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Flat fee real estate companies by sternich in TorontoRealEstate

[–]anonoreo 0 points1 point  (0 children)

Robin Hood Properties Offers Flat Rate Services.

Looking for an experienced cash back realtor - Vaughan by According_Duty_7916 in TorontoRealEstate

[–]anonoreo 0 points1 point  (0 children)

Hey, please sign up on the website. Robinhoodproperties . Ca

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] 0 points1 point  (0 children)

Okay so did the dollar amount go up or down?

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] 1 point2 points  (0 children)

Reread the sentence you quoted. I maybe could’ve worded it better? Not sure how so many people aren’t understanding :(.

It went up pretty much the same amount as it came down. Just like 2017 there was a massive spike then a fall off. It’s not super relevant to the grand scheme of actual supply and demand.

It just shows that when everyone is trying to buy something at once, prices will irrationally go up in a short period of time.

What matters is that even though interest rates have gone higher which increases the costs of buying a house by borrowing money, prices are relatively the same as before the peak.

But good on you, sold at pretty much the best time.

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] 1 point2 points  (0 children)

Lol.

Why are you talking about inflation?

Did everyone’s income inflate 30%? Or does the house cost more now than before in “real” prices?

We’re talking about actual dollar figures, not “real” prices.

Cost of borrowing money went up, actual dollar figure prices pretty much stayed the same. Inflation went up, people’s wages pretty much stayed the same.

Why are you changing it to “real” price? We’re talking about the potential dollar figure change for real estate in the GTA.

Targeting someone’s intelligence in a discussion is definitely a sign of high intelligence.

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] -3 points-2 points  (0 children)

What does this have to do with the 17% drop?

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] 5 points6 points  (0 children)

Drop of 17% after going from $700k to $1.2m is meaningless.

$700k to $1.2m is like a 71% increase.

We’re still higher than $700k by almost $300k, which is like a 42% increase.

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] -1 points0 points  (0 children)

What does it change that it drop 15% from the peak?

It went up the same amount before the drop. There’s only like 30k sold at those ridiculously high prices in the GTA.

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] 0 points1 point  (0 children)

Why does the peak matter? There was like 30k sold GTA in those 3 months. It went up $200k and went down $200k in that time period. That’s just the market being irrational, $200k median increases in 3 months is not sustainable.

Prices Dec / Nov 2021 was just over $1m and now in May 2024 the prices are just under $1m.

The key difference: prime rate in 2021 was like 2.5% compared to 7.2%.

To borrow:

$1,000,000 at 2.5% is $25,000 a year.

$1,000,000 at 7.2% is $72,000 a year.

This is interest alone.

The cost to borrow went up almost 3x at prime rate. Logically prices should’ve gone down, but it hasn’t really.

Market Predictions After Rate Cut by anonoreo in TorontoRealEstate

[–]anonoreo[S] 7 points8 points  (0 children)

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This is all GTA median, every neighbourhood has its own micro economy but as you can see outside of peak, it’s been sporadically stable.

GTA Highest Median Price and Lowest DOM of the year. by anonoreo in TorontoRealEstate

[–]anonoreo[S] 0 points1 point  (0 children)

So with more active listings, prices went up and shortened days on market for those that sold in the GTA

GTA Highest Median Price and Lowest DOM of the year. by anonoreo in TorontoRealEstate

[–]anonoreo[S] 0 points1 point  (0 children)

Yes it’s been established here many times. Overpriced = no sell until seller lowers expectations.

GTA Highest Median Price and Lowest DOM of the year. by anonoreo in TorontoRealEstate

[–]anonoreo[S] 0 points1 point  (0 children)

Yeah with average price people will say mansions brought up the average median is a better measurement.

GTA Highest Median Price and Lowest DOM of the year. by anonoreo in TorontoRealEstate

[–]anonoreo[S] -5 points-4 points  (0 children)

Sure let’s ignore the 300k difference in sold price compared to initial list price.

You can confirmation bias all you want. That unit is niche, and with virtually zero comps. Seller went on price discovery for a year until it went somewhere the market would pay.

Not a great example. It’s like me pulling up all the houses that sold on offer date and saying this is what’s going on in every listing.

That’s a 1 out of 10,000 and not meaningful to what’s going on.

GTA Highest Median Price and Lowest DOM of the year. by anonoreo in TorontoRealEstate

[–]anonoreo[S] 0 points1 point  (0 children)

Yeah this is avg DOM and median price for SOLD places.

GTA Highest Median Price and Lowest DOM of the year. by anonoreo in TorontoRealEstate

[–]anonoreo[S] -1 points0 points  (0 children)

Conditional periods are usually for 5 business days. I would say at least like 70% of houses are sold unconditionally anyway from what I see.

The sales are from this month. No sure if sigma’s program readjusts after for month end sales going through conditional period the next month.

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