Toronto real estate and covid-19 impact weekly update | March 23-27

Good morning and hope this finds everyone in good health and spirits!
Our society’s obvious need to practice social distancing at this time has presented some significant challenges and in my efforts to keep everyone up to date as to how it relates to the greater Toronto real estate market please find below my second installment of an ongoing weekly Covid-19 impact update!

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Toronto, Ontario and Vancouver real estate boards urge suspension of open houses due to coronavirus outbreak

Our recent feature in the Globe and Mail.

The Real Estate Council of Ontario, which regulates the Realtor profession, said in an update Monday that it also recommends an end to open houses, except when “absolutely necessary,” but has stopped short of banning them.

Stephen Glaysher, a Realtor with Re/Max Urban Toronto, said in a note that he had already noticed a “significant downturn” in activity for the Toronto region in recent days, based on MLS data.

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Toronto real estate market conditions and the covid-19 pandemic impact

Keeping you informed to current Toronto real estate market conditions and the covid-19 pandemic impact

We have noticed a significant downturn!

From TREB

March 1- 19    
Overall sales 5221 in 2020 vs. 4265 in 2019
Condo sales in the downtown core (C01+C08) 323 in 2020 vs. 305 in 2019

March 16-19   
Overall sales 658 in 20202 vs. 782 in 2019
Condo sales in the downtown core (C01+C08) 38 vs. 55 in 2019

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In the News

We’re pleased to have been featured recently in the Toronto Star, The Globe and Mail, BNN Bloomberg and other publications.

Stephen Glaysher, who’s worked as a downtown Toronto realtor for 18 years, set up a site called MLS Sold Data as a resource for current and potential clients to boost transparency and trust.

He said he’s long been an advocate of more disclosure on sale prices, in part to keep his own industry in check.

“I see a lot of unethical business practices with real estate agents,” said Glaysher.

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