Stephen Tucker Real Estate

03/13/2023

01/12/2023

The December numbers are in!.
As we enter 2023, it’s no surprise that the Real Estate news we are inundated with is somewhat unsettling. However, it’s helpful to approach the information about the market from a good news, bad news perspective.
No doubt, housing affordability was impeded by rates, which has reduced demand and driven prices lower. As a result, a lot of buyers and sellers adopted a ‘wait and see’ approach. We should keep in mind that home costs have declined by 19% since the slow down started. The price reductions may therefore equalize the interest rates, enabling you to still locate possibilities. Even though the number of homes sold in December was down 48.2% from the previous year, we need to keep in mind that 2021 was a record-breaking year. Additionally, we are witnessing a decline in listings in a market that has long struggled with a lack of inventory. Although it's a tough pill for prospective sellers to swalllow, after seeing their neighbours' homes sell for almost 10% more last year, the average price in Toronto grew by 8.6% over the previous year!
Because there are fewer possibilities for buyers, you can still get a very fair price if your home equity is maximized despite the decreased demand. Both buyers and sellers are challenged by rising interest rates. Mortgage approval for purchasers may become more difficult, and some sellers may see their prices drop as numerous buyers leave the market. Ideally soon, borrowing rates will level out, making it simpler for buyers with sound finances to benefit from lower pricing. This can gradually raise demand. One issue that can arise is that homeowners who renew their mortgages might receive less than ideal mortgage conditions. This can result in an increase in listings, giving buyers the perfect triad of fair inventory, reduced pricing, and eager sellers. Follow along to watch how things develop!
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For a full report please click the link below. If you want a neighbourhood-specific report please reach out to any of us here at the Nunno Group!
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https://www.nunnogroup.com/by-the-numbers-December2022
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10/12/2022

With the September numbers in, indicators show that the market continues to adjust to higher borrowing costs. TRREB reported 5,038 sales in September which is down 44.1% versus September 2021. Listings were also down on a year-over-year basis by 16.7% to 11,237 new listings. It is also noteworthy to mention that the MLS® Home Price Index (HPI) Composite benchmark was up on a year-over-year basis by 4.3%.

📌 “October generally represents the peak of the fall market, so it will be important to see where price trends head over the next month” (TRREB Chief Market Analyst Jason Mercer)
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For a full report please click the link in our bio. If you want a neighbourhood specific report please reach out!
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🌐 https://www.nunnogroup.com/by-the-numbers-September2022
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10/11/2022

A baseball game at Christie Pits in 1922. credit: City of Toronto Archives

08/09/2022

📈 The July numbers are in and as expected buyers are benefiting from more choice throughout each market segment. The market is also following traditional seasonal trends. New listing were down by a moderate 4.1%. We expect new listings will continue to follow sales trends into the second half of the year and into 2023.
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📌 TRREB has reported 4,912 sales in July which is down 47.4% versus July 2021. With a much more balanced market, annual price growth rose 1.2% from this time last year as the average price hit $1,074,754.
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If you would like a neighbourhood-specific report please reach out!

03/19/2022

⭐️CACHET NEIGHBOURHOOD⭐️
⭐️ IN MARKHAM!⭐️
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💮COMING TO MLS IN APRIL💮
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📍📸NO SIGN IN👉 https://bit.ly/CStoNG
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🔅BUILT IN 2001🔅
🛏4 Bedrooms 4.5 Bath!
🚗6 Car Parking(Incl Garage)
📐Ready for a Renovation
😍Quiet Crescent
😲Over 2700 SqFt Home
+ Finished Basement
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♨️Main Floor 9ft Ceilings,
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🎄Steps to WIllowheights Park
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Call/Text or DM Stephen @ 416-816-5238 | [email protected] for FLOORPLANS & more information!

03/08/2022

The February numbers are in and the number of sales were down from February 2021; however the number of new listings dropped at a lessor annual rate. This modest difference trends to a more balanced market.
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📌 TRREB has reported 9,097 sales in February which represents a 16.8% decrease form February 2021. The average selling price reached $1,334,554 which is up 27.7%
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For a full report please click the link https://www.nunnogroup.com/by-the-numbers-February2022
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If you want a neighbourhood specific report please reach out anytime!
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