The new GTA average: $1m! Pizza, Lego, and New Homes for Sale

March 2021

Dear ,

In this month’s newsletter, we’re bringing you:

  • Average GTA Home Price hits $1m+
  • Pizza on us!
  • Lego Home Building Contest — a Sneak Peak
  • Condo Success - comments from a happy client
  • Great New Properties for Sale & Rent
AVERAGE GTA HOME PRICE HITS $1M PLUS

For the first time in history, Toronto homes have hit an average selling price of over $1m. We’ve all seen the headlines: “Toronto Real Estate Bubble? Try Affordability Crisis.” “Toronto housing prices have become detached from reality.” “TRREB Predicts Surging GTA Real Estate Market for 2021.”

People aren’t getting paid more money….. so what’s driving this? As it would appear, most of the job losses occurred in lower income-earning professions, who would likely not be home buyers even before the pandemic. And for those with mid-level or higher paying jobs, their demand to trade-up is fuelled by change is lifestyle. Working and schooling from home means that many need larger homes! Or, if not having a daily commute to the office is now a permanent thing, why not move to the ‘burbs and get more house for your $$? OR heck, move to cottage country and enjoy a swim or ski when your work day is done?

We’ve got almost “free money” with mortgage interest rates hovering around 1.5%. Prices may be up, but affordability is perhaps the same. There are some of us here in the trenches that feel that the market has slightly shifted in the last couple of weeks. We’re seeing a bit of buyer fatigue, and we’re seeing more houses come on the market. With more inventory to choose from, buyers may see prices levelling out over the next couple of months.

But with more people being vaccinated and immigration expected to pick up over the next three years, there's no long-term relief in sight without adding more housing supply to the GTA housing market.

For a detailed summary of the Toronto Regional Real Estate Board’s monthly results, please click here. Would you like to understand property values in your neighbourhood? Let’s have a coffee ☕ (or wine?) over zoom!

PIZZA ON US!

Get a free 4-slice pizza, appetizer, or salad with any pick-up order from Station Pizza Parlour & Spaghetti House in Markham Village. courtesy of Susan Taylor Group. 

The LEGO homebuilding contest is underway!


The Lego has been delivered, now the builders are hard at work! For those that missed it last month, Susan Taylor real Estate Group and Olivia Waye of CIBC have delivered dozens and dozens of boxes of Lego to families to see who can build the best house! We’ve seen some pretty ingenious designs! Car elevators, skylights, detached garages. Here’s a sneak-peak of some of the entries. For everyone participating, don’t forget to post pics and a description of yours soon! Tag #LegoHouseSTG . Entries must be posted by Friday March 19.


Condo in a Curveball

We recently had the pleasure of helping esteemed author Colby Sharma find some new digs for himself! Here’s what he had to say:

“My Experience working with Susan and Jessica was amazing. Thank you so much for your help with the condo. I was blown away by Jessica’s dedication, and outstanding customer service. She helped make the process easy. From the start to finish jessica was super knowledgeable and helpful moving me into my new condo, she was able to help whenever i needed anything. I would highly recommend their services.”

-- Colby Sharma, Toronto, March 2021

Thank you for the kind words, Colby! We are enjoying your new book, the CURVEBALL, a story of grit, adversity, and winning the game of life. For those interested, here is a link to the book.

GREAT NEW PROPERTIES FOR SALE & RENT
9560 Markham Road # 509, Markham - For Lease

Spacious 1+1 bedroom open concept apartment, featuring wide plank floors throughout, kitchen with quartz countertops, glass backsplash, stainless steel appliances, and ensuite laundry. Master bedroom with large double closet. Den can be used as a private office. Unobstructed east-facing balcony, great place to see the sunrise!

Asking $1850/month

15 Eaton Park Lane #30, Scarborough - For Sale

Almost brand new end-unit stacked townhome. 2 bedrooms, 2 full bathrooms. Features 9' ceilings, pot lights, new wide-plank flooring, upgraded light fixtures, Walk-out to yard and backs to park.

Just under 1000 ft.², all on one level.

16 Somer Rumm Court, Aurora - For Sale

Luxurious estate home built on 1/2 acre premium lot in a prestigious Ballantrae Community. Open concept main floor, gourmet kitchen with centre island, built-in appliances, stone counters and backsplash. Dining room with coffered ceiling open to above makes it truly feel very special. All furniture and decors included! Just Move-In!

Asking: $2,188,800


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Susan Taylor Real Estate Group, 72 Copper Creek Drive, Unit 101B, Markham, Ontario L6B 0P2 Canada

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