, DVP and major highways make morning commutes a breeze. An ideal investment property and the perfect starter for students, young professionals and couples. |
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Mornings at The Morgan
#610 - 438 Richmond Street West: $859,000
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The Morgan! Super-spacious and well laid out, 2-bedroom, corner suite with morning sun-soaked views will be sure to start your day with zing! Soaring 9′ ceilings, 2 full baths, a separate kitchen to hide the dirty dishes out of sight, an oversized primary bedroom to sleep off a hard work week. Convenience is key being steps to all the downtown core has to offer; cafés, shops and restaurants of Queen West and the Entertainment District, financial core, Kensington, Parks, Eaton Centre and the best chocolate chip cookies at Le Gourmand. |
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Living Large on Gerrard!
#704 - 117 Gerrard Street East: $489,000
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A spectacular opportunity! Sun-soaked, stylishly renovated and super-functional, east facing, modified, one bedroom suite with morning Cabbagetown views over Allan Gardens. Open concept kitchen with dining nook or the perfect home office. Extra large living room for entertaining and a separate, cozy, bedroom retreat. All utilities including high-speed internet and cable are included in the maintenance fees!! This suite is steps to everything; Eaton Centre, transit, grocery shopping, U of T and TMU, St. Lawrence Market, the village, financial core and more. |
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Toronto Real Estate Board Market News |
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GTA REALTORS® reported 7,283 sales through TRREB’s MLS® System in May 2022 – down 38.8 per cent compared to May 2021 and down nine per cent compared to April 2022. The number of new May listings was similar to last year’s level and edged up on a month-over-month basis. With sales down and new listings trend flat to slightly up, the number of active listings was up on a year-over-year basis by 26 per cent. |
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NOT INTENDED TO SOLICIT BUYERS/SELLERS ALREADY UNDER CONTRACT. |
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