Condominium Real Estate Data – Qtr2/20 | Condo Mania

Welcome to the Ontario condominium real estate data segment of my condo home library, the Condorary.

Real Estate Data Contents

– statistics by the Toronto Regional Real Estate Board (TRREB)
– rental vacancy rate analysis from Shaun Hildebrand
– effects of unemployment on the market by John Pasalis
– a condo industry survey, plus a rent report conducted by Ben Myers
– where condos are for rent or sale in Ontario
– how your property tax is calculated

Real estate data reveals a wee wee virus grows into a recipe for financial trouble. Will communal investors boil a pot of condos for sale in Ontario?

In the oven, you know all condo owners are baking a real estate investment and inquiring into the fluctuating value of their property. You may agree that most investment analysis seems to cover real estate in Canada as a whole excluding condominium housing. The Ontario outlook is mainly on the Greater Toronto Area (GTA) and Ottawa where the largest numbers of condominiums are found. You might find searching the real estate listings in other provincial areas can act as reasonable housing market guidelines.     

TRREB Releases Q2 2020 Condo Market Statistics

Toronto Regional Real Estate Board President Lisa Patel announced that second quarter 2020 condominium apartment sales amounted to 3,459 – down 50.8 per cent compared to 7,024 sales in Q2 2019.

Source: © Toronto Regional Real Estate Board

Visit the TRREB Video Library for an in-depth understanding of what is happening today and over the last 9 years by examining it’s real estate data.

GTA Rental Vacancy Rate Rises in Q2

Urbanation’s survey of purpose-built rental apartment projects that have been completed in the GTA since 2005 reported a vacancy rate of 1.8% in Q2-2020, rising from 1.1% in Q1-2020 and 0.9% a year ago in Q2-2019. 

Source: Shaun Hildebrand, © Copyright 2019 Urbanation Inc.

How is Toronto Real Estate Hot With Unemployment at 14%?

  In spite of three months of economic free fall due to COVID-19, the Toronto real estate market seems to be returning to its pre-pandemic vigour. 

Source: John Pasalis, © Copyright 2020 Realosophy Realty Inc. Brokerage.

GTA Condo Industry Survey

Bullpen Consulting prepared a quick five question survey on the Greater Toronto Area condominium apartment market in early June and sent it to our distribution list via email, and it was posted on my personal LinkedIn page.

Source: Ben Myers, © Bullpen Research & Consulting Inc.

July 2020 Rent Report

The average rent for all Canadian properties listed on Rentals.ca in June was $1,770 per month, down 2.4% monthly and 9.4% annually. The median rental rate was $1,700 per month in June, down $50 from May 2020 and $125 from June 2019 (-6.8%). 

Source: Ben Myers, © 2020 Rentals.ca

Real Estate Marketplace

Meanwhile, are you looking for condos for sale in Ontario or condos for rent in Toronto to find somewhere to live? Are you checking on market prices for condos for sale or condo rentals as a simple matter of interest? No matter the reason, finding condominium listings and prices province-wide below may help answer your questions.

Ontario Condos For Sale or Rent

At the time of writing there were approximately 7937 condominium suites listed for sale and 6584 condos for rent in Ontario. Go see the choice for yourself! 

Usually the privilege of property ownership is accompanied by the payment of a tax. Have you ever wonder how your property taxes and those of your neighbours are calculated?

Municipal Property Assessment Corporation

Every four years, MPAC assesses your property’s value. In 2016, MPAC updated the assessed values of every property in Ontario. All properties will have a legislated valuation date of January 1, 2016 that will be used for the 2017-2020 property tax years. Our assessors are trained experts in the field of valuation and apply appraisal industry standards and best practices.

Source: © 2020 MPAC.

 

The MPAC Video Library contains further insights into property taxation.

 Be safe.

Helpful Links

Condominium Law Practices Chit-Chat – Qtr2/20  <> Condominium Law Practices Chit-Chat – Qtr3/20

Condominium Real Estate Data – Qtr1/20 < > Condominium Real Estate Data – Qtr4/20 

Condominium Real Estate Governance – Qtr2/20  <> Condominium Real Estate Governance – Qtr3/20

Condominium Real Estate Life – Qtr3/20 

Home – Ontario Condominium Culture