TREB reports 7,492 sales in October which is a 6% increase compared to October of last year. However, new listings are down 2.7% compared to October 2017. This has resulted in a tighter overall market.
Average selling price is up 3.5% year over year to an average $807,340.
Personally, we have not seen any slow down in pricing and have actually sold properties for record pricing in both multiple condo and freehold property transactions this month. Turn out has been less on the showing front and # of offers in competition, but with the right marketing, negotiating and exposure record sales pricing can still be achieved.
I just have to state this again this month re: multi unit investment properties: If you have $300,000 in equity available (savings, home equity), we can turn that into a cash positive investment generating $80,000 - $100,000 in gross revenue a year and full passive income once paid off in 15-20 years. That's fun and stress free retirement or early retirement opportunity!
There has been continued amazing multi-unit home offerings this past month. If you are interested in truly:
1) creating wealth
2) creating a passive income (perfect for those with no pension)
3) handing down financial stability to your kids
4) creating an opportunity for your older kids to take on responsibility and learn about real estate
5) provide for an amazing retirement
Call me to find out how multi-unit homes can do ALL of this. I'll show you what I have done for my clients.
Foodie Tip: Brothers Resto at Bay and Bloor. Tiny resto built above Bay Subway station. Do you hear the subway rumbling...yes. Is it small...yes. Will you care...No. Ambiance (even with train rumbling and shaking) is great, service exceptional and food was unique and delish!