January 2018


Dear Friend,


2017 was an interesting year for the Toronto real estate market.

It was a rollercoaster ride of activity, the highs and lows brought about by government’s decisions to try to slow down home prices increases utilising negative policy changes.

Record sales in the first quarter of the year were followed by a decline in demand in the spring and summer, as home buyers adopted a wait and see attitude towards purchasing as the Ontario Fair Housing Plan (FHP) was announced. Research later showed that while foreign home buying was not a major driver of sales and prices in the GTA, the FHP, which included a foreign buyer tax, had a marked psychological impact on the marketplace. Government policy continued to influence consumer behavior as changes to federal mortgage lending guidelines were announced late summer, and buyers jumped into the market to buy before the guidelines took effect in January.

2017 ended with over 92,000 homes sold and average prices rising to $822,681, up 12.7% over 2016. The condominium market saw the highest increase in prices, followed by semidetached homes as affordability continued to be the major factor influencing buyer decisions.

All of the current market conditions have been brought about by demand, as population growth outstripped the growth of supply. If the government would shorten the length of time it took to bring new land and new homes to the market (currently years), (a positive policy, as opposed to negative policies of increased taxation and limitation) prices would stabilise.

I believe that the first 3 month of 2018 will be less active than usual due to a number of factors. The first one is that the negative press of the comparison to last year, (best in history) vs this year, will put the average person into a waiting mode to see what happens to prices. The second factor is that many buyers who would have bought in the first quarter, bought in the fall, before the new mortgage changes took effect. And lastly, it’s COLD and less buyers will be out. That means the first 3 months will be a great time to buy, before everyone jumps back into the market April and May.

It might sound self-serving of me to say this, but consider that none of the factors that created this market have changed. Demand, economy, immigration, low interest rates, have not changed. Prices in Toronto will only drop long term if the population shrinks, and I do not see that happening.

Some people wait nd see what happens, others make things happen. If you are looking to buy or invest, I believe now is the time!

Give me a call, I’ll be happy to put my knowledge and expertise to work for you!


Stay warm, its cold out there!


Your Friend in Real Estate

December, 2017

 Dear Friend,

Well, though I hate to admit it, I was wrong! I predicted 6,500 homes sold in November when in fact there were 7,374, making November 2017 one of the best Novembers in history. The reason for this is simple, the government announced changes to the mortgage qualifying rules commencing January 1 2018, and a lot of buyers jumped into the market to make sure that they qualified under the old criteria. This resulted in stronger than usual sales and that trend will continue in December.

Some interesting facts; while the number of listings sits at approximately 18,200, a balanced market, (4 listing for every sale), and home prices are relatively stable, the condominium market is red hot! Prices on condominium apartments are up 22 % in 2017, with approximately 1/3 of all the sales on the Toronto real estate board being condominiums. This is a natural trend as many people can no longer qualify for single homes and have turned to condominiums. Condominiums have also become great investment opportunities, as rents have increased significantly and Toronto continues to grow.

If you’re thinking of buying or selling, as long as you do it in the same marketplace there is no downside. Warren Buffet proved the benefit of buying a good product and holding. I found that over the years my clients never made a mistake buying, the mistake was always selling.

If you know somebody considering buying, have them call me as soon as possible. With the changes in the mortgage qualifications they should do it in 2017 vs 2018.

 It’s been a wonderful warm fall, best wishes for the holiday season and throughout 2018.

 Your Friend in Real Estate

November, 2017

Dear Friend,


Historically October is the busiest month of the Fall market and once again this year was no exception. October’s 7,118 sales represented an above-average increase between September and October of almost 12%, a more pronounced increase than usual. That points to stronger Fall market conditions, not unexpected given the government’s announcement of stricter mortgage qualifications starting January 1 2018.


The change in mortgage qualifications lowers the amount of mortgage that buyers will be able to get, thus eroding their maximum purchase price.


This has created an urgency for buyers to buy before the January 1 deadline, hence the increase in sales activity. Those buyers that would have normally bought in January/February are buying now, and I expect lower than normal sales at the start of the year. Sales at the start of 2018 will be impacted as well as some people will wait to see what happens. (Some of my Sellers are waiting for the Spring Market as they believe prices will go up and some buyers are waiting for the Spring market because they believe the prices will go down!)


Your home is not a business investment and should not be treated as one. If you buy and sell in the same market there’s little impact on prices going up or down or market conditions changing. If you’re considering selling and not buying then I would strongly suggest you consider doing it right now as the demand is strong. If you are a buyer, now is the time to buy because of the mortgage changes.


While home sale activity in the Toronto area goes up and down depending on confidence in the real estate market, none of the factors affecting Toronto prices have changed. We are in a boom economy, low interest rates, huge immigration, and ultimately Toronto is cheap compared to other cities. There is no doubt that prices will continue to rise over time.


While this is an overview of the market, each situation is different and based on your needs and circumstances I may recommend a different strategy for you. Give me a call, let’s talk. I want to give you the best advice possible and make sure that you’re well looked after!


After all, you do have a friend in real estate!


Sam Wadhwa Broker Of Record

Neelam Wadhwa Sales Representative



Your friend in real estate.


(PS I am never too busy for your referrals!)



October 2017 News Letter

Dear Friend,

The 6,379 TREB sales in September, while not the 9,800 of a year ago, are a good indication that the market is healthy and that there is strong demand for homes. Unfortunately our society is one of the following others, and so quite a number of people who were prepared to pay unreasonable prices for homes in March are now waiting to see what happens to the market before they jump in.

 While the market is on average still a sellers’ market with three listings for every sale, there are some market areas where there are six listings for every sale and the condominium market with less than two listings for every sale, resulting in multiple offers and prices increases. Condominium apartments on average have increased 23% since the start of the year.

 Good news, bad news! (In the Toronto market)

 The good news for buyers is that while the inventory of homes is not huge, it’s certainly better than it was earlier this year. Those buyers who have purchased or who are purchasing today do not have the pressure of the multiple offers (a well-priced property still receives multiple offers!) and the heartache of losing sales as they did at the start of the year.

 The bad news is that the prices that we had in March were an anomaly (at the current time) and on average prices came down 20% from March of this year, (still up 15 % since December 2016).

 Many potential sellers are waiting or holding on for prices to return to the high levels of March before they sell. There is logic in that decision if they are moving out of the country or planning to rent. However the majority buy another property. Waiting for prices to go up makes no sense since whatever increase they have in the value of their home, will occur in their new home as well.

 As always, market knowledge and experience ensures a favorable outcome. That’s where I come in if you’re thinking of buying or selling or know of someone who is, give me a call let me put my experience and expertise and the power of RE/MAX behind you!

 If you have any questions please feel free to give me a call, after all you do have a friend in real estate!


Sam Wadhwa (Broker Of Record)

Neelam Wadhwa (Sales Representative)


Your Friend in Real Estate.

September 2017

Dear Friend,

There is a lot of misinformation in the real estate market these days. The confusion is created by the fact that we have different markets in different areas of the city and yet people are trying to have a general statement over the whole marketplace. Imagine, it’s like having a one size fits all bathrobe that can fit a five foot person or six foot person. Yes it fits but not really well. That’s the problem with general statements.

Last month (August) there were 6,357 homes sold and the listing inventory of approximately 16,500 listings or about 3 listings per sale. The rule of thumb is that when you have a balanced market there is one sale for every 4 to 6 listings. It’s balanced because buyers have a good choice of what they can buy and they can negotiate slowly and properly with the sellers to come to a price that both parties are happy with. A sellers’ market is when there is less than four listings for every sale and that means the buyers do not have much of a choice and bidding wars occur, as experienced over all the last few years. A buyers’ market is where there are more than six listings for every sale and the buyers have an advantage over the sellers in that they can find the most desperate sellers who need to sell.

As we enter the fall market, on average, there are three listings for every sale, so a sellers’ market. Some areas of the city (Central Toronto) fit this model. Other areas of the GTA (Richmond Hill or Newmarket) have 5 listings for every sale, or a balanced market. King City on the other hand has 10 listings for each sale, a buyers’ market. Condominium apartments on the other hand are a hot commodity, with1 sale for every two listings.

Every segment the city is experiencing a different market, and that’s not taking into account detached or semi-detached homes, again, a difference that’s important to the strategy when buying or selling.

More than ever before, that’s the value an experienced realtor like myself brings to the table, giving you the necessary information so you can make the right decision.

If you are trying to figure out the market, or have a friend who is considering buying or selling, give me a call and let me show you what is really happening.


Have a great September

Your Friend in Real Estate.

Sam Wadhwa (Broker Of Record)

Neelam Wadhwa (Sales Reprsentatives)


P.S. I am never too busy for your referrals.


August 2017

Dear Friend,

Another good month for the Toronto real estate board, as TREB members sold 5,921 homes in July. The average sales price now stands at $857 823, up 17% over year-end 2016 of $729,827. There are 18,751 active listings on the market and with an anticipated sale of 5,500 homes in August, There are 4 listings, (homes listed for sale) for the average buyer to choose from. These are averages, with some areas having only two listings available per sale, others having 6 homes for sale. A balanced market is described as 4-6 listings available per sale,  a seller's market is described as less than 4 listings per sale and a buyer's market is described as 6 + listings per sale.

Are you wondering why I said another good month, when the statistics talk about the market being down 40% year-over-year? That's the problem with some statistics, they don't give you a true picture. If Michael Jordan scored 60 points in a game (which he did 5 times in his career) and then the next game only scored 30 points, the headlines would read Michael Jordan’s scoring down 50%. Not really reflective of what happened or the quality of the game that he had, but it's a statistic! Another silly and misleading statistic is when the commentators say such and such baseball team hasn't beaten the other team in the last 30 years in the playoffs. The teams change pretty much every couple of years, what is it significance of bringing in a 10 or 20 year win-loss with one team against another? It makes no sense to me.

With 2016 being the most active year ever in the history TREB, and March where average prices increased by 30%, we have to take the comparison statistics with a grain of salt, as they do not reflect the reality of the current real estate market.

The economy, interest rates, high immigration, high demand, lack of inventory, remain unchanged. The government housing policies, while making some buyers delay their decision, will have no long-term impact on the Toronto real estate prices as we've seen in Vancouver. In fact, on average, in July homes sold at 98% of asking price with an average time on the market of 21 days. Good properties marketed well, are still selling quickly!

The wait-and-see attitude of some buyers and the normal slower summer market has created an opportunity for those who missed the market earlier this year to buy.

If you're thinking of purchasing or know of someone who is considering buying or selling, give me a call, I'll be happy to help.  After all, you have a knowledgeable and experienced friend in real estate!


Have a great August!

Your friend in Real Estate.

Sam Wadhwa (Broker of Record)

Neelam Wadhwa(Sales Represemtative)

Re/Max Realtron Real Realty Team


July 2017

Dear Friends,

June’s sale of 7,974 homes brought the year to date number to 54,813, at an average price of $870,106, up 19% since the start of the year. Historically, 53.97% of the year’s sales are done by June 30, so it looks like 2017 will have 100,000 homes sold, down from the record breaking 113,000 of 2016.

Having said that, I must admit, that I would not be surprised if we experience a record number of sales, (not prices), in the fall market.

Why? None of the factors that have created the GTA market over the last 5 years have changed. Demand, affordability, strong economy, high immigration and Canada’s position as a great country to invest in, remain stronger than ever.

The market slowed as people took a rest from the 30% price increases in March, and the Ontario Fair Housing Plan, announced on April 20, put some buyers on the sidelines, waiting to see the impact. Here it is.


             Sales & Average Price by Major Home Type 1.7




Average Price





































Condo Apartment








Year-Over-Year Percentage Change






















Condo Apartment














The next 2 months are, I believe, an opportunity to buy without the same level of pressure experienced last year. While prices in some areas have softened since March, well priced homes are still getting multiple offers and selling overnight. Buyers have adjusted to the new prices, and recognise good value when they see it.

I know it sounds self-serving, but if you are considering buying, I strongly recommend the time be now, while inventory levels are a little higher and others wait to see what the fall market brings.

Give me a call, let’s talk, after all, you do have a friend in real estate!

Have a great July.

Your friend in Real Estate.

Sam Wadhwa (Broker of Record)

Neelam Wadhwa(Sales Represemtative)

Re/Max Realtron Real Realty Team

June 2017

June 2017

Dear Friend

Traditionally, the Toronto spring market’s months of April and May are the most active months for Toronto realtors. 2017 bucked that trend, as March’s record-breaking number of 12,027 homes sold (18% more than March 2016) took many buyers that would have normally purchase in the spring market.

While the 10,196 homes sold in May are great numbers, they are down 20% from May 2016. The listing inventory increased to 18,477 homes and though it’s an improvement, we are still in a Sellers’ market as buyers do not have many choices of homes to buy.

The question of price is a great question. The prices that homes sold in February and March were record breaking prices, perhaps overinflated due to competition and the media. As the market took a breather after 30% plus price increases, those sellers who had bought and were waiting to sell in the spring market are now not getting the prices they expected. Today’s sales are not getting March’s record breaking prices! Prices are still strong, but are down from the prices we saw in March. Sellers caught owning two properties have to adjust their price expectation. The result, prices down. Those sellers pricing their home correctly in the new market conditions are getting multiple offers and selling quickly.

The good news is that the underlying factors that have caused price increases in the Toronto market have not changed. Lack of supply, low interest rates, high immigration, a strong economy and other positive factors mean that prices will continue to rise at a more normal 4%-7%. But prices will rise!

Some buyers have adopted a “wait and see attitude” before they act, this reduces competition. Over the next two months Sellers with two homes will reduce their prices so as not to be stuck with two properties. These factors will create a great opportunity to buy before we go back to the type of market we saw last year. Prices will not go up 30% in one month, but the demand is too high for prices not to increase.

If you are considering buying or know of someone who is thinking of buying, give me a call. Let me share with you my thoughts about why Toronto prices can only increase. The rest of the world thinks Toronto is a great place to invest in real estate, we should as well!

Have a great month!

Your Friend in Real Estate

Sam Wadhwa (Broker) & Neelam Wadhwa (Sales Representative)

Re/Max Realtron Real Realty Team

May 2017

May 2017,

Dear Friend,

Finally, a little respite in the frenzy of buying Toronto homes! A frenzy, I believe, created by the media, which were predicting prices would increase by over 30% in March. Really, a self-fulfilling prophesy! By the way, this is the same media that a few months back was speculating that Toronto prices were abnormally high, and the bubble was going to burst and prices would fall. My only comment; the media is primarily concerned about ratings and advertising income, so their news and headlines are biased to achieve their goals! 

We started 2017 with extremely low home inventory, and an abundance of buyers. This continued the trend of multiple offers and led to an abnormally strong Toronto market! The media jumped on the band wagon and a difficult situation became even more so. The average price jumped 21% since the end of 2016, and some areas and properties increased by over 30% in the same time period.

Such huge price jumps could not be sustained forever, and as buyers took a pause, more listing started coming on the market, balancing the demand. On April 20, the government added a 15% tax on foreign buyers, (estimated to be 5%-8% of the GTA sales) which also made some buyers adopt a wait and see attitude as to how prices would be affected.

So here are the facts for April.


April 2016

April 2017

YTD April 2016

YTD April 2017

Properties Sold





New Listings





Average price






The basic factors have not changed in the GTA. Low interest rates, great economy, confidence, immigration and continued demand. This will continue to drive the market in 2017. Sellers who priced their homes at prices in excess of the market value will either take their houses off the market, or adjust the price to reflect the current market value. The media will make a fuss of someone reducing their house by $100,000 and still not selling. (Really to be expected if the house is priced at $1,300,000 and is only worth $1,000,000).

What we are experiencing at my company, RE/MAX Realtron, is that the number of messages, sign calls and appointments to view our listings remains strong, and buyers now have more properties to look at before they decide to purchase. (We had 1,113 transactions in April) If you are considering buying, now is a great time, while some are waiting to see what happens. The additional inventory and lighter demand puts you in a better bargaining position than before.

Let’s talk, the situation is complicated. I’ll be happy to explain it all and show you how you could benefit from my experience in the current circumstances!

Have a great May,

Your Friend in Real Estate.

Sam Wadhwa (Broker) & Neelam Wadhwa (Sales Rerepresentative)

Re/Max Realtron Real Realty Team

April 2017

April 2017

Dear Friend

As expected, (March being the start of the Spring Market) Toronto Real Estate Board Realtors reported 12,077 residential sales through TREB’s MLS® System. For the TREB market area as a whole, annual sales growth was strongest for condominium apartments and detached houses.

While new listings were up strongly compared to last year, the rate new listings growth was still lower than the rate of sales growth. As a result, prices rose due to the competition of more buyers than houses available.   

The challenge is that the growth of the city population is outgrowing the available space. It’s too bad that the various municipalities are so slow to allow permits for new developments and charge high fees to builders to get the land developed. More land for homes and lower costs to develop lands would go a long way to solving the undersupply of homes we are experiencing.

April will be another banner month for home sales as we continue into the Spring Market. While it’s true that a house sells itself, the price a Seller gets is dependent on the skill and marketing plan that an experienced, full time agent brings to the table. In this crazy market, I see daily examples where the house would have sold for more had the agent done a better job.

Remember, I am never too busy to answer your questions or handle your referrals!

Have a great April!

Your Friend in Real Estate

Sam Wadhwa & Neelam Wadhwa