GTA Condo Prices Rise by 44% Since 2017 Housing Peak

Following 2021's record-setting spring housing market in the GTA, Properly, a tech-enabled real estate brokerage, reveals how much home prices have appreciated since the last housing peak in 2017. By comparing the sale prices of GTA homes during the housing peak of January - April 2017 to their current Instant Estimate, Properly found significant increases in value across all housing types, with condos showing the greatest appreciation at 44 per cent, followed by townhouses with condo fees (33%), semi-detached homes (27%), freehold townhouses (26%), and detached homes (21%).

Where Have Toronto Home Values Jumped The Most?

Today, tech-enabled real estate brokerage, Properly, reveals how much homes across Toronto purchased in the six months prior to COVID-19 have appreciated in value. Using its proprietary, AI-powered home value calculator, Instant Estimate, the analysis shows that housing trends seen throughout the GTA in the past year — with homeowners fleeing the city and flocking to the more spacious suburbs — are playing out in a similar way in the city of Toronto itself.

Hey Toronto, how much have home values appreciated in your neighbourhood?

Using our AI-powered home value calculator, Instant Estimate, we’ve compared the selling prices of homes bought in the six month period prior to COVID-19 (September 2019 - February 2020) to their current Instant Estimate value (May 2021). Similar to trends seen throughout the greater GTA, City of Toronto homeowners are moving out of the downtown core in search of bigger homes and more greenspace, causing neighbourhoods on the edges of the city to see the greatest appreciation in prices.

Real estate stories worth sharing

Buying and selling a home can be a stressful experience: finding the best home for your family, trying to keep the house clean for showings, lining up closing dates. There are a lot of moving pieces to consider. These Properly clients moved without the headaches, and you can, too.

All your friends are refinancing their mortgages. Should you?

By When the Bank of Canada cut interest rates three times in one month last year, saw an unprecedented increase in the number of Canadians using our mortgage quoter to refinance their homes.  Our data revealed a 389% increase in refinancing mortgage quotes on in March 2020 compared to February 2020, and a 156% increase in March 2020 compared to March 2019.

Get your home winter-ready with our maintenance checklist

Your home is likely your biggest asset, and the best way to protect it is regular inspections and maintenance, especially before a change of season. There’s a lot of seasonal maintenance tasks you can take care of on your own, or with the help of relatively inexpensive handyperson services.

The trendiest ways to deck the halls this holiday season

This year has been one where anything goes, including decorating three months or more before the holidays. Many experts say that the need for holiday cheer is at its peak in 2020, given the restrictions on social gatherings due to the pandemic. Decorating early for Christmas has been scientifically proven to make people happier, and we could all use a little extra joy this season.

Take a tour of Toronto’s best holiday homes

There’s nothing like beautiful, nostalgic, or even goofy decorations to get you in the holiday spirit. At a time when many holiday traditions have been put on hold, looking at holiday lights from a safe distance can bring us all some much needed comfort and joy.

It’s easy to shop local in these Toronto neighbourhoods

The convenience of big brands can have a certain appeal, but local businesses are what make a place truly unique. They add character to a neighbourhood and give you a special reason to visit. Luckily for Torontonians, we have thousands of local businesses – all of whom need our support ...

How to get your house ready for cozy season

Few of us are excited to see the end of warm weather and the beginning of more time indoors – especially this year – but there is some good news: cozy season is here! To help chase away the winter blues, try tackling a few home decor projects and at-home ...

Toronto neighbourhoods to live in if you don’t want a car

Living in a big city like Toronto comes with plenty of perks, one of which is the ability to walk or use Toronto transit instead of putting wear and tear on your vehicle. When you live in certain neighbourhoods, you may be able to get away with not having your own car at all. Most everything your family could need is within walking distance, and what isn’t available locally is just a short TTC ride away.

Toronto real estate: What $1M will buy you across the city

Just how much will home can $1 million buy you? The answer, of course, depends on where you’re shopping. When you’re buying a house in the Greater Toronto Area, you’ll find a lot of variety in the types of houses for sale (and their prices) by neighbourhoods. Here’s a look at $1M homes in some popular areas to live across Toronto.

Home improvement projects to tackle during your time indoors

This winter, you’ll likely find yourself staying inside more often than usual – why not put that time to good use with a few home improvement projects? There’s always something you can upgrade in your home to make it better suit your needs, your style, or just to make it feel more home-y. Here are a few of our favourite ideas for DIY home projects, with options for any level of home improvement experience:

New year, new home: Millennials are seeking more space as the pandemic moves into 2021

COVID-19 has changed the way many of us think about home. Home is the office, the classroom, the gym, and the spot for date night. Our recent survey shows that millennials’ perspectives on their homes have shifted more than any other generation this year. As we move into our second year at home, roughly half (48%) of millennials report being happy with where they live, as compared with 67% before the pandemic hit.

It was a great year for home prices in these Toronto neighbourhoods

Despite the initial impacts of the pandemic and its resulting economic turmoil on the Canadian real estate market, BMO Senior Economist Robert Kavcic says that 2020 “will be a banner year for the Canadian housing market.” Home prices in October were up 10.9% year-over-year – the fastest rate of price appreciation recorded on CREA’s Home Price Index since August 2017 – and home sale volume beat the previous October record by 14,000 homes.

The perks of buying a home in the winter

Most people considering a move know that spring is traditionally the peak season for real estate. There’s usually more inventory available, and yards look nicer when they’re not buried in snow. However, there’s a strong case for buying in the winter – especially when you can buy now and sell later by working with Properly. The late fall and winter months – November through February – are a great time to buy a home across Canada, and particularly in hot markets like Toronto. Here’s a look at some of the benefits of winter buying that you might not have expected:

In Toronto? Find out what your home is worth in two minutes | Financial Post

There’s a good chance that your home is the most valuable asset you own. But do you know how valuable it really is? Properly is a free online service that provides an accurate home value report. With just a few basic questions, Properly instantly calculates how much your home is worth. Whether you’re looking to sell or you’re just curious, Properly is an easy way to get an up-to-date home valuation — it only takes two minutes and it won’t cost you a cent.

Why you should consider insurance when you move

Outgrowing a house is common, and quickly followed by the many to-do’s – home renovations, staging, and listing. You’re also shopping for your new home – narrowing your choices between the semi and fully detached, selecting what’s more important: the school or proximity to the grocery store, and it’s all on top of your everyday living. What a whirlwind! With that in mind, preventing a catastrophe, especially in these hectic and hassle-filled times, you must consider your insurance needs. Insurance protects you from the sudden and unexpected. If there is a time when you don’t want anything to go wrong, it’s at this critical juncture.

Real estate fintech lets home shoppers buy first and sell later | Financial Post

Sellers can use the guaranteed floor price to buy and move into a new home, and the old home can be listed once they’ve moved out. A real estate technology firm working with Canadian Imperial Bank of Commerce is making a pandemic-driven pitch:sell your home without having to let prospective buyers roam your corridors by getting a guaranteed price that lets you shop for and move into a new house.

Should you buy first or sell first?

After spending a lot more time at home this past year, you might be considering moving to a quieter neighbourhood, or looking to upsize so you and your family have more living space. One question that has likely come up as you’ve thought about your move: should you sell your current home first or buy first and worry about the sale later? Managing a purchase and sale at the same time is no walk in the park no matter which transaction you focus on first, so we’ve outlined the pros and cons to help you determine whether buying or selling first is best for you and your family.

A breakdown of Toronto real estate fees

Here’s a closer look at what you can expect to pay in Toronto real estate fees. Looking to buy a new home in Toronto, but need to sell your old place first? One of the fees you’ll be expected to pay is your Realtor’s commission and the commission for the buyer’s agent. These fees are calculated as a percentage of the home’s final selling price, which can have a significant impact on how much you actually earn from the transaction.

Home Buying 101: How to upgrade to a new home in Canada

Let’s talk buying a new home. Whether you’re moving out of your first condo, trading-up from your current home to accommodate a growing family, or looking for a home with some outdoor space, the home upgrade process has a lot of moving parts you’ll need to consider. We’ve broken the process of home buying into simple steps so you can feel prepared for the exciting journey ahead.

How much does it cost to close on a home?

After the mortgage approval process and the offer, the only thing standing between you and your new home is the closing. During a real estate closing, the property title transfers from the seller to the buyer. You’ll sign several documents prepared by the escrow company and closing agent and pay your share of the closing costs. And when it’s all done, you’ll officially be a homeowner! Here’s a closer look at the process and how you can prepare for a smooth transition.

9 things to look for during an open house or home tour

Nobody wants to buy a house with problems. If you’re on the hunt for a place to call your own, you should do your due diligence by getting a home inspection before signing the paperwork to ensure you’re not investing in costly issues. When you work with Properly, our team of experts will help you manage the inspection, along with anything else you need to ensure a smooth closing.

Home Values 101: How to value a home in Canada

The traditional home valuation process can be complex, but in the simplest terms, a home’s value is equivalent to how much a buyer would pay for the home in the current market. This value is based on various factors and will change over time. The property’s unique features, its location, and changes in the local and national economy can all impact a home’s value. Ultimately, the market is the arbiter of the selling price of a home.

Properly Polish: Before and After of a Kanata Beauty in Suburban Ottawa

The home, located in Kanata, a western suburb of Ottawa, was built in 2010. When this busy family of five was looking to upgrade their home to allow more space for the kids, they turned to Properly to get a cash offer on their current home and buy their next home. The result was a stress-free transaction that allowed the owners to leave the hassle to Properly and line up the closing dates with the purchase of a dream home.

Is Now a Good Time to Buy a Home in Canada?

Is now a good time to buy a home in Canada? Due to COVID-19, you may be hearing conflicting information about the state of the real estate market and the Canadian economy. Below are some questions we’ve been hearing from people looking to sell their current home and upgrade into a new home:

Mortgages 101: Your guide to mortgage options when buying a home in Canada

Finding your dream home is challenging enough, but many home buyers will agree that the mortgage process is the bigger mountain to climb. Not only do you have multiple types of mortgages to explore, but each one comes with its own unique requirements, advantages, and disadvantages to consider. If you’re feeling confused or overwhelmed about your mortgage options in Canada, this mortgage guide is for you.

Guide To Mortgage Insurance For Sellers And Buyers

When it comes to buying or selling your home, you need to consider how mortgage insurance will impact the finances of the transaction. This article will explain how the two types of mortgage insurance are used, and offer a few tips on how to minimize the impact on your finances.

The Impact of COVID-19 on Canadian Real Estate

The last several weeks have been nerve-racking for Canadian homeowners and the world at large. A global pandemic and the resulting economic turmoil have combined to create an extreme level of unease for home buyers and sellers in Canada. To better understand the picture, Properly’s experienced team of data analysts and real estate experts conducted a deep dive into the impact of past pandemics and economic downturns on the housing market. While we can’t predict what will happen in the future, we are here to provide perspective on patterns observed in the past.

How Important Is Your Credit Score When Getting A Mortgage?

When applying for a mortgage, lenders consider several factors: your income, the size of your down payment, the property itself and last, but certainly not least, your credit score. It can be easy to overlook your credit score, since after all, we don’t learn about credit scores in school. However, that would be a big mistake! A good credit score can mean the difference between getting a mortgage at a low-interest rate and having to pay much more.

The Counter Offer: How to Negotiate a Real Estate Deal

Every successful real estate transaction is preceded by a series of negotiations. This negotiating process is driven by what’s known as a counteroffer. A counteroffer states that the seller has accepted a buyer’s offer – but only if one or more changes are made to the offer’s terms. It’s common for a counteroffer to stipulate changes to various contract items, such as: