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Toronto home prices down 24% - history suggests the correction may not be over
Jim quoted as "Jim Emilson of Better Properties Real Estate Group at Royal LePage Signature Realty" in a piece on the GTA correction. Average GTA prices were down 24.4% from the February 2022 peak. He appears alongside Daniel Foch of Valery.ca.
“Sellers have to forget about what happened one or two or three or four years ago, because that was a completely different world. If you’re going to sell in this market today, the only thing that really matters is what has happened in the last three months.”
“When you get burned by an asset class, whether it’s real estate or equities, you never go back to it.”
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What they got: Houses
Jim was the listing agent on this detached home on Bristol Ave., near Davenport Rd. and Dufferin St. It sold in two weeks for $850,000, 96 per cent of the $889,000 asking price, after selling for $322,000 in 2007.
“This home has many coveted features, including nine-ft. ceilings with the original crown moulding on the main floor, gleaming oak hardwood floors throughout, stone counter tops in the kitchen and a six-piece upstairs bathroom. It also boasts a main floor sunroom which overlooks the landscaped and private backyard.”
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What They Got: Condos
Jim was the listing agent on this one-bedroom Wrigley loft at 245 Carlaw Ave., Leslieville. It sold in three days for $470,000, 98 per cent of the $479,000 asking price, after selling for $442,000 in February 2013.
“Built in 1907, this loft originally housed the chewing gum factory for William Wrigley Jr. Co. The opportunity to own this authentic piece of Toronto’s history generated huge interest and showings, and explains why the unit sold so quickly.”
“This impeccably maintained loft features luxurious polished concrete floors, a gourmet kitchen and a dramatic original leaded pane window wall.”
For media
Working on a story and need a Toronto real estate voice? Jim is available for comment.
WhatsApp: 416-523-3964 · Email: jim@emilsongroup.com