One of the x-factors in understanding the Toronto Real Estate market is the issue of detached versus non-detached homes.
In her podcast, The Case For The Detached Home, Farrah Ranjbar points out the discrepancy between the two types of homes coming out of the market correction.
Continually affordable interest rates and a favourable outlook for the second quarter of 2018 has given buyers and sellers a great platform for understanding the new rules of the market.
Turned off by spiralling prices for detached homes in the city, buyers had begun flooding into the condo market. But recent figures show the price of detached homes in many Toronto core areas dropping to $1.7 million from $2.1 million.
As always, Farrah's advice to prospective buyers and sellers is simple. Take advantage of the elements a stable market gives you. You can secure your financing with a firm idea on the value of your home.
And consider your home as something other than an investment. Your home isn't just a profit centre, Farrah said, "it's a place you want to live with your family."