[๐—ฉ๐—ถ๐—ฑ๐—ฒ๐—ผ ๐—•๐—ฒ๐—น๐—ผ๐˜„]
๐—จ๐—ฟ๐—ฏ๐—ฎ๐—ป
Torontoโ€™s Urban Communities were consistent week over week with a drop in active listings by 3%. Despite a drop of nearly 30% in firm sales this past week we still managed to eat into the listing inventory from last week. Whatโ€™s good to see is the Months of Inventory (MoI) creep up a bit closer to 2 months for houses but no surprise to see Condos MoI inch closer to that dreaded 6mth figure. There are some interesting and surprise opportunities in the market though as Buyers seem to be showing some fatigue on offer night. A few properties surprised us by not seeing on offer on offer night, only to be scooped up by my clients at a serious discount. Thatโ€™s not the norm and anyone calling me shouldnโ€™t expect the same result but if itโ€™s going to happen..nowโ€™s the time.  Again, if you donโ€™t need to sell your condo now, HOLD IT.

๐Ÿ  ๐—›๐—ผ๐˜‚๐˜€๐—ฒ๐˜€ 
๐Ÿ“ˆHouse Average Price: $1,509,325
๐Ÿ“ˆHouse Median Price: $1,386,000
๐Ÿ“ˆ655 Active Listing
๐Ÿ“ˆ94 Firm Sales This Week
๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.85
๐Ÿ“ˆAverage Days on Market ~7 DoM

๐Ÿข๐—–๐—ผ๐—ป๐—ฑ๐—ผ๐˜€ 
๐Ÿ“ˆCondo Average Price: $808,513
๐Ÿ“ˆCondo Median Price: $705,000
๐Ÿ“ˆ3202 Active Listings
๐Ÿ“ˆ124 Firm Sales This Week
๐Ÿ“ˆMoI ~ 5.23
๐Ÿ“ˆAverage Days on Market (DOM) ~ 40

๐—จ๐—ฟ๐—ฏ๐—ฎ๐—ป ๐—ก๐—ผ๐—ฟ๐˜๐—ต: ๐—ฅ๐—ผ๐˜€๐—ฒ๐—ฑ๐—ฎ๐—น๐—ฒ, ๐——๐—ฒ๐—ฒ๐—ฟ ๐—ฃ๐—ฎ๐—ฟ๐—ธ, ๐— ๐—ผ๐—ผ๐—ฟ๐—ฒ ๐—ฃ๐—ฎ๐—ฟ๐—ธ, ๐—™๐—ผ๐—ฟ๐—ฒ๐˜€๐˜ ๐—›๐—ถ๐—น๐—น, & ๐—Ÿ๐—ฎ๐˜„๐—ฟ๐—ฒ๐—ป๐—ฐ๐—ฒ ๐—ฃ๐—ฎ๐—ฟ๐—ธ
Houses here are doing their usual YoYo as e had a few sales in the lower (sum Million) price points with not much activity over $2.5m. Not to say the demand isnโ€™t there for he more expensive options.

We should see this jump back up next week as a few larger sales are reported. Overall house pricing here remains stable with a steady flow of Buyers to scoop up available listings. Active listings are down here as well and sales are up but big picture, the MoI here is jumped significantly to 3.6 months.

Iโ€™ll continue to monitor to see how (if at all) this extra inventory is affecting the on-the-ground pricing. Condos on the other hand just hit 7.12 MoI (iโ€™ve never seen anything higher than 6.7 anywhere) so thatโ€™s concerning. A massive buyerโ€™s opportunity here especially helpful to folks downsizing from their local houses to larger local condos. 

๐Ÿ“ˆHouse Average Price: $2,305,434
๐Ÿ“ˆHouse Median Price: $2,020,440 
๐Ÿ“ˆ229 Active Listings
๐Ÿ“ˆ24 Firm Sales This Week
๐Ÿ“ˆMonths of Inventory (MoI) ~ 3.6

๐Ÿ“‰Condo Average Price: $1,352,556
๐Ÿ“‰Condo Median Price: $1,299,000
๐Ÿ“‰351 Active Listings
๐Ÿ“‰9 Firm Sales This Week
๐Ÿ“‰MoI ~ 7.12

๐—Ÿ๐—ฒ๐—ฎ๐˜€๐—ถ๐—ฑ๐—ฒ & ๐——๐—ฎ๐˜ƒ๐—ถ๐˜€๐˜ƒ๐—ถ๐—น๐—น๐—ฒ
Leaside and Davisville aka Steady Eddyโ€ฆconsistently low inventory with consistent buyer demand here. Houses are doing well with no real dramatic changes to report.

Sellers are mostly in the driverโ€™s seat with some opportunity in the $3M++ category but overall quite robust. Condos are feeling the pain now too with a bump to the MoI of nearly 5 now.

The condo market here is relatively balanced but with properties taking a long time to sell, some Sellers are feeling the pressure. Buyers are finding themselves with a little more negotiating room here. 

๐Ÿ“ˆHouse Average Price: $1,758,462
๐Ÿ“ˆHouse Median Price: $1,600,000 
๐Ÿ“ˆ61 Active Listings 
๐Ÿ“ˆ13 Firm Sales This Week 
๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.75 

๐Ÿ“‰Condo Average Price: $665,600
๐Ÿ“‰Condo Median Price: $675,000
๐Ÿ“‰244 Active Listings
๐Ÿ“‰11 Firm Sales This Week
๐Ÿ“‰MoI ~ 4.93

๐—•๐—ถ๐—ฟ๐—ฐ๐—ต ๐—–๐—น๐—ถ๐—ณ๐—ณ
Birch Cliff (or is it Birchcliff??) continues to move forward extremely well for Sellers. Buyers are flocking to this area they once deemed โ€œtoo far eastโ€ now that being as close to work isnโ€™t essential.

This newfound attention has spiked prices and will continue to do so as developers start to put their new builds on the market. Weโ€™ll see a steady stream of $2m++ home hit the market here that were once reserved for the coveted South of Kingston Rd crowd.

Condos have more pre-con inventory than resale so will comment on that in the video but if youโ€™re in a buying mood right now (and you should be) then pre-con in Birchcliff might be a solid option for you.

๐Ÿ“ˆHouse Average Price: $1,048,933 
๐Ÿ“ˆHouse Median Price: $1,000,750
๐Ÿ“ˆ30 Active Listings 
๐Ÿ“ˆ6 Firm Sales This Week
๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.34 

Thank your attention! As always, please comment below, DM, or call/text 416-434-1511 if any questions.

Week 31: Months of Inventory goes through the roof for Downtown Toronto & Uptown Condos.

[๐—ฉ๐—ถ๐—ฑ๐—ฒ๐—ผ ๐—•๐—ฒ๐—น๐—ผ๐˜„] Week 31! You can access this as well as the weekly tracker on the Spring Team site here –> https://thespringteam.ca/week-31-months-of-inventory-goes-through-the-roof-for-downtown-toronto-uptown-condos/๐—จ๐—ฟ๐—ฏ๐—ฎ๐—ปTorontoโ€™s Urban Communities were consistent week over week with a drop in active listings by 3%. Despite a drop of nearly 30% in firm sales this past week we still managed to eat into the listing inventory from last week. Whatโ€™s good to see is the Months of Inventory (MoI) creep up a bit closer to 2 months for houses but no surprise to see Condos MoI inch closer to that dreaded 6mth figure. There are some interesting and surprise opportunities in the market though as Buyers seem to be showing some fatigue on offer night. A few properties surprised us by not seeing on offer on offer night, only to be scooped up by my clients at a serious discount. Thatโ€™s not the norm and anyone calling me shouldnโ€™t expect the same result but if itโ€™s going to happen..nowโ€™s the time. Again, if you donโ€™t need to sell your condo now, HOLD IT.๐Ÿ  ๐—›๐—ผ๐˜‚๐˜€๐—ฒ๐˜€ ๐Ÿ“ˆHouse Average Price: $1,509,325๐Ÿ“ˆHouse Median Price: $1,386,000๐Ÿ“ˆ655 Active Listing๐Ÿ“ˆ94 Firm Sales This Week๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.85๐Ÿ“ˆAverage Days on Market ~7 DoM๐Ÿข๐—–๐—ผ๐—ป๐—ฑ๐—ผ๐˜€ ๐Ÿ“ˆCondo Average Price: $808,513๐Ÿ“ˆCondo Median Price: $705,000๐Ÿ“ˆ3202 Active Listings๐Ÿ“ˆ124 Firm Sales This Week๐Ÿ“ˆMoI ~ 5.23๐Ÿ“ˆAverage Days on Market (DOM) ~ 40๐—จ๐—ฟ๐—ฏ๐—ฎ๐—ป ๐—ก๐—ผ๐—ฟ๐˜๐—ต: ๐—ฅ๐—ผ๐˜€๐—ฒ๐—ฑ๐—ฎ๐—น๐—ฒ, ๐——๐—ฒ๐—ฒ๐—ฟ ๐—ฃ๐—ฎ๐—ฟ๐—ธ, ๐— ๐—ผ๐—ผ๐—ฟ๐—ฒ ๐—ฃ๐—ฎ๐—ฟ๐—ธ, ๐—™๐—ผ๐—ฟ๐—ฒ๐˜€๐˜ ๐—›๐—ถ๐—น๐—น, & ๐—Ÿ๐—ฎ๐˜„๐—ฟ๐—ฒ๐—ป๐—ฐ๐—ฒ ๐—ฃ๐—ฎ๐—ฟ๐—ธHouses here are doing their usual YoYo as e had a few sales in the lower (sum Million) price points with not much activity over $2.5m. Not to say the demand isnโ€™t there for he more expensive options. We should see this jump back up next week as a few larger sales are reported. Overall house pricing here remains stable with a steady flow of Buyers to scoop up available listings. Active listings are down here as well and sales are up but big picture, the MoI here is jumped significantly to 3.6 months. Iโ€™ll continue to monitor to see how (if at all) this extra inventory is affecting the on-the-ground pricing. Condos on the other hand just hit 7.12 MoI (iโ€™ve never seen anything higher than 6.7 anywhere) so thatโ€™s concerning. A massive buyerโ€™s opportunity here especially helpful to folks downsizing from their local houses to larger local condos. ๐Ÿ“ˆHouse Average Price: $2,305,434๐Ÿ“ˆHouse Median Price: $2,020,440 ๐Ÿ“ˆ229 Active Listings๐Ÿ“ˆ24 Firm Sales This Week๐Ÿ“ˆMonths of Inventory (MoI) ~ 3.6๐Ÿ“‰Condo Average Price: $1,352,556๐Ÿ“‰Condo Median Price: $1,299,000๐Ÿ“‰351 Active Listings๐Ÿ“‰9 Firm Sales This Week๐Ÿ“‰MoI ~ 7.12๐—Ÿ๐—ฒ๐—ฎ๐˜€๐—ถ๐—ฑ๐—ฒ & ๐——๐—ฎ๐˜ƒ๐—ถ๐˜€๐˜ƒ๐—ถ๐—น๐—น๐—ฒLeaside and Davisville aka Steady Eddyโ€ฆconsistently low inventory with consistent buyer demand here. Houses are doing well with no real dramatic changes to report. Sellers are mostly in the driverโ€™s seat with some opportunity in the $3M++ category but overall quite robust. Condos are feeling the pain now too with a bump to the MoI of nearly 5 now. The condo market here is relatively balanced but with properties taking a long time to sell, some Sellers are feeling the pressure. Buyers are finding themselves with a little more negotiating room here. ๐Ÿ“ˆHouse Average Price: $1,758,462๐Ÿ“ˆHouse Median Price: $1,600,000 ๐Ÿ“ˆ61 Active Listings ๐Ÿ“ˆ13 Firm Sales This Week ๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.75 ๐Ÿ“‰Condo Average Price: $665,600๐Ÿ“‰Condo Median Price: $675,000๐Ÿ“‰244 Active Listings๐Ÿ“‰11 Firm Sales This Week๐Ÿ“‰MoI ~ 4.93๐—•๐—ถ๐—ฟ๐—ฐ๐—ต ๐—–๐—น๐—ถ๐—ณ๐—ณBirch Cliff (or is it Birchcliff??) continues to move forward extremely well for Sellers. Buyers are flocking to this area they once deemed โ€œtoo far eastโ€ now that being as close to work isnโ€™t essential. This newfound attention has spiked prices and will continue to do so as developers start to put their new builds on the market. Weโ€™ll see a steady stream of $2m++ home hit the market here that were once reserved for the coveted South of Kingston Rd crowd. Condos have more pre-con inventory than resale so will comment on that in the video but if youโ€™re in a buying mood right now (and you should be) then pre-con in Birchcliff might be a solid option for you.๐Ÿ“ˆHouse Average Price: $1,048,933 ๐Ÿ“ˆHouse Median Price: $1,000,750๐Ÿ“ˆ30 Active Listings ๐Ÿ“ˆ6 Firm Sales This Week๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.34 As always, please comment below, DM, or call/text 416-434-1511 if any questions. CC: Ara Mamourian Ryan WykesYou can access this as well as the weekly tracker on the Spring Team site here –> https://thespringteam.ca/week-31-months-of-inventory-goes-through-the-roof-for-downtown-toronto-uptown-condos/

Posted by The Spring Team Real Estate on Tuesday, October 6, 2020

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