Denise Prattas Realtor

09/18/2025

New Listing Alert!! Newly renovated gem at Bayview and Eglinton! Open House this weekend - Saturday 2-4pm! 1750 Bayview Ave., Unit 309! Message me for details. See more here…https://sites.genesisvue.com/1750bayviewaveunit309

03/13/2025

07/30/2024

New Listing Alert!

Stunning 2 🛌 2 bathroom condo right at Bayview and Eglinton! This unit has over 1100sq feet of total living space! A beautiful private balcony, a locker and one underground parking spot.
This condo is situated right at Bayview and Eglinton!
Walk down to the future anticipated LRT, the cute shops and restaurants at Bayview Ave and a short walk to the walking trails and Sunnybrook Hospital.

Asking 735k.

If anyone is interested in a tour please reach out.

11/03/2023

Good news to those praying to the interest rate gods..
Today’s US job numbers point towards a more likely soft landing for its economy and the expected reduced pressure on inflation. This is pushing up bond yields - the yield on the Canadian 5-year bond is now down almost 70 basis points since early October. This will give lenders the opportunity to offer better rates in the short term on their 2-5 year mortgage products. If this trend continues I would not be surprised to see the Real Estate market to respond strongly in the New Year. It’s time to speak to your real estate and mortgage professional to see how this impacts you.

11/03/2023

The Market Stats are in for October!

Fall has officially arrived and the temperature has finally dropped as the cold has started to move in. The Great Toronto Area Real Estate Market has also begun to cool with almost 6% fewer sales this October compared to last year. Another figure where we see a noticeable change is in the number of active listings. Active listings in October 2023 were up 50% compared to October 2022. With more product coming to market, buyers have more choice, which may put some downward pressure on pricing, however, this has yet to be seen. Prices remained constant, up 3.5% compared to last October as demand for real estate continued even with many Buyers still sitting on the sidelines due to market affordability and uncertainty.

The Toronto Regional Real Estate Board Chief Market Analyst Jason Mercer has reported that with competition between buyers remaining strong the average selling price has remained above last year’s level in October. The Bank of Canada also noted this resilience in its October statement. However, home prices remain well-below their record peak reached at the beginning of 2022, so lower home prices have mitigated the impact of higher borrowing costs to a degree.

The resale condo market has witnessed some minor declines with sales and prices down only 3.1% and 1% respectively. Inventory levels have jumped up just over 50% in this category of home type as many investors have chosen to sell their asset due to the increase in borrowing costs.

Developers of New Construction condominiums and homes are continuing to present great product to the market place with unheard of incentives. With greatly extended deposit structures and long closing dates many investors are purchasing with the anticipation of lower borrowing costs in the future.

If you have any questions please never hesitate to reach out to me with any real estate or mortgage questions.

08/30/2023

Heads Up Friends- for those of you in fixed rate mortgages the coast is not clear. Although fixed rate mortgage holders may not have experienced the same effects as those holding variable rate mortgages, they will likely face the impact of these interest rate hikes over the next few years as fixed rate mortgages renew.
The chart here from Equifax Canada Q2/2023 Mortgage & Housing shows the impact of renewal increases for those holding 2018 -5 year fixed rate mortgages renewing this year.
The impact will be worse for those renewing in 2024 and 2025 if interest rates remain elevated in those years. This is due to the fact that interest rates for those 5 year fixed rate mortgages entered into in 2019 and 2020 were booked at very low rates.
The time has come to prepare ourselves for these jolts. There are many options that are available for any financial situation. Let’s grab a coffee and talk. If anyone is interested in the full report, please reach out.

04/05/2023

Hello friends,

I can't believe the first quarter of 2023 has already come to an end. The residential real estate market has seen its ups and downs as of late, however we are now starting to see some consistent growth in the market.

As we moved through the first quarter we are seeing an increase in competition between buyers, which has been heating up in many GTA neighbourhoods. The most recent statistics support this with the average sale price above the average list price for the first time since May 2022. It has been suggested that demand for home ownership will continue to recover this year as high average rents move more closely in line with the cost of ownership.

There were 6896 sales reported in March 2023, down 36.5 per cent compared to March 2022. On a month-over-month basis, actual and seasonally adjusted sales were up. New listings were also down on a year-over-year basis but by a much greater annual rate. This points to tighter market conditions compared to last year, at the end of March TRREB currently reported only a month and a half of inventory of available homes of all types.

The average selling price was down by 14.6 per cent year-over-year to $1,108,606. The average selling price was up month over-month on an actual and seasonally adjusted basis.

TRREB's Chief Market Analyst, Jason Mercer, reported that with greater uncertainty in financial markets, medium-term bond yields have begun to trend lower. This has and will continue to result in lower fixed rate borrowing costs this year. Along with record setting immigration, first-time buying intentions will continue to remain strong.

The new construction market has also begun to pick-up as areas outside of the core of Toronto have begun to witness higher demand. Pricing and affordability of this product in these areas is the driving force of this demand.

If you have any real estate or mortgage questions, know that I am always here to help.

I look forward to catching up with you soon.

01/07/2023

Happy New Year everyone!TREB released its final #’s for the year. Following a very strong start to the year, home sales trended lower starting in the spring and continued throughout the balance of 2022 as aggressive BOC interest rate hikes hampered affordability, putting downward pressure on prices to mitigate the impact of the higher mortgage rates.
There were 75,140 sales reported through TRREB's MLS System in 2022 down 38.2% compared to the 2021 record of 121,639. The avg selling price for 2022 was $1,189,850 up 8.6% compared to $1,095,333 in 2021. This price growth was due to a strong start to the year.
As we compare Dec 2022 with Dec 2021 the adjustments in our market have become more evident. Sales volume is down just over 48% with active listings up 169%. With sales down and the supply of available homes up, downward pressure on pricing has begun to set in. Prices are down 9.2% this past Dec compared to December 2021.
With the jump in supply of all available home types the Months of Inventory # still remains in seller’s market territory. The supply of available homes for sale is still considered low which is assisting in the easing of prices; hence we are not seeing substantial price declines.
Condo pricing remains flat even with the volume of sales down over 50%. Condo’s still remain an affordable way to enter the residential real estate market, with borrowing rates on the rise and the avg price of freehold properties slowly moderating, condos remain in demand amongst first time buyers and investors.
With inflation rates still running high we are anticipating another rate increase. 2023 is going to be an interesting year for real estate and for mortgages. I wish you and family a very successful 2023, please never hesitate to reach out with your real estate and mortgage questions, I am here to help.

All the very best, Denise

07/19/2022

Gorgeous East York Bungalow For SALE or LEASE- Located in the Woodbine/Lumsden Are on 32 Westbrook. Recently Renovated, Separate Entrance, Private Parking Pad, 3 Bedroom, Gas Stove and 3 bathrooms! Close to Schools, Trails, Hospital, Shops, Restaurants, The Subway Line and the DVP. Please contact me for details.

07/19/2022

LOCATION! LOCATION! LOCATION!- FOR SALE/FOR LEASE- This gorgeous recently renovated detached bungalow with an added extension. In East York, close to all the shops on the Danforth and the subway line. Finished basement and separate entrance. NEW SALE PRICE-1.198M or LEASE FOR ONLY 4K a month! Please DM me with any questions!