September Real Estate Update
Welcome to the latest edition of our real estate newsletter! In this issue, we dive into important updates on the real estate market, including the latest trends and interest rate shifts. We’ll also showcase some of our newest listings and highlight exciting upcoming developments. Whether you're looking to buy, sell, or invest, we've got the insights to keep you informed.
Market Update: Trends and Insights
In August, the Greater Toronto Area (GTA) saw an average sales price of $1,074,425. The market was active with 4,975 properties sold and 12,547 new listings introduced. The average days on the market increased to 28, marking a 40% rise compared to last year.
Recent Interest Rate Cut:
Exciting news from the Bank of Canada! The BoC has announced its third consecutive rate cut, lowering the policy rate to 4.25%. This reduction can significantly impact the real estate market.
- For Buyers: Lower rates mean more buying power and potentially lower monthly payments. This could be an excellent opportunity to find a more affordable mortgage.
- For Sellers: While the average days on the market have increased, the lower interest rates might stimulate buyer activity, making it essential to price and present your property effectively.
Upcoming Changes to Mortgage Rules:
The Liberal government has proposed changes to the Canadian mortgage market that could impact many buyers. These changes include:
- 30-Year Amortizations: First-time homebuyers and those purchasing new builds will soon be able to access insured mortgages with a 30-year amortization period, up from the usual 25 years. This extended period could make monthly payments more manageable.
- Increased Insured Mortgage Cap: The cap for insured mortgages is being raised to $1.5 million, up from $1 million. This adjustment could provide more flexibility for buyers looking at higher-priced properties.
Current Listings
8 Thornhill Dr
For Sale
$6,508,888
This exceptional residence, crafted by the renowned Greenpark, epitomizes elegance and modern luxury. Located just minutes from the Thornhill Golf Club, this home offers a lifestyle of unparalleled sophistication. Built in 2012, it showcases soaring ceilings, exquisite marble and hardwood flooring, and a refined neutral color palette that exudes timeless style.
3651 Vandorf SdRd
$6,988,888
For Sale
Experience the pinnacle of modern luxury at 3651 Vandorf Side Road, a secluded 10-acre estate featuring a stunning 4,700 square foot home built in 2020. The gourmet kitchen, crafted by Florentine Kitchens, is a chef’s dream, boasting two islands! The estate also features three serene ponds, one with a cabana area perfect for relaxation or entertaining. The 3-car tandem garage
321 Davenport Rd
$2,825,990
For Sale
321 Davenport Built By Alterra epitomizes luxury living in Toronto. This exclusive residence seamlessly blends high-design with minimalist elegance, catering to the city's elite. With only 18 units, this luxurious 2 bed/2bath offers approximately 1388 sf of interior space and complemented by a 112 sf balcony. Experience the pinnacle of modern living.
106 Douglas Dr
$9,000
For Lease
Fabulous Rosedale 5 bed, 5 bath homes ready to lease! Located in the heart of the neighbourhood on a sunny corner lot with lots of natural light. Sophisticated centre hall plan with grand proportioned rooms. The living room is adored with a marble fireplace and stunning views over looking the gardens. Glorious south facing sunroom!
518 Markay Commons
$2,128,900
For Sale
Bellview by the lake is a small community of custom built homes on a private road in South Burlington. An exclusive pocket walking distance to the lake, lively waterfront & Joseph BrantHospital. A once in a lifetime opportunity to be in a lakeside community. Markay Homes offer sunrivaled quality and distinct transitional elevations.
Pre Construction
The Clove
Starting from the $400s
By: Mattamy Homes
As the first project of Cloverdale's redevelopment, experience a complete reimagining of urban living and be part of one of the most exciting and transformative mixed-used communities currently underway in the Greater Toronto Area.
Luna Bay Muskoka
Starting From $1.6M
By: Ram Developments
A luxurious and exclusive waterfront cottage development in the sought after Muskoka cottage country, designed to offer the ultimate blend of natural beauty, modern amenities, and a smart investment opportunity.
Our intimate knowledge of the GTA market, coupled with our commitment to exceptional service, sets us apart. We leverage our extensive network and innovative marketing strategies to connect sellers with the right buyers. Whether you're looking to buy or sell a luxury property, we're here to guide you every step of the way.
Contact Us
Ready to explore the luxury real estate market in the GTA? Contact us today to schedule a consultation. Let's turn your real estate journey into a lasting memory.