Future of Real Estate in Toronto: The Next 6 Months | The Last Honest Realtor - Episode 6

In this episode of "The Last Honest Realtor" podcast, host David Fleming is joined by long-time colleague and friend Chris Cansick to delve into the current state of the real estate market. With a focus on summer market trends, they explore how the market has evolved over the past year and what to expect in the coming months.
David and Chris discuss the latest statistics, economic factors, and the impact of interest rates on buyer and seller behavior. They provide valuable insights into the contrasting dynamics of the Freehold and Condo markets, offering predictions for the fall market and highlighting investment opportunities.
This episode is a must-watch for real estate professionals, homeowners, and anyone interested in understanding the complexities of the real estate market.
In This Episode:
- Analysis of the summer market: Is it really slower?
- Reflecting on the tough fall and winter markets of 2023
- The surprising strength of the 2024 spring market
- Understanding absorption rates and their impact on the market
- The Tale of Two Cities: Freehold vs. Condo markets
- How interest rates are influencing buyer and seller behavior
- Predictions for the upcoming fall market
Timestamps:
00:00 - Introduction
00:06 - Welcoming Chris Cansick to the Podcast
00:45 - Overview of the Current Market: Summer Trends
01:21 - Comparing 2023 Fall/Winter Market to 2024 Spring Market
03:37 - Case Study: Selling Strategies and Timing the Market
06:01 - Changes in Buyer Behavior and Offer Dates
09:06 - Examining Absorption Rates and Market Data
12:03 - Insights on the June Market Slowdown
16:13 - Discussing Interest Rates and Market Impact
19:55 - The Tale of Two Cities: Freehold vs. Condo Markets
26:01 - Predictions for the Upcoming Fall Market
29:41 - Investment Opportunities and Market Predictions
34:02 - Interest Rate Cuts: Impact on the Market
36:34 - Wrap-Up and Final Thoughts
Don't Miss:
- David and Chris’s insights on the current real estate market
- Real-life stories and analysis of market trends
- Practical advice for buyers, sellers, and investors
Subscribe to The Last Honest Realtor on CZcams or your preferred podcast platform. Be sure to like, comment, and share your thoughts on this episode!
#RealEstate #Podcast #MarketTrends #Economics #PropertyInvestment #TorontoRealEstate #TheLastHonestRealtor

[@gmarks1559]

The muppet boiler room condo flipping market is dead 😂. Unbelievable but true

[@jeffotoole4509]

So smart guys. What happens if condo prices get cut in half? How about 100k condos coming on line in Toronto in the next 3 years. How about condos that are coming on line at 1500-2000sft compared to today at best 1000sft going down by the day.
What do you honestly think has been holding this whole house of cards up for the last decade? What has changed in Toronto in the past decade? One answer.
Condos.

[@gmarks1559]

PS, the "shelf life" is the solvency of sellers. They may be able to hold on for now...until they can't and must sell into the current market

[@OddsJet]

Uhh, the condo market is ONLY getting worse from here with the new inventory coming on from a deluge of units from deals where the “purchaser” walked.

[@user-kv4kp4co1r]

⛽⛽⛽⛽⛽⛽⛽⛽⛽⛽⛽⛽⛽⛽⛽

[@reality1984-cf7jw]

Honest ????

[@jay1645]

Cant find any $1 listings so the mkts. must be doing well lol .. am waiting for -0.5% prime and banks to pay me to take a mortg. like in the EU some years back