Jason Balewski - The Property Consultants

Jason Balewski - The Property Consultants

Broker | Team Leader

RE/MAX Realty Specialists Inc., Brokerage *

Mobile:
416-786-0224
Office:
905-272-3434
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Jason Balewski Consultants's blog

Luxury Report January 2025

"These patterns reflect a market in transition, where buyer enthusiasm remains strong, but sellers are adjusting their strategies to align with seasonal shifts and evolving buyer preferences."

Click on the link below to access the report!

Mississauga Luxury Market Report Jan 2025

Quick Takes from this month's report

  • The single-family luxury market is a Buyer's Market with a 7% Sales Ratio.
  • Homes sold for a median of 91.84% of list price in December 2024.
  • The most active price band is $4,500,000-$5,099,999, where the sales ratio is 33%.
  • The median luxury sales price for single-family homes is $2,750,000.
  • The median days on market for December 2024 was 74 days, up from 52 in December 2023.
  • The attached luxury market is a Balanced Market with a 20% Sales Ratio.
  • Homes sold for a median of 97.95% of list price in December 2024.
  • The most active price band is...

The new Anti-Flipping Rule

2023 Has come with a slew of changes to Canada's real estate laws and tax implications.  The new Anti Flipping Rule applies if you make a profit on a property owning it less than 365 days.  This profit is deemed to be 100% income, not capital gains, and taxable at your marginal tax rate, which can be as high as 53.3% or if you have a active corporation 12.2%

Toronto Vacant Home Tax

Starting in 2023, residential properties unoccupied for more than six months in a calendar year may face the Vacant Home Tax. This new policy applies to homeowners in Toronto.

Non-Resident Foreign Buyers Ban Now in Effect

As of Sunday, January 1, 2023, the federal government has implemented a two-year ban for non-resident buyers.

What is the Prohibition on the Purchase of Residential Property by Non-Canadians Act?

Important Update for Condo Owners

How to save for a down payment

by Corben Grant on 09 Nov 2021 originally posted to https://www.canadianrealestatemagazine.ca/

 

New mortgage stress test rules take effect June 1 2021

How to save the 15% Foreign Buyers tax with exemptions or rebates in Ontario

In April 2017, the Government of Ontario introduced the Non-Resident Speculation Tax (NRST), which is applied to foreign and non-resident property buyers as a measure to control the real estate market in the Greater Toronto Area.

Last Month's Rent Interest versus "Top-up"

 

This is a great article written by fellow Landlord, Investor and Broker, Chris Seepe

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416-786-0224
Office:
905-272-3434
200-4310 Sherwoodtowne Blvd, Mississauga, Ontario, L4Z 4C4

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