Happy 2016 from the entire Mike Clarke Team! We wish you good health, happiness and prosperity in the months ahead. I also want to take this opportunity to thank you for your business for the past 28 years. Your referrals ensure that your friends and family get the service and results they deserve.
2015 was a banner year for sellers. Low inventory compared to the number of home buyers drove up prices and created a ton of competition. We saw record low Days on Market (DOM) and some bidding wars for sought-after East End properties. Single family dwellings in accessible neighbourhoods came at a premium - a trend driven by millennials juggling new families and busy lifestyles who want homes like the ones they grew up in, without the commute.
Toronto, in fact, led all regions with the largest average price increase of over nine percent. In September, 8,200 properties were reported sold — a record number for any September since the Toronto Real Estate Board has been maintaining statistics! Properties sold at or above 100% of asking. Our sellers were happy: they used our strategic marketing plan to save on costs, maximize their selling price and increase their bottom line. We targeted better-qualified buyers so that many of our clients were able to get firm offers with no conditions.
And the outlook for this year only gets better. Economists predict further gains into this and next year, with average prices actually breaching $700,000. So even though affordability becomes a factor for buyers, steady interest rates, employment and income growth all point to increased values for high demand properties - and Toronto’s certainly in high demand!
I’ve been right across Canada. I’ve seen every province and major city. Born and raised in New Brunswick, I spent my teenage years in Scarborough, where I met my childhood sweetheart (now wife of 38 years) Madeleine. I spent two years in western Canada as manager for a large pharmaceutical company. There was always something about Toronto that made me want to come back. It’s the energy, it’s the quality of life, it’s the people. Toronto is a city of opportunity.
When I’m hired to list a home on the market, people trust me to advise them during one of their biggest life decisions. In an overheated Toronto market where there are 47,000 agents vying for 100,000 transactions per year, you must have a measure of credibility in order to succeed.
I’m a seasoned local sales rep who has a stake in your community. My team has a finger on the pulse of the market and can answer important questions about the neighbourhood, your needs and expectations. I believe we deliver a level of attention that is unrivalled in the city.
Let us prove that we have your best interest in mind. We can ring in this new year with a chat about your real estate needs. Give me a call, the coffee’s on me.