*This is an update for Toronto as a whole and things can look very different between different areas and home types. If you would like to dig deeper into the numbers that matter more to you, please book a call with me here.
Key Takeaways:
Prices are up YoY and down MoM.
Sales are up YoY and down MoM.
New Listings are up YoY and down MoM.
The Bank of Canada reduced their rate another .5%.
There is a ton of anticipation for the new year as interest rates are finally more affordable and the government has implemented new policies that came into effect December 15th to improve affordability for homes under $1.5M.
We are still dealing with two very different markets between Freehold and Condos as Freehold is still moving while Condos remaining more stagnant.
Looking at numbers after the first week of September, Toronto Freehold homes are in a Balance Market at 2.7 Months Of Inventory and Toronto Condos are up in a Buyers Market at 4.5 Months Of Inventory.
Data below.
