Experience Luxury Living in Scarborough: Welcome to 105 Dowswell Drive

Your journey in the quest for the perfect home, navigating through a myriad of options, can often be a thrilling experience. It demands diligence, an eye for detail, and a readiness to embrace potential. Every so often, a unique gem surfaces that not just fulfills your checklist, but surpasses it, offering more than just a house - a home. We're thrilled to introduce you to 105 Dowswell Drive, a standout property located in the vibrant heart of Scarborough, Ontario.

Unlock a World of Opportunities

This elegantly renovated home is a unique opportunity for first-time homebuyers and experienced investors alike. Whether you're looking to establish roots or add a valuable asset to your real estate portfolio, 105 Dowswell Drive meets all your needs.

The house presents a generous layout with four bedrooms on the main floor and an additional two bedrooms in the basement, which includes its own separate entrance. This feature provides flexibility for various living arrangements and the possibility of an income-generating suite.

With three washrooms and a comprehensive renovation that includes new appliances, this property extends beyond just a dwelling place; it's a sanctuary where you can truly feel at home.

Embrace the Outdoors

Situated on a rare 50 x 150 lot, this property offers an expansive backyard complete with a covered patio - an ideal setting for family gatherings, summer BBQs, or tranquil evenings under the stars. A detached garage adds extra storage space or could serve as a workshop for your hobbies.

Prime Location for Ultimate Convenience

Just minutes away from the University of Toronto’s Scarborough campus, Centennial College, Scarborough Town Centre, and a local shopping plaza, the home's location provides easy access to educational institutions, shopping, and everyday amenities. With a Walmart Supercenter and a medical center & pharmacy in close proximity, your daily necessities are conveniently within reach.

You're never far from entertainment with a local Cineplex, Toronto Zoo, and the Rouge Park recreation area and trails nearby. The property's location is also future proofed with the upcoming McCowan Subway and Light Rail, ensuring enhanced connectivity. For families, Burrows Hall Public School, Burrows Hall Library, and Community Center are just a short walk away.

A Solid Investment

Within the dynamic real estate market of the Greater Toronto Area (GTA), 105 Dowswell Drive stands out as a promising investment. With its unique lot size and extensive renovations, this property offers a rare value proposition in Scarborough, an area recognized for its steady capital appreciation.

In Conclusion

At 105 Dowswell Drive, you're not just acquiring a property; you're investing in a lifestyle. You're becoming part of a community rich with exceptional amenities and a home that can be customized to your dreams.

In real estate, timing is key. Now could be the perfect moment to consider this outstanding property as your new home or investment. Don't miss out on this opportunity - schedule a viewing today!

To learn more about this property, check out the

 virtual tour

 get a more detailed view on our website:

and the YouTube walkthrough: https://www.youtube.com/watch?v=DjtdyTpLhB8  

Prepared by.

Sami Chowdhury

Toronto East Real Estate Thrives in May 2023: A Comprehensive Market Overview

In the Toronto East Region, the real estate landscape for May 2023 was buzzing with high activity and robust demand. The dynamic nature of the market is depicted by a range of housing types - from detached and semi-detached homes to condos, townhouses, and co-ops. Here's a snapshot of how each fared in May 2023 and on a year-to-date basis.

In May 2023, a total of 757 home transactions took place, representing a staggering dollar volume of approximately $838.36 million. On average, homes were selling for $1,107,477, with a median price slightly lower at $1,090,000. With 1,244 fresh listings coming to the market and 832 active listings, buyers had an ample array of choices. Properties were generally sold 11% above the listing price and stayed on the market for an average of 12 days.

When we delve into the specifics’, detached homes were in high demand with 330 transactions totaling about $460.3 million. The average price for these homes stood at a sturdy $1,394,863, and properties were typically on the market for 10 days.

As we look at the 2023 year-to-date figures, the real estate vigor remains unwavering. There were 2,644 property transactions with a hefty dollar volume of around $2.75 billion. The average property price was $1,040,968, and homes typically stayed on the market for 15 days.

Detached homes, which seem to be the favorite, recorded 1,120 transactions, constituting a dollar volume of roughly $1.51 billion. These homes were sold for an average price of $1,348,315, and on average, it took 12 days for these properties to change hands.

The May 2023 snapshot of the Toronto East Region real estate market portrays a healthy and active market, favoring sellers, with most properties selling above the listing price. The quick turnover rate reaffirms the strong demand for homes in the region. However, it's worth noting that there were no transactions for detached condos and co-ownership apartments in May. Moreover, co-op apartments and detached condos tended to sell slightly below the listing price, indicating a softer demand for these property types.

Stay tuned for more updates and insights into the Toronto East Region's real estate market, where opportunities abound for both buyers and sellers!

Data Source: TRREB Market Watch, Click Here to see the full Report

Bank of Canada’s (BoC) latest interest rate hike and the Impact on the Real Estate Market This Spring/Summer

The Bank of Canada (BoC) has recently implemented its second rate increase of the year, taking the overnight rate up by 0.25% to a total of 4.75%. This move has been largely influenced by the persistently high inflation rate. This announcement is particularly noteworthy for those with variable-rate mortgages and individuals looking to secure a mortgage, as it directly affects them.

BoC had previously committed to maintaining rates as long as inflation showed a favorable trend. However, the recent economic developments didn't align with this projection. Surprisingly, both consumer spending and inflation in April, along with the Q1 economic growth, outpaced expectations.

This spring has witnessed an influx of potential buyers who were previously holding off. This surge in demand, however, has not been met with an equal increase in inventory across many major markets. For instance, the Toronto Regional Real Estate Board reported a total of 15,194 new home listings in the previous month, which, while being 3,830 more than April 2023, didn't suffice to uphold the months of supply. As a result, the region's months of supply have decreased to 2.2 months, down from 2.3 in both March and April 2023.

Check out a more detailed analysis of the Greater Toronto Area Real Estate Market in May 2023 here. Additionally, you can also view the full TRREB Market Watch Report here.

The Greater Toronto Area Real Estate Market: A Closer Look at May 2023

May 2023 brought encouraging news to real estate enthusiasts in the Greater Toronto Area (GTA) as the housing market experienced a significant improvement. Home sales shot up by 24.7% compared to May 2022, signaling robust demand for ownership housing in the region. However, this high demand was not met with an equally high supply, with new listings witnessing a decrease of 18.7% over the same period.

This mismatch between the growing demand and shrinking supply triggered a competitive environment among homebuyers. As a result, the average selling price was pushed to nearly $1.2 million, reflecting the fervent demand in the market.

On a month-over-month basis, May 2023 observed an uptick of 5.2% in home sales compared to April 2023. Meanwhile, the MLS Home Price Index (HPI) composite benchmark decreased by 6.9% year-over-year but presented an encouraging 3.2% hike on a seasonally adjusted monthly basis.

It's worth noting that while the average selling price saw a modest decrease of 1.2% from May 2022 to May 2023, the seasonally adjusted comparison revealed a rise of 3.5% in the average selling price compared to April 2023. Furthermore, the number of active listings saw a year-over-year decrease of 23.1%.

Let's delve a bit deeper into the nuances of the report:

Total Sales:

May 2023 witnessed a surge in the total number of home sales, going up by 24.7% to 9,012 sales compared to 7,226 in May 2022. Detached homes led the pack with the most sales (4,049), followed by condo apartments (2,568), townhouses (1,524), and semi-detached homes (787).

Year-Over-Year Sales Change: The change in sales from the previous year varied by property type. Condo apartments stole the show with the highest growth rate in both 416 and 905 areas, recording an overall YoY growth of 39.3%. Detached homes followed suit with a healthy growth rate of 21.8%, with townhouses not too far behind at 22.5%. Semi-detached homes, however, experienced mixed fortunes, with a decline in the 416 area (-8.9%) and an increase in the 905 area (15.7%), leading to a modest overall growth of 5.4%.

Average Price: The average price across all homes for May 2023 stood at $1,196,101, a slight decrease of 1.2% compared to May 2022. Detached homes commanded the highest average price ($1,556,566), trailed by semi-detached homes ($1,198,185), townhouses ($1,003,152), and condo apartments ($748,483).

Year-Over-Year Price Change: The changes in prices YoY also varied by property type and location. In the 416 area, all types saw a decrease in average prices. However, in the 905 area, detached homes and townhouses experienced a slight increase in average prices, while semi-detached homes and condo apartments saw a decrease.

Sales-to-New-Listings Ratio: This ratio acts as a barometer of market conditions, with a higher percentage indicating a seller's market (greater demand than supply). In May 2023, this ratio stood at 59%, marking a significant increase from 39% in May 2022, suggesting a tighter market with increased competition among buyers.

New Listings and Active Listings: The report underscores a decrease in new listings and active listings, marking a -18.7% and -23.1% change respectively. This drop indicates a tightening supply in the GTA housing market, potentially heating up competition further.

In conclusion, May 2023 painted a bright picture for the GTA housing market with increased total sales and a tightened market, despite the slight decrease in average prices. With new listings and active listings on the decline, the supply shortage appears to be an emerging concern. As we move forward, it will be interesting to see how these trends shape the market dynamics. Stay tuned for further updates.

Data Source: TRREB Market Watch, Click Here to see the full Report.