We’ve known for some time now that housing prices in Toronto are – forgive the pun – through the roof.
And even with word on the street suggesting the market is potentially cooling off, some properties in Toronto are still selling for whopping amounts.
Take, for example, the case of luxury real estate company Jordan Grosman Group. The realty firm specializes in buying and selling luxury real estate in Forest Hill, Yorkville and Cedarvale. Led by experts in the business, Jordan Grosman and Dorian Rodrigues, they’ve managed to make some mega sales this year.
Here’s a look at some of the properties and what they went for:
3 Clarendon Crescent
This majestic 1906 Georgian manor comes hidden away within a private gated crescent, complete with a semi-circular driveway. It sits on a 0.38-acre park – a pretty unique green area for a spot right in the middle of the city.
Inside, the amenities are extensive: three fireplaces, a butler’s pantry, stainless steel appliances, heated floors and marble countertops. The main floor reception rooms lead to a large, covered veranda, making it perfect for entertaining.
Sold for: $11,900,000. Which is hardly surprising, all things considered.
143 Dunvegan Road
The crowning jewel for Jordan Grosman Group is the sale of this luxury, ultra-modern property, located on one of the most prestigious streets in Forest Hill.
No detail is spared with this property. It encompasses 10,000 square feet of living space, and features five bedrooms, seven bathrooms, a designer finished, art-deco inspired oak hardwood staircase with glass railing and an open-concept living, dining and kitchen area.
The kitchen is any chef’s dream come true, with high-end finishes, solid-oak flooring, a remarkable Caesarstone island, Gaggenau dishwashers, wine fridge and pantries.
And you can’t miss the glass sliding door that walks out into a patio with a barbecue, dining and living area – complete with a custom wood-burning fireplace.
Its primary bedroom is a meticulously designed retreat. There’s a whole lot to love about the walk-in wardrobes, built-in makeup counter, heated flooring, large windows… and an ensuite bathroom with a luxurious free-standing tub.
A fitness space, powder room, spa room and recreation room complete the perks of living in this luxurious residence. And, for nature lovers, the private backyard features stunning landscaping, custom cabanas, and an inground pool with hot tub.
Sold for: Want to venture a guess? Well, this truly top-of-the-line property went for $13,600,000.
Finally, you might want to feast your eyes on these luxury townhomes located in Forest Hill.
There are four units in all, with each comprising four bedrooms, four- and-a-half bathrooms, high ceilings, open-floor layouts and top-of-the-line appliances.
But that’s not all. You can also expect some truly luxe elements such as a private elevator, two heated parking spots, heated floors, a private rear yard, and classic exterior designs by architect Richard Wengle.
Everything – from the hardwood flooring to the stone countertops – oozes luxury and a chic modern feel. And being located in the family-friendly Forest Hill neighbourhood means that these townhomes are right in the heart of Toronto, next to stores, cafes and prestigious schools.
Sold for: Over $4 million. The best part though? Two of the units are still on the market! You might want to hurry if you have an eye on them.
Also, it’s worth keeping these numbers in mind the next time someone talks about the Toronto property market cooling down!
Real estate: Homes in Canada's most affordable markets – CTV News
The average price of all residential property types in Canada fell to $629,971 in July, a significant drop from the record-high average of $816,620 recorded in February. (Both figures are not seasonally adjusted.)
While most Canadian real estate boards and associations saw a drop in the average price of residential properties, regions that have maintained some of the lowest prices throughout the pandemic continue to do so, said Shaun Cathcart, CREA’s senior economist and director of housing data and market analysis.
“The places that were always affordable continue to be affordable,” he told CTVNews.ca in a telephone interview on Tuesday. “The further away you are from major cities … [in] that sort of middle part of the country, that is definitely where you’ll find the most affordable house prices.”
Regions such as Saguenay, Que., Saint John, N.B. and Trois-Rivières, Que. had the most affordable home prices across Canada in July. Cathcart also pointed to rural parts of provinces such as New Brunswick, Quebec, Ontario, and Saskatchewan, as having low average home prices compared to other parts of the country.
Additionally, activity within these regions remains relatively strong, Cathcart said. With more affordable home prices, markets in these areas aren’t as sensitive to interest rate hikes as some of Canada’s more expensive markets, such as the Greater Toronto and Vancouver Areas.
“Sales in the Maritimes didn’t get the memo because it’s so much more affordable,” Cathcart said. “In Quebec, the Maritimes and the Prairies, activity is still above average.”
With lower average home prices, it’s possible more people will move to places where housing is more affordable, Cathcart said, especially with Canada’s inflation rate remaining high. CTVNews.ca has compiled a list of properties currently on the market in some of the most affordable regions across Canada.
Year Built: 1988
Lot Size: 301.7 sq. m
Located on a 301-square-metre lot, this house in Saguenay, Que. features three bedrooms and two bathrooms. In the kitchen are black granite countertops and bright white cabinets. Several exposed brick walls line the home, which also has a fully finished basement. A detached garage sits behind the property, and the backyard includes a deck.
SAINT JOHN, N.B.
Year Built: 1976
Property Size: 209 sq. m
Lot Size: 426.98 sq. m
This four-bedroom, two-bathroom home is just a short drive away from uptown Saint John, N.B. Making up the main floor are dining and living rooms, as well as a large eat-in kitchen complete with a new stove and dishwater. On the upper level is a sizeable master bedroom as well as a newly renovated bathroom. The finished basement can be used as either a family room, office or gym.
Year Built: 1919
Property Size: 137.52 sq. m
Lot Size: 212 sq. m
Built in 1919, this semi-detached home combines wood floors with interior brick walls. Along with five bedrooms and one bathroom, the house also has a spacious common area with a wood fireplace on the main floor. At the entrance of the home is a veranda, while the backyard area is surrounded by greenery. The house is within walking distance of the city centre and key amenities in Trois-Rivières, Que.
NEWFOUNDLAND AND LABRADOR
Year Built: 1967
Property Size: 137.5 sq. m
Lot Size: under 0.2 hectares
Located near Quidi Vidi Lake in St. John’s, N.L., this end unit townhouse has three bedrooms and two bathrooms. An open-concept living and dining area with large windows and a propane fireplace occupies the main floor. On the upper floor are a storage room, bathroom, and three bedrooms with enough space to serve as a TV room or office instead. In the backyard is a deck, storage shed and inflatable hot tub.
THUNDER BAY, ONT.
Year Built: 1910 to 1920
Property Size: 142.14 sq. m
Lot Size: under 0.2 hectares
In addition to three bedrooms and two bathrooms, this Thunder Bay, Ont. home also has a contemporary kitchen that connects to a large sunroom. With enough space to serve as an additional living room, the sunroom also offers views of the fully fenced backyard and patio. The combined living and dining rooms inside have a wood burning fireplace, and a walkout basement completes the home.
Year Built: 1969
Property Size: 80.64 sq. m
Lot Size: 290.41 sq. m
This updated bungalow features three bedrooms, two bathrooms and a finished basement. The main level has laminate floors throughout, as well as large windows that allow natural light to enter the home. The open-concept floorplan blends the living room with the dining and kitchen area, which has plenty of cabinet and counter space. A large patio occupies the backyard, and the home itself is a short drive from downtown Regina.
Year Built: 1945
Property Size: 94.76 sq. m
Lot Size: 526.76 sq. m
With a spacious front lot and backyard, this Saskatoon home is surrounded by greenery. In the backyard is a sizeable deck along with trees and garden boxes full of flowers. Inside, hardwood floors run across the living and dining areas, and a stone-clad wood burning fireplace creates a cozy atmosphere. The kitchen has stainless steel appliances and a tile backsplash, while three bedrooms and an updated three-piece bathroom sit on the top floor.
Year Built: 1928
Property Size: 101.2 sq. m
Lot Size: N/A
Situated in Quebec City, this apartment unit is located on the first floor of a newly renovated building, and features new insulation, doors and windows. The unit has three bedrooms and one bathroom, as well as an open-concept living, dining and kitchen area with white walls throughout. Nearby are the Cartier-Brébeuf National Historic Site, and the St. Charles River.
Year Built: 1910
Property Size: 101.64 sq. m
Lot Size: 290.32
This three-bedroom, one-bathroom home in Winnipeg’s Lord Roberts neighbourhood features a number of upgrades, having been recently renovated. These include a new kitchen, updated floors on the main level, and a new bathroom with an oversized tub. On the main floor is an eat-in kitchen and sizeable sunroom that can also serve as an office space. Completing the home are a basement and large backyard with a deck.
Year Built: 2019
Property Size: 49.8 sq. m
Lot Size: N/A
Built in 2019, this condominium suite has one bedroom and one bathroom, as well as a den. In the kitchen are white cabinets and quartz countertops that extend to create a breakfast bar. The unit also has a balcony that offers views of downtown Edmonton. Residents have access to the building’s rooftop patio, as well as amenities such as a spa and pool.
Local builders still busy as real estate market takes a break – Times Colonist
The real estate market may be taking a breather, but there has been no such break for homebuilders in the region judging by new housing start figures from the Canada Mortgage and Housing Corporation.
The numbers, released Tuesday, show 2,681 new homes were started through the first seven months of this year in Greater Victoria, ahead of last year’s pace when 2,500 new units were started.
It’s a tale of multi-family projects in two parts of the region, said Casey Edge, executive director of the Victoria Residential Builders Association.
Edge said Victoria and Langford are once again doing all of the heavy lifting.
“There are a bunch of municipalities that just fly under the radar every year, like Oak Bay that still doesn’t have zoning for duplex housing,” he said noting Oak Bay has built just 19 new homes this year, while North Saanich has started 16.
“And people question why do we have a housing affordability problem,” he said.
“Well, you have just a handful of municipalities that are really carrying the weight for 13 municipalities.”
The lion’s share has been done by Victoria so far this year.
With a focus on condo and rental apartments, the city has seen 1,219 homes started, well ahead of last year’s 696. Langford has started 663 so far this year, off last year’s pace of 862 through the end of July.
Edge said what’s missing is the missing middle housing — townhomes and houseplexes, rather than the usual condos and single-family homes — that can suit small families and provide more housing options in all parts of the region.
The fact builders in at least two of the region’s centres are busy may help the market catch up a bit, as the number of property sales has slowed considerably. The B.C. Real Estate Association released numbers on Tuesday showing Victoria’s sales dropped 37.5 per cent in July compared with the same time last year, while the Island saw a 40 per cent drop and the province fell 42 per cent.
“High mortgage rates continued to lower sales activity in July,” said BCREA chief economist Brendon Ogmundson.
“Many regions around the province have seen sales slip to levels well below normal for this time of year.”
At the same time, provincial active listings rose 28 per cent year-over-year.
Inventories remain quite low, but the slow pace of sales has tipped some markets into balanced or even buyers’ market territory, the association noted.
Year-to-date, residential unit sales were down 29.3 per cent to 56,801 units, while the average residential price was up 13.2 per cent to $1.03 million.
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Podcast: Real estate marketing strategy with Publish Partners | RENX – Real Estate News EXchange
Podcast: Real World of Real Estate with Gerald Tostowaryk
Max Jakubke, principal and founder of Publish Partners, and the firm’s digital marketing director Bianca Elliot discuss numerous strategies for effective online real estate marketing with host Gerald Tostowaryk.
One of the focuses for the episode, the second in a series on real estate marketing, is using data effectively to improve your storytelling ability about a project or development.
As part of the discussion, Jakubke and Elliot share some examples of successful campaigns.
Publish Partners is an international firm based in Vancouver.
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