October 2018 Market Update

By: Michael Tough Realty Group

October 2018 Market Update

Tags: OCTOBER 2018 real estate market update


I have been challenged this month in preparing our latest market update. October is Thanksgiving and hand in hand is a sense of gratitude for all the blessings we have in our lives. I have so very much to be thankful for and am always thrilled to spend the Thanksgiving weekend with family. In business, we are grateful for all our clients in allowing us the opportunity to help them achieve their personal goals through real estate.

In contradiction to that is the heartache I have for those families we are working with whose houses we are yet to sell. I wrestle with their reality daily and I am stretched in seeking how best we can get the job done for them in this shifted market. We learned a lot of painful lessons in the sudden shift of 2017; and for some the challenges of that market linger.

So, the dilemma for me is how best to balance my fiduciary obligation to be the very best (and honest) advisor while remaining optimistic in the face of the obstacles faced by some of the current home sellers in the market.
And it dawned on me. It all comes down to an attitude of gratitude. Hence my dilemma in preparing this month’s newsletter. You want real estate news; not a motivational speech.

Yes, prices are down – and in some areas, they remain considerably lower than others. The corridor between Highway 48 to the east; Highway 27 to the west; and stretching north from Highway 407 was one of the hardest hit last year. The TREB September 2018 data supports that those areas continue to see further price erosion. York Region overall is down 5.58% year over year since last September; and Simcoe County is down 0.24%. Yet all around us prices are up. Toronto + 3.98%; Peel +2.99%; Durham +2.01%. Why? I haven’t the foggiest idea. It defies all logic.

So where is the opportunity to be grateful in this update? Clearly, it has never been a better time to be a home buyer in York Region and heading into Simcoe County. Similarly, for those who have been in their homes for a while, your equity is still strong. Cause for gratitude. Prices across most of our trading area are back to mid-2016 prices. Those are still very strong numbers and still very solid equity in your Real Estate.

My daughters always roll their eyes when my ‘motivational speeches’ start. And I am sure some of you are rolling your eyes now. “All good and well for you, Michael, but you don’t know my circumstances.” And you are right.

A very wise person once said to me, “Change the way you look at things and the things you look at change.” I wrestled with this considerably last year. However, this year I choose to see things through a more positive lens. A mentor of mine taught me the following daily habit – Love Out; Gratitude In. On her way to work each day, she thinks about all the amazing people in her life and the people she will be meeting with that day; and how best she can be a positive influence in their lives. And on the way home, she expresses gratitude for all those same people and for the events of her day.

A simple little routine that allows her to have a meaningful relationship with those in her life. No matter the circumstances, love out and gratitude in.

What does all of this have to do with our Real Estate update and our Newsletter? Not much. But clearly what has been on my mind of late!  And why I have struggled with what to write in this month’s Newsletter introduction.

As always, we are here to help you with your goals. Let’s chat sometime soon about how best we can serve you.

What's My Home Worth?



Perhaps you know someone right now looking for a great home? We would sure appreciate the opportunity to help someone you care about find a great home! Here is our current list of homes on the market.

443 Hollandview Trail, Aurora
3 Bedrooms, 3 Bathrooms, 2-Storey Townhouse

155 Huron Heights Drive, Newmarket
4 + 1 Bedrooms, 3 Bathrooms, 
2 1/2 Storey Detached 

207-900 Bogart Mill Trail, Newmarket
2 Bedrooms, 2 Bathrooms, Condo Apartment

50 Mill Street, Aurora
4 Bedrooms, 2 Bathrooms,
2-Storey Detached 

72 Francis Street West, Kawartha Lakes 
Apartments 6-12 Units, Investment 



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