Don’t get too comfortable out there, folks.
Shame on all of you who attended events, parks etc…whilst completely ignoring all physical distancing guidelines. For urinating on people houses, and for leaving a giant mess for the City staff to clean up. You’re disgusting. Ok, rant over…let’s get into it.
[๐ฉ๐ถ๐ฑ๐ฒ๐ผ ๐๐ฒ๐น๐ผ๐] Happy Monday, everyone! Week 12 now in the books! Make sure you check out the video. I may or may not take a shot at the West End and have a quick rant at the end about the future of Downtown and offices.
๐ ๐๐ผ๐๐๐ฒ๐ fell a bit flat in terms of volume this week only reporting 28 firm sales. Buyer confidence is still strong with 15 of the 28 fetching over the asking price with multiple offers. There were zero sales over $2M reported this week but that doesn’t seem to be due to any new problems in that price range. There was a unusually high amount of activity there over the past couple of weeks so perhaps a lull this week. I’ll keep on it and see if any changes next week.
๐House Average Price: $1,287,335
๐House Median Price: $1,295,000
๐319 Active Listings
๐MOI ~ 1.98 months (mostly Seller’s market)
๐ก๐ผ๐๐ถ๐ฐ๐ฒ ๐ต๐ผ๐ ๐ฎ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐ต๐ฎ๐ ๐ฎ ๐บ๐๐ฐ๐ต ๐ด๐ฟ๐ฒ๐ฎ๐๐ฒ๐ฟ ๐๐๐ถ๐ป๐ด ๐๐ต๐ฎ๐ป ๐บ๐ฒ๐ฑ๐ถ๐ฎ๐ป? ๐๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ ๐ฎ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ฎ๐ $๐ญ.๐ฐ๐ ๐ป๐ผ๐ $๐ญ.๐ฎ๐ด๐ณ. ๐ฆ๐ผ ๐ถ๐ณ ๐ ๐๐ผ๐น๐ฑ ๐๐ผ๐ “๐ฎ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ต๐ผ๐๐๐ฒ๐ ๐ถ๐ป ๐๐ฟ๐ฏ๐ฎ๐ป ๐ง๐ผ๐ฟ๐ผ๐ป๐๐ผ ๐ฑ๐ฟ๐ผ๐ฝ๐ฝ๐ฒ๐ฑ ๐ด% ๐๐ฒ๐ฒ๐ธ ๐ผ๐๐ฒ๐ฟ ๐๐ฒ๐ฒ๐ธ” ๐๐ผ๐’๐ฑ ๐ฝ๐ฟ๐ผ๐ฏ๐ฎ๐ฏ๐น๐ ๐ฏ๐ฒ ๐ผ๐๐ ๐๐ต๐ฒ๐ฟ๐ฒ ๐ฒ๐ ๐ฝ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฎ ๐ฑ๐ฒ๐ฎ๐น…๐ฟ๐ถ๐ด๐ต๐? ๐ก๐ผ๐ ๐ฑ๐ผ ๐๐ผ๐ ๐๐ฒ๐ฒ ๐๐ต๐ฎ๐ ๐ถ๐’๐ ๐ถ๐บ๐ฝ๐ผ๐ฟ๐๐ฎ๐ป๐ ๐๐ผ ๐ฝ๐ฎ๐ ๐ฎ๐๐๐ฒ๐ป๐๐ถ๐ผ๐ป ๐๐ผ ๐ต๐๐ฝ๐ฒ๐ฟ ๐น๐ผ๐ฐ๐ฎ๐น ๐ ๐ฒ๐ฑ๐ถ๐ฎ๐ป ๐ฑ๐ฎ๐๐ฎ? ๐๐ผ๐ฝ๐ฒ ๐๐ผ!
Last week’s theme was “the buyer party is over” and that theme continues to be true. Most discounts are gone (only a few existed but that was late March/early April). If you’re buying a house in our urban communities you’re most likely going to be competing with other buyers unless you’re in the $1.4++ price point where you have a little less competition.
๐ข๐๐ผ๐ป๐ฑ๐ผ๐ once again show strong and consistent sales with 45 firm deals, 8 over the ask with multiple bids. Again, the “over asking” deals were all under $800K. Most opportunities exist in the $800K++ price point especially for larger, more expensive one bedrooms (๐ต๐ฉ๐ช๐ฏ๐ฌ ๐ข๐ฎ๐ข๐ป๐ช๐ฏ๐จ ๐ฃ๐ข๐ค๐ฉ๐ฆ๐ญ๐ฐ๐ณ ๐ฐ๐ณ ๐ฃ๐ข๐ค๐ฉ๐ฆ๐ญ๐ฐ๐ณ๐ฆ๐ต๐ต๐ฆ ๐ฑ๐ข๐ฅ!)
๐Condo Average Price: $828,543
๐Condo Median Price: $755,000
๐1159 Active Listings
๐MOI ~ 4.6 months of inventory (๐ง๐ข๐ช๐ณ๐ญ๐บ ๐ฃ๐ข๐ญ๐ข๐ฏ๐ค๐ฆ ๐ฎ๐ข๐ณ๐ฌ๐ฆ๐ต ๐ธ๐ช๐ต๐ฉ ๐๐ฆ๐ญ๐ญ๐ฆ๐ณ ๐ช๐ฏ ๐ฅ๐ณ๐ช๐ท๐ฆ๐ณ’๐ด ๐ด๐ฆ๐ข๐ต ๐ง๐ฐ๐ณ ๐ญ๐ฐ๐ธ๐ฆ๐ณ ๐ฑ๐ณ๐ช๐ค๐ฆ๐ฅ ๐ช๐ฏ๐ท๐ฆ๐ฏ๐ต๐ฐ๐ณ๐บ)
๐๐ผ๐๐๐ฒ๐ ๐ฎ๐ป๐ฑ ๐๐ผ๐ป๐ฑ๐ผ๐ ๐ฎ๐ฟ๐ฒ ๐ฏ๐ผ๐๐ต ๐๐ฒ๐น๐น๐ถ๐ป๐ด ๐ฎ๐ ๐๐๐ฟ๐ผ๐ป๐ด ๐ฎ๐ ๐ฐ๐ฎ๐ป ๐ฏ๐ฒ ๐ฒ๐ ๐ฝ๐ฒ๐ฐ๐๐ฒ๐ฑ ๐ถ๐ป ๐ฎ ๐๐ถ๐บ๐ฒ ๐ผ๐ณ ๐๐๐ฐ๐ต ๐ฒ๐ฐ๐ผ๐ป๐ผ๐บ๐ถ๐ฐ ๐๐ป๐ฐ๐ฒ๐ฟ๐๐ฎ๐ถ๐ป๐๐ ๐๐ต๐ผ๐๐ถ๐ป๐ด ๐๐ต๐ฎ๐ ๐จ๐ฟ๐ฏ๐ฎ๐ป ๐ง๐ผ๐ฟ๐ผ๐ป๐๐ผ๐ป๐ถ๐ฎ๐ป๐ ๐ฎ๐ป๐ฑ ๐๐ต๐ผ๐๐ฒ ๐๐ต๐ฎ๐ ๐๐ฎ๐ป๐ ๐๐ผ ๐ฏ๐ฒ๐ฐ๐ผ๐บ๐ฒ ๐จ๐ฟ๐ฏ๐ฎ๐ป ๐ง๐ผ๐ฟ๐ผ๐ป๐๐ผ๐ป๐ถ๐ฎ๐ป๐ ๐ฎ๐ฟ๐ฒ ๐ฒ๐ ๐๐ฟ๐ฒ๐บ๐ฒ๐น๐ ๐ฐ๐ผ๐ป๐ณ๐ถ๐ฑ๐ฒ๐ป๐ ๐ถ๐ป ๐๐ต๐ฒ ๐๐๐๐๐ฟ๐ฒ ๐ผ๐ณ ๐ผ๐๐ฟ ๐ฎ๐บ๐ฎ๐๐ถ๐ป๐ด ๐๐ถ๐๐ (๐ข๐ฏ๐ฅ ๐ฃ๐บ “๐ฐ๐ถ๐ณ” ๐ ๐ฎ๐ฆ๐ข๐ฏ ๐ข๐ญ๐ญ ๐ฉ๐ถ๐ฎ๐ข๐ฏ๐ช๐ต๐บ, ๐ฃ๐ถ๐ต ๐ธ๐ฆ’๐ญ๐ญ ๐จ๐ฆ๐ต ๐ช๐ฏ๐ต๐ฐ ๐ฉ๐ฐ๐ธ ๐ ๐ง๐ฆ๐ฆ๐ญ ๐ข๐ฃ๐ฐ๐ถ๐ต ๐ต๐ฉ๐ฆ ๐ช๐ฅ๐ฆ๐ข ๐ฐ๐ง ๐ค๐ญ๐ข๐ช๐ฎ๐ช๐ฏ๐จ ๐ฐ๐ธ๐ฏ๐ฆ๐ณ๐ด๐ฉ๐ช๐ฑ ๐ฐ๐ง ๐ค๐ช๐ต๐ช๐ฆ๐ด, ๐ค๐ฐ๐ฎ๐ฎ๐ถ๐ฏ๐ช๐ต๐ช๐ฆ๐ด, ๐ด๐ต๐ณ๐ฆ๐ฆ๐ต๐ด ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ข๐ต ๐ฃ๐ฆ๐ช๐ฏ๐จ ๐ต๐ฉ๐ฆ ๐ณ๐ฐ๐ฐ๐ต ๐ฐ๐ง ๐ฎ๐ฐ๐ด๐ต ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ธ๐ฐ๐ณ๐ญ๐ฅ๐ด ๐ฑ๐ณ๐ฐ๐ฃ๐ญ๐ฆ๐ฎ๐ด ๐ช๐ฏ ๐ข๐ฏ๐ฐ๐ต๐ฉ๐ฆ๐ณ ๐ฑ๐ฐ๐ด๐ต).
Watch more in the video below and check out some yet-to-be released reporting from CIBC’s Chief Economist Benjamin Tal talking about the Canadian Real Estate market as a whole. Remember, take it with a grain of salt as what’s happening Nationally won’t always reflect what’s happening in the communities you’re interested in.
As always, please comment below, DM, or call/text 416-434-1511 if any questions. cc: The Spring Team at Property.ca
