[๐—ฉ๐—ถ๐—ฑ๐—ฒ๐—ผ ๐—•๐—ฒ๐—น๐—ผ๐˜„] Week 33! 

๐—จ๐—ฟ๐—ฏ๐—ฎ๐—ป
Houses continue to perform well but if youโ€™re a seller the top of the market has come and gone in most communities. Still some big numbers on some sales that are surprising however most Sellers should manage their exceptions and be prepared to not receive as much action on offer night as weโ€™ve been seeing up until the end of September. Prices are still extremely high and stable but listing strategies may be to be adjusted to reflect the decreased activity. Condos continue to suffer almost across the board. Once borders open up they will come back. Anyone who bets against the Toronto condo market long term will lose. Many amazing buying opportunities are available right now. Some 20-30% discounts available on some product. 

๐Ÿ  ๐—›๐—ผ๐˜‚๐˜€๐—ฒ๐˜€ 

๐Ÿ“ˆHouse Average Price: $1,455,790
๐Ÿ“ˆHouse Median Price: $1,275,000
๐Ÿ“ˆ701 Active Listing
๐Ÿ“ˆ89 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: $763,857
๐Ÿ“ˆCondo Median Price: $675,000
๐Ÿ“ˆ3364 Active Listings
๐Ÿ“ˆ119 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

Huge sales this week skew the numbers a bit but provide further proof that big money is out there and buying aggressively. $9.5m sale with just 4 days on market then a $6.4m home sold in just 12 days with all other big sales selling in less than 30 days in most cases. Condos continue to move with sales increasing this week. I donโ€™t see any major swings on the horizon for these communities as new listings seem to be meeting buyer demand sufficiently and some sellers are even in the driverโ€™s seat here with a few over asking sales in both houses and condos. 

๐Ÿ“ˆHouse Average Price: $3,757,423
๐Ÿ“ˆHouse Median Price: $3,200,000 
๐Ÿ“ˆ219 Active Listings
๐Ÿ“ˆ13 Firm Sales This Week
๐Ÿ“ˆMonths of Inventory (MoI) ~ 3.6

๐Ÿ“‰Condo Average Price: $1,308,176
๐Ÿ“‰Condo Median Price: $955,000
๐Ÿ“‰353 Active Listings
๐Ÿ“‰17 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

Steady as she goes here again with no real drama to report. Listings are well supplied here but still not quite enough for all the buyer demand under $1.8m with the majority of sales under $2.5m going asking. Not a ton of โ€œdealsโ€ available here but stay tuned as that might change as we head into the winter. So many unknowns heading into a difficult season which deep into a 2nd wave of Covid. Condos are steady here with the average lowered due to some micro unit sales on Roehampton. We should see that number spike back up next week as some high priced listings set to sell this coming week. 

๐Ÿ“ˆHouse Average Price: $1,831,543
๐Ÿ“ˆHouse Median Price: $1,750,000 
๐Ÿ“ˆ74 Active Listings 
๐Ÿ“ˆ9 Firm Sales This Week 
๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.75 

๐Ÿ“‰Condo Average Price: $761,644
๐Ÿ“‰Condo Median Price: $602,000
๐Ÿ“‰256 Active Listings
๐Ÿ“‰9 Firm Sales This Week
๐Ÿ“‰MoI ~ 4.93

๐—•๐—ถ๐—ฟ๐—ฐ๐—ต ๐—–๐—น๐—ถ๐—ณ๐—ณ

Only 4 sales this week and 6 more listings added to the pile but prices remain high and buyer demand remains at an all time high as well. I expect Birchcliff to resist any downward pressure on pricing in the coming months. Sold buys here still. 

๐Ÿ“ˆHouse Average Price: $1,078,750 
๐Ÿ“ˆHouse Median Price: $1,112,500
๐Ÿ“ˆ36 Active Listings 
๐Ÿ“ˆ4 Firm Sales This Week
๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.34 

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

Week 33: Influx of House Listings Gives Buyers Some Breathing Room & Smart Investors are Buying Everything.

Week 33! ๐—จ๐—ฟ๐—ฏ๐—ฎ๐—ปHouses continue to perform well but if youโ€™re a seller the top of the market has come and gone in most communities. Still some big numbers on some sales that are surprising however most Sellers should manage their exceptions and be prepared to not receive as much action on offer night as weโ€™ve been seeing up until the end of September. Prices are still extremely high and stable but listing strategies may be to be adjusted to reflect the decreased activity. Condos continue to suffer almost across the board. Once borders open up they will come back. Anyone who bets against the Toronto condo market long term will lose. Many amazing buying opportunities are available right now. Some 20-30% discounts available on some product. ๐Ÿ  ๐—›๐—ผ๐˜‚๐˜€๐—ฒ๐˜€ ๐Ÿ“ˆHouse Average Price: $1,455,790๐Ÿ“ˆHouse Median Price: $1,275,000๐Ÿ“ˆ701 Active Listing๐Ÿ“ˆ89 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: $763,857๐Ÿ“ˆCondo Median Price: $675,000๐Ÿ“ˆ3364 Active Listings๐Ÿ“ˆ119 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—ธHuge sales this week skew the numbers a bit but provide further proof that big money is out there and buying aggressively. $9.5m sale with just 4 days on market then a $6.4m home sold in just 12 days with all other big sales selling in less than 30 days in most cases. Condos continue to move with sales increasing this week. I donโ€™t see any major swings on the horizon for these communities as new listings seem to be meeting buyer demand sufficiently and some sellers are even in the driverโ€™s seat here with a few over asking sales in both houses and condos. ๐Ÿ“ˆHouse Average Price: $3,757,423๐Ÿ“ˆHouse Median Price: $3,200,000 ๐Ÿ“ˆ219 Active Listings๐Ÿ“ˆ13 Firm Sales This Week๐Ÿ“ˆMonths of Inventory (MoI) ~ 3.6๐Ÿ“‰Condo Average Price: $1,308,176๐Ÿ“‰Condo Median Price: $955,000๐Ÿ“‰353 Active Listings๐Ÿ“‰17 Firm Sales This Week๐Ÿ“‰MoI ~ 7.12๐—Ÿ๐—ฒ๐—ฎ๐˜€๐—ถ๐—ฑ๐—ฒ & ๐——๐—ฎ๐˜ƒ๐—ถ๐˜€๐˜ƒ๐—ถ๐—น๐—น๐—ฒSteady as she goes here again with no real drama to report. Listings are well supplied here but still not quite enough for all the buyer demand under $1.8m with the majority of sales under $2.5m going asking. Not a ton of โ€œdealsโ€ available here but stay tuned as that might change as we head into the winter. So many unknowns heading into a difficult season which deep into a 2nd wave of Covid. Condos are steady here with the average lowered due to some micro unit sales on Roehampton. We should see that number spike back up next week as some high priced listings set to sell this coming week. ๐Ÿ“ˆHouse Average Price: $1,831,543๐Ÿ“ˆHouse Median Price: $1,750,000 ๐Ÿ“ˆ74 Active Listings ๐Ÿ“ˆ9 Firm Sales This Week ๐Ÿ“ˆMonths of Inventory (MoI) ~ 1.75 ๐Ÿ“‰Condo Average Price: $761,644๐Ÿ“‰Condo Median Price: $602,000๐Ÿ“‰256 Active Listings๐Ÿ“‰9 Firm Sales This Week๐Ÿ“‰MoI ~ 4.93๐—•๐—ถ๐—ฟ๐—ฐ๐—ต ๐—–๐—น๐—ถ๐—ณ๐—ณOnly 4 sales this week and 6 more listings added to the pile but prices remain high and buyer demand remains at an all time high as well. I expect Birchcliff to resist any downward pressure on pricing in the coming months. Sold buys here still. ๐Ÿ“ˆHouse Average Price: $1,078,750 ๐Ÿ“ˆHouse Median Price: $1,112,500๐Ÿ“ˆ36 Active Listings ๐Ÿ“ˆ4 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. Ryan Wykes Ara Mamourian Mila Sheina

Posted by The Spring Team Real Estate on Thursday, October 22, 2020

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