*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 down.

• Sales are down. 

• New Listings were down. 

• Days on market are up. 

• September should see an increase in activity for both buyers and sellers.

• New listings are already way up week over week since labour day weekend. 

• The Bank Of Canada cut their overnight rate again and it looks like they are likely to cut at each announcement for the remainder of the year (October 23rd and December 11th are the next two rate announcements)

• Looking at numbers after the first week of September, Toronto Freehold homes are in a Balance Market at 4.1 Months Of Inventory and Toronto Condos are up in a Buyers Market at 6.3 Months Of Inventory.

Data below. 

*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 down.

• Sales are down. 

• New Listings are down. 

• Days on market are up. 

• August is usually the slowest month of the year so expect this trend to continue. 

• The next Bank Of Canada Rate announcement is September 4th. 

• Looking at numbers after the first week of July, Toronto Freehold homes are in a Balance Market at 3.6 Months Of Inventory and Toronto Condos are up in a Buyers Market at 6.4 Months Of Inventory.

Data below. 

*This 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 have come down a little bit. 

• There are lots of options for buyers right now. 

• If things continue moving as they are now, prices will come down more. 

• The Bank of Canada interest rate announcement has had no effect on the market so far.

• The summer is a slow time for real estate and I expect things to be slow until at least September.

• Looking at numbers after the first week of July, Toronto Freehold homes are now up in a Balance Market at 3.2 Months Of Inventory and Toronto Condos are up in a Buyers Market at 5.6 Months Of Inventory.

Data below. 

Key Takeaways: 

• The amount of homes available for sale continued to go up. 

• Prices remained relatively flat.

• Simply put, Detached and Semi-Detached freehold homes are in a sellers market and condos are leaning into a buyers market. 

• Sales activity was very slow as many buyers were “waiting to see whats going to happen with interest rates”

• The Bank Of Canada lowered interest rates .25% which will save variable rate holders about $10-15 less per $100,000 of their mortgage. (June will be a good test to see how people actually react to this)

• Running numbers after the first week of June, Toronto Freehold homes are up at 2.5 Months Of Inventory (Sellers Market) and Toronto Condos are up at 4.9 Months Of Inventory (Balanced Market).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.

Key Takeaways: 

• Average sale price in April was up 6% month over month and 3% year over year.
• Another big jump in sales activity as April saw a 12% increase in homes sold month over month but still 6% lower than this time last year. 
• Inventory is continuing to pile on with a 35% increase in new homes month over month and 52% year over year. 
• Out of all these listings, the vast majority are coming from condos. 
• Running numbers after the first week of April, Toronto Freehold homes are at 2.2 Months Of Inventory (Sellers Market) and Toronto Condos are at 3.7 Months Of Inventory (Balanced Market).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.

Key Takeaways: 

• Average sale price in March was relatively flat with a slight uptick month over month and year over year.
• Another big jump in sales activity as March saw a 17% increase in homes sold month over month but still 9% lower than this time last year. 
• Inventory is continuing to roll on to the market with a 42% increase in new homes month over month and 14% year over year. 
• This time last year saw a surge in activity with new found activity in buyers as there was false confidence that rates would be coming down and the market took off. The fact that we have 9% less sales and 14% more homes to sell tells me we are just in a healthier balance right now. 
• March saw an Easter weekend for the first time in a long time which is typically a slow few days for real estate and I imagine that was factored in to seeing a decline in number of sales year over year. I anticipate April is likely to be much more active for both buyers and sellers across the board. 
• Running numbers after the first week of April, Toronto Freehold homes are at 2 Months Of Inventory (Sellers Market) and Toronto Condos are at 3.5 Months Of Inventory (Balanced Market).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.

• Average sale price remain virtually unchanged with a 1% increase from last month and 4% increase year over year. 
• December is typically one of the slowest months of the year and with all other economic variables, we saw a 21% decrease in sales month over month. With that being said, confidence was actually up from last year with a 9% bump from December 2022.  
• Continuing with the trend of the latter portion of the year, inventory is down another wapping 64% month over month. 
• Forecasts are calling for rates to start to drop in 2024 with Fixed rates already gradually starting to come down. 
• I expect the next month or two to be relatively stable with a healthy market that neither falls not flies however when rates start to fall, buyer activity is likely to pick up signifcantly. 
• Running numbers after the first week of January, Toronto Freehold homes are sitting at 2.9 Months Of Inventory (Sellers Market) and Toronto Condos are sitting at 5.1 Months Of Inventory (Balanced Market).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.

• Average sale price is starting to trend downward month over month although still flat compared to where we were last year.
• Last month's hike in home sales was more of a moment as sales are down month over month 13% and 11% year over year. 
• Key metric here is inventory which is continuing to have a steady decline in new homes coming to market month over month.
• The Bank of Canada held rates again signaling that their efforts of slowing down the economy are working and experts are anticipating rates to actually start coming down by Q2/3 2024. 
• Expect the market to continue cooling in the coming couple months as the holidays are typically one of the slowest times of the year and most buyers and sellers are now looking at seeing what the new year brings.  
• As of the end of November, Toronto Freeholds are sitting at 3.3 Months Of Inventory (Balanced Market) and Toronto Condos are sitting at 5.5 Months Of Inventory (Creeping into Buyer's Market territory).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.

• Average sale price was up month over month 1% and year over year 3%.
• New home sales are starting to pick up signalling a potential rise in buyer confidence. 
• New listings are down month over month which shows sellers are still holding on.
• With the Bank of Canada holding rates again this month and other economic data showing signs that we may be at the peak of those announcements, I still anticipate to see further signs of seller/buyer pain in the market but am hopeful sale values will continue to either hold strong or worst case, dip only slightly over the next few months. 
• As of the end of October, Toronto Freeholds are sitting at 3.3 Months Of Inventory (Balanced Market) and Toronto Condos are sitting at 5.4 Months Of Inventory (Creeping into Buyer's Market territory).

All data below. What do you think? 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.