Taking a Look at Toronto’s Fall 2021 Real Estate Market Positive Outlook
The pandemic has been a turbulent time for real estate in the Greater Toronto Area (GTA) and Canada at large. Whether you’re contemplating purchasing your first new home or condo, moving to a larger home, downsizing, or investing in real estate, you’re likely interested in the market and in being kept apprised of the latest trends and developments.
According to the Toronto Regional Real Estate Board (TREB), total residential real estate transactions were down 18% last month compared to the year before (9,046 transactions in September of 2021, compared to 11,033 transactions in September of 2020), and total new listings were down 34% compared to last year (just 13,483 listings in September of 2021, compared to 20,441 listings in September of 2020). The sharp decline in listings and smaller decline in transactions shows that there is a lack of supply in the GTA real estate market, so it’s not surprising to see that the average selling price increased 18.3% year over year (for an average of $1,136,280 in September of 2021, compared to $960,613 in September of 2020). Listing days on the market have also decreased (14 days in September of 2021, compared to 16 days in September of 2020).
With new home and condominium prices on a steady upward swing – with no sign of stopping – the best time to buy real estate in the GTA is, as always, as soon as possible.
RBC’s latest Housing Trends and Affordability Report, which measures affordability based on ownership costs as a percentage of household income, rose to a 30-year high in the second quarter of 2021. In Toronto, the report shows that the share of income a household would need to cover ownership costs is, on average, 59.1%.
The share of income necessary to cover the costs of owning a single-family detached home in the GTA is rising rapidly, making this dream more and more difficult for families to achieve. Soaring demand for detached homes during the pandemic made these homes’ prices increase even more. Fortunately, owning a condo apartment continues to be a more affordable option for many families, young professionals, and empty nesters and downsizers. Semi-detached homes and townhomes are also great options that offer much more value than fully-detached single family homes.
The strong real estate market can make getting into the market a challenge, but is good news for home owners and investors. For those considering purchasing a home or condo, the time is now. Toronto’s real estate market is strong and will have many opportunities for sellers, buyers, and investors alike.
Do you have questions about the Toronto real estate market? Connect with BAZIS on social media (Facebook, Twitter or Instagram) and let us know!
Bartley Towns’ Exclusive Opening Is Here
The long-anticipated launch of BAZIS’ newest Toronto townhome community, Bartley Towns, is finally here!
Ideally located at Eglinton and Victoria Park within an established residential neighbourhood that’s also in the midst of a commercial and residential revitalization, Bartley Towns is the family-friendly Toronto community that many residents have been eagerly awaiting. What’s more, it’s an incredible neighbourhood to invest in.
Many Toronto residents have spent the last 16 to 17 weeks in some degree of isolation due to the COVID-19 crisis, and during this time have looked around the place they live and realized that they’re in need of a change. The new townhomes at Victoria Park and Eglinton, Bartley Towns, offer just that.
With access to the DVP north and south highway immediately adjacent to Bartley Towns as well as easy access to the new Eglinton LRT, the community is perfectly situated. The townhomes also offer incredible designs, beautiful finishes, and limited time exclusive incentives.
The Toronto Real Estate Market Is as Strong as Ever
In July 2020, we’re currently in the midst of what is really, for many, a surprising recovery in terms of the Toronto real estate market. In the past few months, we’ve seen a slow and steady recovery, with each month doubling the sales results of the previous month. June sales levels were back up to what would be expected pre-pandemic.
Post-COVID-19 Real Estate Market Recovered
With 8,700 resales last month, the real estate market shows that it has bounced back to the numbers that would be expected during normal times. These resales cover all product ranges and types, particularly townhomes, which have seen very strong demand and growth.
Pricing, too, has bounced back. Prices have risen between 10-14% the past month, reflecting the tight supply and high demand.
These numbers show that consumers are ready to buy. Although they’ve been sitting on the sidelines watching how the pandemic plays out, they’re now ready to jump into the market and buy. If you’ve been considering buying a new home or townhome in Toronto, now is the time to act – especially since supply is low and builders like BAZIS are now offering special incentives.
BAZIS: Rewriting Toronto’s Urban Story
BAZIS has a long reputation of designing luxurious living spaces with the utmost attention to detail. Being able to successfully combine visionary architecture and design with marketing and construction has turned BAZIS into a reckoning force in pronouncing the city’s landscape.
As a company, we’re known for creating contemporary luxury condominiums and homes located in prime neighbourhoods throughout Toronto.
“At BAZIS, we pride ourselves on design, quality and the prime locations of our projects,” says Veronika Belovich, Vice President of BAZIS.
Unique architecture and high standards of luxurious finishes are reflected in past and present projects which include Bartley Towns, Crystal Blu, Emerald Park, Exhibit, eCondos and 1 Yorkville. Each of these developments is crafted with exquisite design, superior location and elaborate amenities.
Welcome to the Neighbourhood
Bartley Towns is perfectly situated to meet the growing needs of today’s modern families. The townhome community is located on Victoria Park just a bit south of Eglinton and just east of the DVP, 600 metres to the Sloane LRT stop and about a 10-minute walk to Eglinton Square (which is going through a major redevelopment). Just beyond that, the famous Golden Mile has a Walmart, Joe Fresh, shopping, schools, restaurants and more.
Bartley Towns is located close to numerous public and private schools, libraries, community centres and parks with ample green space and walking trails.
Toronto’s newest townhome development has it all, including movie theatres, museums, grocery stores, and several public transit options.
Eglinton and Victoria Park Amenities
Check out our blog post “40+ Shops, Restaurants, and Amenities Near Eglinton and Victoria Park at Bartley Towns” to review a sampling of the existing amenities in this family-friendly neighbourhood.
The neighbourhood boasts 55 restaurants, bars and coffee shops in Victoria Village, and Bartley Towns has 17 schools within a 20-kilometre radius. It has a bike score of 57 – it’s minutes away from the safest and most enjoyable biking trails in the City of Toronto.
The community also has a strong walk score of 69 – leave the car at home and walk to shopping malls, restaurants and entertainment.
Bartley Towns’ strong transit score of 68 exists in part because residents will benefit from the brand new LRT, which is scheduled to be completed by May 2022 (well before Bartley Towns move-ins begin). The Eglinton Crosstown LRT’s development and construction represents an $8.4 billion investment and is set to be a major Toronto transportation artery in the near future. The LRT’s speeds average 28 kilometres per hour, which is up to 60% faster than travel now.
An Exclusive Collection of Just 84 Townhomes
The exquisite collection of just 84 townhomes are all freehold townhomes, which means that you own the home itself.
The townhomes share a common element – the roadway – and so there is a monthly maintenance fee, although it is very low at just $113.95/month.
Home Designs and Floor Plans to Suit Your Lifestyle
Bartley Towns’ home designs are ready to be explored. Elegant brick, stucco, and accent details are meticulously brought together in an interplay of delicate colours and timeless proportions. Expansive and refined windows frame park views from the inside, and charming front yard landscapes embellish your clean and sophisticated front entrance.
The floor plans are primarily 4-bedroom homes, with some having the option to go to 3 or 5 bedrooms. The homes feature multiple balconies and a lot of flex space so you can live in style and enjoy your time at home, every day. Flex space such as a den or home office allows you to customize your home to suit your lifestyle. The kitchen and family room are designed in an open-concept fashion, with different options available to give you various configurations, so you can choose the layout that suits you best.
The floor plans feature large bedrooms and bathrooms, with the option of turning one of the bedrooms into a more open-concept family living space if you only need 3 bedrooms instead of the standard layout of 4 bedrooms. Explore the 7 distinctive floor plans.
Luxurious Features and Finishes
Bartley Towns’ thoughtfully planned open-concept layouts are developed to complement your family’s desires and needs, making your home a distinct expression of your personal taste and style. Building on this, the homes feature luxurious finishes inside and out.
Distinct finishes include tall 9’ ceilings on every single floor, high performance laminate flooring on lower and main levels, beautiful natural-finished oak staircases, elegant quartz kitchen and bathroom countertops, ceramic tile kitchen backsplashes, framed glass showers, and much more.
The community features special incentives as well as an extended deposit structure, so get in touch with our sales team ASAP to take advantage of these limited time offerings (not detailed above).
Book Your Appointment Today
Please contact our sales reps John Ly and Nassim Heshami at firstname.lastname@example.org or 416-639-8788 if you would like to make a virtual or in-person private appointment at our Sales Office (located at 250 Shields Court, Unit 1, in Markham). Signing of documents is available via DocuSign or in person. Deposits can be made via wire transfer or by bringing cheques to our Sales Office.
Bartley Towns’ move-in dates (closing dates) are scheduled for January 2023, and construction is set to begin in the spring of 2021.
Visit the Bartley Towns page to discover the home designs, explore the beautiful features and finishes, and to book your private appointment with our sales team today. And make sure to follow BAZIS on social media (Facebook, Twitter or Instagram) for more news, info, and the latest updates.
Everything You Need to Know About Toronto’s 2020 Real Estate Market Forecast
With Canada’s national housing supply being at the lowest levels seen in 12 years according to the Canadian Real Estate Association (CREA) and home sales rising 0.6% nationally from October to November 2019 (for the ninth straight month of increases), it’s clear that the Canadian housing market is on fire. Continue reading
A Positive Outlook for New Homes in Toronto this Fall
A generally positive fall is underway with a relatively strong real estate market in Canada. This is great news for those investing in real estate, which continues to show strength over the long term as a means to build wealth in Canada.
The Canadian Real Estate Association is reporting slight increases in September, with benchmark prices rising .5% in September over August and increases of 1.3% year over year. Continue reading
Toronto First-Time Home Buyers Could Get a Break
2019 Federal Budget Provides Incentives
A recent budget released by the feds may make buying a home a little easier for first-timers. Buying a home remains a solid investment in the future and millennials want to gain a foothold in the marketplace. This is particularly true in Canada’s biggest cities, including Toronto. Continue reading
2018 Condos Market Outlook in Toronto
While news headlines show dramatic changes in market conditions from 2016 to 2017, if one looks deeper, the picture is much more stable than would first appear. It’s important to note that 2015 and 2016 were not typical years. With an almost frantic pace fueled by low inventory, buyers scrambled to buy, resulting in bidding wars and a huge upswing in sales numbers. The activity seen in those two years make the return to more normal conditions in 2017 and 2018 appear much more dramatic than they actually are. Continue reading
Bazis 2017: a Year in Review
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Condo Market: Forecasting for Fall
The change of seasons brings with it a new forecast for market trends in both real estate and design.
At the beginning of the summer, both the Toronto Real Estate Board (TREB) and Canadian Real Estate Association (CREA) released their forecast for the fall housing market indicating a favourable outlook for condos. TREB reports indicated a decline in home sales overall, but the smallest decline came in the form of condo sales. Continue reading
150 Years Old and still the Hottest on the Market
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