Happy New Year! We're looking forward to another busy year at Move Smartly, bringing you content that impacts your real estate and lifestyle decisions in our fine city of Toronto. But first, a rearview glance at the stories that got our attention in 2014.
- The hottest neighbourhoods at the start of 2014 may have come as a surprise to some - east-end family oriented neighbourhoods in East York and Scarborough reflected the strong demand for affordable, detached home options in an increasingly competitive market.
- April saw some slow down in the market, but things were hot again in September when Realosophy's Globe and Mail's Fall Market Survey was released, with semi-detached houses proving to be the hottest product on the market.
- As 2014 drew to a close, key themes crytallized. For houses, a continuing story of shadow demand - pent-up demand for houses due to the relatively low number of houses offered for sale. For condos, a continued shift towards condos rented out by investors vs. lived in by owners.
- With real estate horror stories serving as click-bait for all of Canada's mainstream media, Move Smartly's John Pasalis showed readers how to do a more useful analysis of whether it's better to buy or rent.
- Also in 2014, Move Smartly scrutinized traditional expert advice. John shared why he doesn't always agree with real estate market analysis produced by sources like Deutsche Bank while David Larock took on BMO's analysis of the mortgage market. In November, Dave's astute writing was recognized by the Canadian Association of Accredited Mortgage Professionals when he was awarded the inaugural Financial Literacy Leader of the Year award in Montreal.
- Our team also took on their industries this year. John wondered why it's easier to become a Real Estate Agent than a hairstylist while legal expert Bob Aaron highlighted the changes that the Law Society should make if they are serious about protecting consumers.
All of which leads us to the 64 million dollar question (or $566,726 question if we go by the average house sale price today) - how will 2015 play out for Toronto real estate?
Get back to your fireplaces and hot chocolate and keep your iPads on this space - we're on it.
Realosophy Realty Inc. Brokerage is an innovative residential real estate brokerage in Toronto. A leader in real estate analytics and pro-consumer advice, Realosophy helps clients buy or sell a home the right way. Email Realosophy