https://www.facebook.com/100228388817412/

Emily Chan Real Estate, 20 Cachet Woods Court, Markham, ON (2026)

09/07/2023

💥 AUGUST 2023 MARKET STATS 💥

August sales showed another decrease in every asset class, with the average sale price bring $1,356,154 – a 3.2% decrease from the previous month.

This week, we heard that the Bank of Canada did not increase borrowing rates. Though positive, this news doesn’t help buyers much. Borrowing has become so expensive that monthly payments on mid-size mortgages still amount to ~$4,000+ per month! Buyers just aren’t able to carry the monthly payments, in addition to their regular expenses.

As mentioned before, supply is the issue. Increased immigration and lack of supply maintain tight market conditions in the GTA.

For more information on the above or for regional date, feel free to reach out to me directly.

☎️: 416.890.1824
📩: [email protected]

09/07/2023

💥JULY 2023 MARKET STATS💥

July sale prices were down in every asset class; the average sale price in July was $1,118,374 – a 5.4% decrease from June.

The sales momentum that was experienced earlier in the spring has slowed somewhat since the Bank of Canada restarted its rate tightening cycle in June. The uncertainty surrounding borrowing costs, the job market, and overall economy has definitely impacted home sales. Buyers will continue to wait and see what direction monetary policy takes before purchasing.

With increased immigration, it’s getting more difficult to find housing in the GTA. For more information on the above or for regional date, feel free to reach out to me directly.

☎️: 416.890.1824
📩: [email protected]

09/07/2023

💥 AUGUST 2023 MARKET STATS 💥

August sales showed another decrease in every asset class, with the average sale price bring $1,356,154 – a 3.2% decrease from the previous month.

This week, we heard that the Bank of Canada did not increase borrowing rates. Though positive, this news doesn’t help buyers much. Borrowing has become so expensive that monthly payments on mid-size mortgages still amount to ~$4,000+ per month! Buyers just aren’t able to carry the monthly payments, in addition to their regular expenses.

As mentioned before, supply is the issue. Increased immigration and lack of supply maintain tight market conditions in the GTA.

For more information on the above or for regional date, feel free to reach out to me directly.

416.890.1824
[email protected]

09/07/2023

💥 JULY 2023 MARKET STATS 💥

July sale prices were down in every asset class; the average sale price in July was $1,118,374 – a 5.4% decrease from June.

The sales momentum that was experienced earlier in the spring has slowed somewhat since the Bank of Canada restarted its rate tightening cycle in June. The uncertainty surrounding borrowing costs, the job market, and overall economy has definitely impacted home sales. Buyers will continue to wait and see what direction monetary policy takes before purchasing.

With increased immigration, it’s getting more difficult to find housing in the GTA. For more information on the above or for regional date, feel free to reach out to me directly.

416.890.1824
[email protected]

07/30/2023

💥 JUNE 2023 MARKET STATS 💥

I do not share the same beliefs as most real estate agents. I do not believe that housing prices should continue to rise and that consumers should “invest” in real estate. I do not believe that people should be profiting off of a “basic” human need, like shelter and housing.

I can absolutely relate to those young people who are struggling to make their mortgage payments, or those that struggle to find affordable housing. So it’s really discouraging to see borrowing rates increase without the fall of real estate prices. Though those trends may be seen in some parts of Canada, it’s not the reality in most of the GTA.

Regarding real estate statistics for June, the average price of a home in the GTA was $1,182,120, a 1.2% decrease month-over-month.
Real estate activity was higher, with an increase of 16.5% in sales year-over-year.

The GTA really needs more housing in order to accommodate the increasing population. If you’re looking for specific regional statistics or if you have any questions, don’t hesitate to reach out.

If you’re looking for a real estate agent that truly cares about you and your well-being, I’m your agent.

416.890.1824
[email protected]

06/07/2023

💥 MAY 2023 MARKET STATS 💥

I don’t know why people are saying the housing market is crashing ... anyone who’s exposed to or in the market knows that it’s actually still 🔥🔥🔥. There is still a lack of supply compared to the demand for housing; new listings were down 18.7% year-over-year.

We have seen consistent growth in all asset classes in the GTA this year, with an average sale price of $1,196,101 – an increase of 3.7% month-over-month.

If you’re looking for specific regional statistics or if you have any questions, don’t hesitate to reach out!

☎️: 416.890.1824
📩: [email protected]

01/18/2023

New year, new financial goals 💸, amirite?

Starting this year, Canadians will be able to contribute to a First Home Savings Account (FHSA). The account combines features from RRSPs and TFSAs; individuals are able to claim an income tax deduction for contributions made in a particular tax year. And withdrawals are non-taxable.

Highlights:
✅ Contributions are capped at $8,000 per year, up to a lifetime contribution limit of $40,000.
✅ Unused contribution room can carry forward to the following year, up to a maximum of $8,000.
✅ Funds do not need to be paid back (different from the Home Buyers’ Plan).

Have questions? Send me a message and let’s discuss your real estate strategy!

☎️: 416.890.1824
📩: [email protected]

01/11/2023

On January 1, 2023, the City of Toronto implemented a Vacant Home Tax. All residential property owners must submit their declaration of occupancy status.

The tax does not apply to:
1️⃣ Properties that are the principal residence of the owner.
2️⃣ Properties that are the principal residence of a permitted occupant or tenant.
3️⃣ Properties that qualify for an exemption.

The declaration needs to be submitted by February 2, 2023.

If you have any questions, don’t hesitate to reach out!

☎️: 416.890.1824
📩: [email protected]

01/03/2023

As of January 1, 2023, non-Canadians and corporations controlled by non-Canadians are prevented from purchasing residential property in Canada. This includes buildings with three dwelling units or less, semi-detached homes and condo units. Larger buildings with multiple units are excluded.

This applies to individuals who are not Canadian citizens, are not permanent residents of Canada, and are not persons registered under the Indian Act. This also applies to corporations based in Canada that are: privately held, not listed on a stock exchange in Canada, and/or controlled by someone who is a non-Canadian.

There are a number of exceptions as well.

For more information or if you have any questions, feel free to send me a DM!

☎️: 416.890.1824
📩: [email protected]

01/01/2023

Welcome to 2023! 🍾🎉✨.

Wishing all of you success and happiness in the new year!

#2023

01/01/2023

✨2022✨ was a year of growth for me - personally and professionally.

I am so thankful ❤️. To my clients, thank you for choosing to work with me. To my colleagues, thank you for being such a pleasure to work with.

I’m ready for 2023 🍾🎉.

#2023

12/29/2022

💥 NOVEMBER MARKET STATS 💥

The November real estate market continued to adjust to the increasing interest rates. GTA market stats were down month-over-month, with the average sale price of a home being $1,079,395.

While we have seen a steady decline in housing prices over the year, experts in the industry expect this to be short-term. With immigration increasing over the medium- to long-term, there will be an increase in demand in the years to come.

If you have any questions or are looking for more information, don’t hesitate to reach out!

☎️: 416.890.1824
📩: [email protected]

Emily Chan Real Estate

09/07/2023

09/07/2023

09/07/2023

09/07/2023

07/30/2023

06/07/2023

01/18/2023

01/11/2023

01/03/2023

01/01/2023

01/01/2023

12/29/2022

Address

Telephone

Website

Alerts

Contact The Business

Shortcuts

Share

Category