July 2023 Newsletter

Wednesday Jul 05th, 2023


Hello, July Overview: Market Report- GTA, York Region, Community Reports Monthly Maintenance Tips SMART Seller Success Stories- Case Study: Sell & Lease New Blog Post: Top Picks for Retirement Communities in Ontario Booking Fall Speaking Series                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   


Hello, July
  • Market Report- GTA, York Region, Community Reports
  • Monthly Maintenance Tips
  • SMART Seller Success Stories- Case Study: Sell & Lease
  • New Blog Post: Top Picks for Retirement Communities in Ontario
  • Booking Fall Speaking Series

From the Toronto Regional Real Estate Board:

The Greater Toronto Area (GTA) housing market continued to improve from a sales perspective in May 2023. Unfortunately, the supply of homes for sale did not keep up with the demand for ownership housing. Sales as a share of new listings were up dramatically compared to a year ago. This is a clear signal that competition between buyers increased substantially compared to last year, resulting in the average selling price reaching almost $1.2 million last month.

“The demand for ownership housing has picked up markedly in recent months. Many homebuyers have recalibrated their housing needs in the face of higher borrowing costs and are moving back into the market. In addition, strong rent growth and record population growth on the back of immigration has also supported increased home sales. The supply of listings hasn't kept up with sales, so we have seen upward pressure on selling prices during the spring,” said TRREB Chief Market Analyst Jason Mercer.


What this means for GTA Sellers:

Despite the tightening restrictions on lending, buyers are adapting to the realities of the market and making bids above listing price to secure desirable properties. Interest rate increases (with perhaps one more coming later this summer) have largely failed to cool the real estate market throughout the GTA. Individual areas of affordability remain, but the general prospects for all homeowners is a very robust seller’s market.

Interested to learn more about the impact of interest rates on the housing market? Check out these articles


What this means for York Region Sellers:

Due to continuing tight market conditions, in other words not enough houses for sale to meet buyer demands, the sale price of detached homes continues to rise in York Region. By selling and buying either a townhouse or an apartment, Downsizers could net between $744,000 and $1,008,600 by taking advantage of the gap in average selling price. Also noteworthy is the slower price recovery of the condo segment: the sale prices of detached homes are rising at a greater rate than condos, so now is a very good time to make the SMART move!


Neighborhood Reports May 2023
If you’d like to see the recent sales statistics for your community, simply click on the link below to access our helpful infographic.
Richmond Hill
Summer Home Maintenance Checklist

With all the rain we have had lately, now is the time to check for the water-tightness of your roof and windows. Like dad always said, “An ounce of prevention is worth a pound of cure.” Consider adding the following to your “Honey Do” list:

  • Check condition of roof shingles, flashing and chimney caps are sealed properly

  • Check garage and garage door tracks for deterioration and lubricate bearings

  • Check sealing around windows and doors for air or water leaks

  • Fertilize lawn.

New Blog Post

Top 6 Places to Retire in Ontario

If you’re interested in maximizing your retirement nest egg while minimizing your stress levels, small town living might just be for you. Click on the link below to read my latest blog article giving you my top picks outside the GTA.

Click The Link
Fall/Winter Speakers Series

Do you belong to a group that invites speakers to present, either virtually or in person? We provide ready-made seminars on a variety of topics related to real estate - all with absolutely no cost, obligation or sales pitch. 

Talks can be tailored to the interests and time requirements of the group, can include interesting visual aids, follow up workbooks, and special exclusive offers. 

If your group needs a fun, interactive and informative speaker, why not reach out to Sharon at 416-460-5636 or sharonparenteau@kw.com to discuss your group’s needs. 

A review from A.H:
"Don't miss an opportunity to attend one of Sharon's seminars. You will definitely learn something of value.
Sharon has been there, done that and is willing to share with you all her knowledge for an easy transition. Her talks are humorous and interactive."


SMART Seller Success Stories

Client Case Study #1 Selling Condo Townhouse and Leasing

When our lovely client contacted the SMART Realty Solutions team, they were ready for a big change. Change of scenery, change of situation, and change of lifestyle. They wanted maximum financial freedom and the fewest responsibilities possible. The custom solution we helped them to create was to sell their lovely suburban townhouse and to lease a midtown condo. 

The sale of their townhouse began with consultations with our vetted contractor and professional stager. Both made recommendations about improvements that would help the Seller achieve the maximum sale price in the shortest time possible. We provided step-by-step guidance, helping the client to prioritize and prepare their property. After repairs, painting and packing were completed, it was time for our professional staging company to come transform this property into the “Wow!” we knew it could be. Professional photography, 3D walkthrough, and floor plans were the building blocks of an aggressive marketing campaign that resulted in more than 55 agent showings, 30 open house visitors, and a total of 13 offers. The winning bid was $119,000 over asking. Needless to say, the client was absolutely thrilled with the outcome.

While much of this was happening, we toured more than a dozen properties for lease in the client’s preferred neighbourhoods. There was a surprising variety of offerings: from century-old, character-filled spacious garden units, to sparkling high-rise modern skyscrapers with all the bells and whistles. Of keen importance to our client was walkability. Eventually we found the perfect new place to call home: a spectacular two-bedroom condo with breathtaking views from two balconies. The SMART Realty team coordinated all aspects of the application process, including liaising with the listing agent and landlord to ensure a smooth transition for all involved. It was such a privilege to help our client achieve their goal of being free from worry about finances or maintenance, to finally enjoy the retirement lifestyle they deserve!


Client Case Study #2 - Sell Spacious Thornhill Condo and Move West!

With retirement in the offing, our lovely clients had a singular goal: move closer to their adorable
(and so far, only) grandchild who was located about two hours too far away. After mapping out a handful of possible locations, we got to work on preparing their beautiful condo to hit the market. 

These clients, like so many we deal with, asked whether they should sell first or buy first. We recommended they be further down the path to buying before listing for sale. We needed to be sure which towns, what kinds of properties, and what budget would meet their retirement goals. 

After some enjoyable and informative road trips, they got the answers they needed to feel secure in making an offer on a dreamy next home. This stunning renovated condo bungalow far exceeded their expectations, and was secured at a price that still left them a retirement nest egg.

With the peace of mind of knowing where they were heading, our lovely clients finished preparations to ready their condo for sale. Having already downsized once, these clients knew all about the importance of presenting their property in the best possible light - especially when there were two other condos for sale in the same building! After decluttering, some paint touch ups and minor repairs, our professional stagers ensured every aspect of this condo would have maximum appeal. The team work paid off handsomely, with an over-asking sale in a bidding war that was created through diligent follow up with showing agents, two staffed open houses, and extensive online advertising. They were on the market for a little over two weeks. What about the “competition” units for sale? Well, one of them eventually sold weeks later, and the other listing was terminated. The moral of the story is to create solutions for our sellers that bring them the most peace of mind while achieving their overall life goals.

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S.M.A.R.T. Realty Solutions · 156 Duncan Mill Rd · Unit 1 · North York, On M3B 3N2 · Canada

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