Market Update JULY 2016

July 2016

Dear Friend,

As of the end of June, Toronto Real Estate Board members sold 60,293 listings, another record month. On average 54% of all the sales in a given year are done in the first 6 months, and that means that another 51,000 homes will be sold by December 31st. 

Historically May is the busiest month of the year (10.77% of the annual sales) and it’s true again this year  with 12,870 homes sold with June a close second (12,794). 

As we enter the summer months, fewer people might be looking at homes, but sales, demand, and prices will remain strong. I have already seen a slight change in the market, where properties not marketed and priced strategically are not selling the way they 
were a month ago.

Though 2016 is a record year for price increases and the amount of homes sold, it is still a great time to buy real estate either as a homeowner or an investor. The summer, with less competition, is an ideal time to start. However, I must stress, you need a knowledgeable, experienced guide to help you through this process. Luckily, I am such a person! 

If you have any questions or know of someone who could use my expertise, please give me a call, I would love to help.

Have a great August,

Your Friend in Real Estate.

Market Update May 2016

Toronto Report May 2016

May 2016
Dear Friend,
The Toronto real market continued its torrid pace with the sale of 12,085 homes in April, the best April in the 100 plus year history of the Board, and up 7.4% over April 2015. 
While the average price in all of the Toronto Real Estate Board marketing areas for all types of residences now stands at $697,679, the price breakdown for local areas is as follows:
⦁    City of Toronto        $718,682 (Detached Homes only in April $1,257,958)
⦁    York Region            $896,476
⦁    Durham Region      $494,643
⦁    Peel Region            $582,496
Is there a real estate bubble? Will prices adjust? Is it too late to buy? These are questions I am continually asked, and while everyone has an opinion, no one, truly knows. Economic forecasts and weather forecasts are similar. The systems are just too complicated and the experts are best guessing with the information at hand, and that changes minute by minute.
Here is what I say to my clients.
People need to live somewhere. Our vacancy rate is near 0%. In other words very low. Basement apartments in Newmarket are renting for $1,200 per month. Downtown condos are renting for $1,800 -$2,200+ monthly! If you buy a property to rent and hold, prices may adjust, but will always recover as the population continues to grow. As long as you have a good tenant the price fluctuations will not affect you.
If you are buying a property to live in, it’s your home, and prices may fluctuate but as long as you live there, price is irrelevant, and will always recover.
⦁    In 1975 the average price was $57,581
⦁    In 1995 the average price was $203,028
⦁    In 2015 the average price was $ 622,217
Who knows what the next 20 years will bring, but I do know Toronto will continue to grow and people have to live somewhere!
Have a great May and don’t forget, I am never too busy for your referrals!
Your Friend in Real Estate.



Market Update February 2016


February 2016.

Dear Friend,

The weather in December and January was not the only thing that was unseasonably warm! The Toronto real estate market continued its hot pace with the sale of 4,672 residential transactions in January, up 8.2 % over January of 2015. The average price in January was $631,092, up 14.1% over January 2015’s average price of $552,925.

This upward trend will continue in 2016 as a recent polling conducted for TREB by Ipsos suggested that 12 % of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong despite rising prices of homes. With low interest rates, home ownership continues to be seen as an affordable long-term investment.

Here are some reasons why Canada is so popular an investment opportunity for so many foreign investors.

See World's most expensive cities

I know the above are “averages”. Prices are dependent on location, condition etc. However this gives you a general idea why so many foreign investors are purchasing in Canada. We are a BARGAIN!

 If you or a friend are considering purchasing an investment property, (yes, 2016 is a great time) please give me a call, there are some great opportunities in Toronto!


Have a great February,

Your Friend in Real Estate.

Market Update January 2016

Dear Friend,

Toronto Real Estate Board members sold 4,945 homes in December, bringing the 2015 calendar year total to 101,299. This 9.2 % increase over 2014’s 92,782 sales, marked 2015 as the best year in the history of the Board. The average selling price for 2015 as a whole was $622,217 – up 9.8 % compared to $566,624 in 2014.

City of Toronto Average price     $659,270

Aurora Average price                   $746,715

King Average price                     $1,006,701

Markham Average price               $803,357

Newmarket Average price            $618,498

Richmond Hill Average price        $886,773

Vaughan Average price                 $797,377

Stouffville Average price               $789,730

Pickering Average price                $530,413

Whitby Average price                    $488,304

The outlook for 2016 appears to be more of the same if not better! We have several factors occurring that will impact the market. First is the weak Canadian dollar. That has two immediate consequences. One, investors from around the world can buy Canadian real estate at 30% off. (Real estate sales in the USA are slowing down as foreign investors are not buying due to the strong US dollar.) Two, American companies are now buying Canadian, whether its goods or holidays or consultants as its 30% cheaper! Secondly, with worldwide humanitarian crises continuing and Canada accepting more refugees, demand for housing will increase tremendously!

All in all, a strong real estate market with increased demand, low interest rates and people who can afford the mortgage payments. A sure fire recipe for increasing prices.

Have you bought your land yet, we are not making any more! If you have questions about how to invest in real estate, give me a call, I would love to help you create a great investment/retirement strategy.


Have a great 2016!


Your Friend in Real Estate,

Marius Mitrofan, B.Eng

ABR, CRS, SRES, Broker

Re/Max Realtron Realty Brokerage

Why Marketing Matters: The House that Won’t Sell

A case Study How to Sell a House that Won’t Sell by Marius Mitrofan

SUMMARY: The House has already been on the market for 981 Days with 7 different REALTORS.


The three most important factors when selling your home are marketing, presentation, and price.


Happy New Year!


As the new year sneaks up on us, I know that you have a lot of expectations and dreams to fulfill. I know that with your effort and dedication you will accomplish all. We would like to start off 2016 by reminding you that your friendship, your business, and your referrals play a huge role in our business. And we thank you for that.

All the best,

Marius Mitrofan


Dear Friend,


The 8,200 home sales reported for September 2015 by the members of the Toronto Real Estate Board was a new record for September’s sales! This brings the number of sales for the first nine months of 2015 to 80,331, (another record), a 9.5 per cent increase compared to the same time period in 2014. At this rate, total sales for 2015 are expected to be at or near the 100,000 mark.

I wish I could say that these numbers are a surprise to me, but the truth of the matter is that real estate has been going strong for the last 20 years and other than the media occasionally trying to stir up fear in the marketplace by predicting that there is a bubble or the bubble will burst, it is it has been and will continue to be very very strong market. I know that this sounds like a self-serving statement, however these results are a testament to the importance that people give to home ownership, both as the enjoyment of home ownership, as well as a long-term investment. When these factors are combined with massive immigration and investment from outside of the country by individuals who see Canada as a safe investment vehicle as well as a great place to live, these results are not surprising at all.

Two factors are fueling the demand for ownership and investment opportunity. One is the low interest rates which makes homeownership affordable to more people than ever before and second the low Canadian dollar (70 cents US) puts Canada “on sale” to overseas investors at a third off.

Despite the increased prices, real estate still remains a viable investment and I’m still strongly recommending to my customers that they buy more and invest more property in Toronto. Without a doubt our population will continue to increase and as a population increases the demand for housing continues and……prices increase!

If you’re thinking of buying or selling or know of someone who is, please give me a call. I’ll be happy to chat.


Have a great October,

Your Friend in Real Estate.