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Monthly Market Updates

Toronto Real Estate Market Report – October 2020

As we enter the third quarter of pandemic activity in the city, one thing is becoming abundantly clear – houses are in high demand… and condos, not so much!

The average price in the city hit a new all-time high of $968,318 – largely thanks to the surge of prices in both the detached and semi-detached house markets. Condos continued to trend down in price with an average price of $668,161 nearly unchanged from last year’s monthly average.  

As rent prices continue to decline for condos (down 15 – 20%), and supply continues to increase, buyers have ample options to choose from. With the holidays around the corner, we’ve advised many clients to hold off on plans to sell (if possible), and revisit listing in the second quarter of 2021.

Three Trends to Watch

  1. a second lockdown may be looming in the city, and with it could come a further hit to consumer confidence. Could this impact all housing styles?
  2. with rent continuing to decline, will condo prices continue to soften?
  3. What impact, if any, will this have on the pre-construction market?

DETACHED HOUSES

1,228 sales took place
67 more homes than the previous month (5.77% increase in sales)
194 more homes than the last year (18.76% increase in sales)
The average price of a detached home was $1,470,857
A decrease of $16,265 compared to the previous month (1.09% decrease in price)
An increase of $147,842 compared to last year (11.17% increase in price)

SEMI-DETACHED HOUSES

416 sales took place
5 fewer homes than the previous month (1.19% decrease in sales)
94 more than the last year (29.19% increase in sales)
The average price was $1,154,087
An increase of $8,528 compared to the previous month (.74% increase in price)
An increase of $54,285 compared to last year (4.94% increase in price)

TOWNHOUSES

409 sales took place
7 more homes than the previous month (1.74% increase in sales)
69 more homes than the previous year (20.29% increase in sales)
The average price was $828,090
A decrease of $39,915 compared to the previous month (4.60% decrease in price)
An increase of $32,975 compared to the previous year (4.15% increase in price)

CONDOS

1,438 sales took place
111 fewer condos than the previous month (7.17% decrease in sales)
137 fewer condos than the previous year (8.7% decrease in sales)
The average price was $668,161
A decrease of $18,030 compared to the previous month (2.63% decrease in price)
A decrease of $5,530 compared to the previous year (.83% decrease in price)

 

Categories
Toronto

Meet Noda Design

It’s about time the city formally meets one of its most creative and talented interior designers – Toronto based (and globally connected) Nora Voon of Noda Design! For well over a decade, she’s been building up a portfolio of homes, offices and restaurants around the world… and now, she’s opened her first brick and mortar shop here in the city!

Their flagship location is now open by appointment at: at 11 King St. East (Toronto, Ontario. M5C 3C2) 

In Noras own words:

A well-designed space should tell a story. Of great travels, of love, passion, mystery, seduction. At Noda you won’t find cold, empty, minimal Instagram spaces in our portfolio, that’s never been our style. We go for texture, for artifacts, bold rich colours, for quirk and kink. 

Let us introduce ourselves. We are Nora Voon, founder, artist, designer, a lover of traditional craftsmanship, and a dedicated traveler. As a graduate of Inchbald School of Design in London, UK, Nora studied Interior Architecture and was awarded for her work at the Preen Fashion House by Fox Linton Associates. 

 

From there Nora took to the world, to work with artisans and designers on projects in Europe, Asia, the Middle East, and North America. This time inspired Nora’s love for organic motifs mixing high design with delicate crafts. 

Nora created Noda to honour the places she loves, the people she respects, and frankly to infuse the architecture and design world with a great mischievous sense of delight. Along for the ride are Ceren Kaptan, our lead product and furniture designer with degrees from Florence, Italy, and Turkey. And to keep us all on our toes is Julia Milborne our haute marketer, strategist, and client relations with a background in marketing and real estate.

 

Yes, we’re all women team and so proud of it. #Badass We bring a female empowerment perspective to every project and piece. On our own, we led adventurous lives, and now working together we bring that same all-in energy to the spaces and objects we create. 

From the get-go, Noda’s objective has been centred around one of our favourite four-letter words: PLAY! To tease, to wink, to arouse the mundane. We do this in the interiors we reimagine and pieces we create. Snagging inspiration from our most treasured destinations. Our tag line is: Made From The World. It speaks for our worldliness brought to life through great craftsmanship.

 

Go on, go check out our portfolio

Come on in!
For many years Noda ran as a design group, but today we add bricks and mortar to our name. The Noda Flagship store is in Toronto, Canada straddling between the design and the financial district, right on 11 King Street East.

Inside is our line of Noda collection, along with unique finds curated and collected from Nora’s travels. To us, this is a living space, where we’ll soon host great talks and events. We plan to be a hub for conversation and creation.

Pop in for a visit

The great tapestry that is our planet, is our greatest muse. This is the story we bring to you. Let our journey begin.