PAUSE, PREP and PROTECT April 2020
Thank you for helping us launch our first Downtown Toronto Homes Connection newsletter. We planned on sending this to you earlier this month, then paused.
Now, a month into a steady flow of Sotheby’s International Realty sponsored Zoom meetings upgrading our technical virtual skills and managing the emotional rollercoaster of Covid-19 we are better equipped to deliver the expertise needed to help you move in this complex new market.
Until the Ontario Provincial Government declared a state of emergency, the Toronto March resale market was on course to be one of the most robust months on record. A 12.3 % increase representing 8,012 residential properties were reported sold compared to 7,312 reported in March of last year. Similarly, the average March sale price came in at $902,680 almost matching April 2017’s record high of $920,000. By comparison last March the average sale price came in at $788,133 was less 14.5 % than March 2020.
April TREB sales will show a substantially contracted market. What we have not seen so far into April is a significant contraction in selling prices. The true state of the Covid-19 market toll we will explore more in May once the April stats are out. However, during this pause over the last month we do know that many of our clients are preparing to sell their houses. And many buyers are calling to ask when is it best to buy?
For this Downtown Toronto Homes Connection newsletter we replaced a section on celebrity real estate choosing instead to feature an article on Lisa-Marie’s Mom. Sorry Drake, see our Blog to view Drake’s mansion and basketball court. Although published on the dawn of Covid-19 we also included the Sotheby’s International Realty Top Tier Report that provides an informative snapshot of Canadian luxury real estate nationally.
We are here to answer your questions on and listen by phone or video conferencing as to how we can help you.
Stay safe, stay healthy, and we look forward to seeing you sometime soon.
Lisa Marie, Linda, Wendy, Lori and Cherry
We approached Sotheby’s expecting superb advice and state-of-the-art marketing. In short order the Doorey Chu Team surpassed what we needed, and what we hoped for. At every stage in the process, they demonstrated professionalism, with an attentive care and personal support that earned our trust. We are grateful to have had them handle every aspect of our house sale. We were encouraged with their willingness to help us through the entire process always with a keen eye for the necessary details. Lucinda and John, Sellers, Berryman Street