Market Realities of Pricing Your GTA Condo - Who Really Sets The Price?

In this episode we take a look at the current GTA Condo Markets - Toronto, Vaughan, Richmond Hill, Markham, Brampton, Mississauga, Ajax, Whitby, Pickering for week ending February 28, 2024. We also discuss who really sets the prices.

This video will focus specifically on GTA Condo Markets - Toronto, Vaughan, Richmond Hill, Markham, Brampton, Mississauga, Ajax, Whitby, Pickering but be sure to SUBSCRIBE for more reports on other areas!

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Santo Sessa & Daniel Sessa
Re/Max Premier

[phone]

*This video, nor any of the other videos on the Team Sessa Real Estate YouTube channel, does not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.

[andrewmccoll]

Falling behind every other type of property in price - I'm stoked.

[jehanzebsheikh]

Santo, what percentage Of condominium's being sold are in a situation where the developer will Sue. Or the buyer will lose their deposit period I'm a bit suspicious that maybe the surge in condo prices is more linked. To buyers who are in a position to purchase VS.
Losing a deposit and potentially being sued by a developer. Are there?
Existing condominiums for sale that exceed the value.
Of the current sales of condominiums on the market.😊

[mikethomas]

I am looking at your map of the City of Toronto. Where does the Finch & Islington area falls on your map?

Is it Rexdale or Etobicoke?

[walterpen]

A similar situation is when someone spends $100, 000.00 for a hi end hone theatre system. The room is custom built with projector, theatre seating, etc.
The system is only three years old and you think you'll get back your money??? Think again.

[msingleton]

Banks set the price. Buyers bid what the banks will lend them. That’s why prices doubled when interest rates got cut in half and people could bid twice the amount. Sadly they only look at monthly payment.

[stephen]

Mortgage Fraud is what inflate estate prices, it creates transactions that shouldn't be able to happen and pulls up the transaction price averages.

[xyz]

Santo: Nice job but get a cooler t-shirt. U big shot now. Hire a designer 😎

[julianb]

My first unit in 2015 was downtown core 44th floor. View great. Elevator waits horrendous. After a couple of years my daughter had had enough and I bought in the west end. This time she wanted no higher than 3rd or 4th floor. So with experience height was not a premium! I'd use parking rental rates as a guide and in this west end building if it costs $250/month I'd say that equates to around $50-60k value for a spot.

[markz]

150K for parking!? I have a whole driveway. Ill do it for 140 and even wash your car weekly😂

[parthppatel]

Thank God you explained that to the seller..

[addh]

With current interest rates it will go for less

[deezed]

I learn something new with every episode - the parking story was enlightening

[johnnguyen]

Same with people who paid extra for paint for a new car. Once that car is sold used, no one pays a premium from the colour. The mileage, condition, and options trump paint. You never get dollar for dollar for anything you paid a premium for.

[respnse_beats]

Correct me if I'm wrong but if Toronto condos don't increase in price this March - June it would be the first time that had ever happened in decades.
I think this spring will look quite similar to the left side of the chart (last March - June).

[Armmani]

In addition to that, this is now a used unit not a brand new unit so obviously the second owner will never pay as much as first buyer for extras.