Ling Chen GTA Real Estate

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Ling Chen GTA Real Estate

Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Ling Chen GTA Real Estate, Estate agents, 30 Eglinton Avenue W #201, .

27/04/2025

For Rent: separate entrance basement apartment!

https://www.facebook.com/share/1BKHLfKLqb/?mibextid=wwXIfr

12/07/2024

Just like that another sold in a day! I am super happy about this one as this listing was on the market for over 6 months with another agent so I knew the house needed to be repackaged and go out to market with a different strategy and it worked! Reach out if you are looking to buy or sell, I can help!

09/07/2024

Just listed this perfect 3bed and 3bath starter home in prime school district for $749,000! Call me for more details!

05/04/2024

How is it April already?! The first quarter of 2024 was a slower start, March 2024 home sales reported were lower, down 4.5% compared to March last year. However, there was enough competition between buyers to see a moderate increase in prices, up 1.3% to $1,121,615.

There has been a gradual improvement in the market this past quarter. More buyers have adjusted to the higher interest rate environment and at the same time homeowners are anticipating a more active spring, as we are witnessing an increase in new listings so far this year. The first quarter ended with sales up by 10.8% per cent over the same period last year with prices remaining flat.

The availability and cost of housing continues to be a hot topic amongst political channels. With continued population growth and a limited number of new home sales, we will see a very limited supply of available homes in the foreseeable future.

What does this all mean for you buyers and sellers? Let’s chat!

19/03/2024

The client wanted a quick sale and I delivered!
Firm, over asking and sold in less than 24hrs!

How? Send me a message and I’ll share with you! 😉

If you are looking to sell and looking to get the most out of this market, let’s chat!

18/03/2024

Just listed! 3 bed 4 bath town perfect for first time home buyer! Message or call me for more details!

Check out this listing https://www.realtor.ca/l/bLMEl/ja?propertyIds=26634123

05/03/2024

Hello everyone! The weather is warming up and it looks like the residential real estate market has picked right up. Population growth and a resilient economy has continued to support the overall demand for housing. Greater Toronto Area home sales were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier, the average selling price was up 1.1% to $1,108,720.

With the Bank of Canada holding interest rates, homebuyers are coming to terms with the current costs of borrowing and are taking advantage of the new inventory of homes that are coming to market. There were over 5607 homes sold across the GTA in February, up almost 18% compared to February of last year.

The Toronto Regional Real Estate Board's Chief Market Analyst Jason Mercer has reported that as we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences due to higher borrowing costs. In the second half of the year, predicted lower interest rates will further boost demand for home ownership. First-time buying activity will also be a contributing factor, as many renters look to trade high monthly rents for a long-term investment in which they can live and build equity.

Population growth continues at a record pace, with the anticipated lower borrowing costs, the demand for housing, both ownership and rental, will also increase over the next two years. The new construction market has begun to pick up as buyers look for choice and affordability. New inventory will continue to play a key role keeping supply and price in check. Our city desperately requires this inventory and with the growth in population not slowing down the need for housing will only continue. Therein lies the opportunity to invest in real estate. Developers of new homes and condominiums, at the moment, have incredible incentives that will not last as our Real Estate market starts to improve. If you were ever considering investing in real estate or would like to know more about available options please do not hesitate to contact me.

Be sure to get out and enjoy this unseasonably warm weather and I look forward to connecting with you soon! :)

08/06/2023

Hi Everyone hope you have been enjoying the heat as Spring has really begun to heat up as we get ready for summer.

The GTA housing market continues to improve as the volume of sales in May were up almost 25% compared to May of 2022. Competition between buyers has increased substantially compared to last year, resulting in the average selling price reaching almost $1.2 million last month, nearing the average price of May 2022.

The big driver of our market continues to be the lack of supply of homes available for sale, active listings are down by 23% over last May. The months of inventory figure, which measures the pace at which homes are selling, is currently at 1.3 months, if no more homes, of all types, did not come to market we would be sold out of our product in just over a month. The demand for home ownership has picked up with many homebuyers recalibrating their housing needs due to higher borrowing costs and are moving back into the market.

TRREB's Chief Market Analyst, Jason Mercer, has stated that strong rent and record population growth due to immigration has also supported increased home sales. However, the supply of listings hasn't kept up with sales, so we are now seeing upward pressure on selling prices this spring.

Many of you are confused by the market given all the rate increases, happy to discuss and share my thoughts on the market and how you can win with real estate right now!

Feel free to reach out!

05/02/2023

Can you believe it? We are already through the first month of 2023.

The real estate market in the GTA acted as expected with sales volume and average selling price in January being very similar to December's averages. When comparing January 2023 over January 2022, with the impact of higher borrowing costs over the last year, prices and volumes are down considerably,

With the recent quarter of a basis point rate hike and the bank of Canada stating that they would be putting a hold on future raises for the time being. More buyers are jumping into the market.

Demand for housing continues to remain strong as active listings continue to be well below seasonal levels. With only 3 months worth of inventory.

The new construction market has begun to pick up as labour, supply chain and material costs adjust back to more normal levels. With developer costs slowly coming down and partnered with aggressive selling promotions the educated and experienced buyer/investor are taking advantage of today's current market conditions, knowing that many of these promotional opportunities will not last forever.

It’s gonna be an interesting year! Happy to chat if you are thinking about jumping into the market.

15/01/2023

Happy New Year, I hope you have been able to spend some quality time with friends and family over the holiday break. Ok this is a long one as there is a lot of interesting information. Following a very strong start to the year, home sales trended lower starting in the spring and continued throughout the balance of 2022 as aggressive Bank of Canada interest rate hikes hampered housing affordability, putting downward pressure on prices to mitigate the impact of the higher mortgage rates.

There were 75,140 sales reported through TRREB's MLS System in 2022 down 38.2% compared to the 2021 record of 121,639. The average selling price for 2022 was $1,189,850 up 8.6% compared to $1,095,333 in 2021. This price growth was due to a strong start to the year.

As we compare December 2022 with December of last year the adjustments in our market have become more evident. Sales volume is down just over 48% with active listings up 169%. With sales down and the supply of available homes up, downward pressure on pricing has begun to set in. Prices are down 9.2% this past December compared to December 2021.

With the jump in supply of all available home types the Months of Inventory number still remains in seller’s market territory. The supply of available homes for sale is still considered low which is assisting in the easing of prices; hence we are not seeing substantial price declines.

Condominium pricing remains flat even with the volume of sales down over 50%. Condominiums still remain an affordable way to enter the residential real estate market, with borrowing rates on the rise and the average price of freehold properties slowly moderating, condos remain in demand amongst first time buyers and investors.

New Home Construction wrapped up the year with less product entering the market and with a lower volume of sales. Investors continued to sit on the side lines and are waiting for borrowing costs to show some consistency before jumping into the market. Construction costs still remain expensive and with the cost of borrowing going up developers are unable to make any substantial adjustments to their pricing models. However, developers have come up with some interesting promotions to attract purchasers, from cash back on closing to rental guarantees, developers are finding ways to sell units and keep buyers interested.

With inflation rates still running high we are anticipating another rate increase from Bank of Canada this January. Until we see some consistency in interest rates the inventory of available homes for sale will continue to rise, further moderating prices and giving buyers more choice. 2023 is going to be an interesting year for real estate. Anytime there is a change in the market opportunities present themselves, I am always happy to discuss what those opportunities might look like for you.

I wish you and family a very successful 2023, please never hesitate to reach out with your real estate questions as I am here to help. 🙂

Address

30 Eglinton Avenue W #201

L5R3E7

Telephone

+16473828618

Website

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