[𝗩𝗶𝗱𝗲𝗼 𝗕𝗲𝗹𝗼𝘄] Week 34!
Houses continue to do well but not as well as at the end of August or early to mid Sept. Prices remain high but many urban communities have a lot more for buyers to choose from so a little bit more breathing room there. Sales increased and the number of new listings dropped so we can expect to close the end of the year out pretty strong for houses. Condos came in strong this week with 140 sales…haven’t seen a number that high since Week 24 and before that weekly sales were in the 170’s. Sales are up and new listings are flat but prices continue to fall here. Some more room to drop till the end of the year..
📈House Average Price: $1,390,538
📈House Median Price: $1,225,000
📈680 Active Listing
📈111 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.85
📈Average Days on Market ~7 DoM
📈Condo Average Price: $763,857
📈Condo Median Price: $650,000
📈3358 Active Listings
📈141 Firm Sales This Week
📈MoI ~ 5.23
📈Average Days on Market (DOM) ~ 22.57
𝗨𝗿𝗯𝗮𝗻 𝗡𝗼𝗿𝘁𝗵: 𝗥𝗼𝘀𝗲𝗱𝗮𝗹𝗲, 𝗗𝗲𝗲𝗿 𝗣𝗮𝗿𝗸, 𝗠𝗼𝗼𝗿𝗲 𝗣𝗮𝗿𝗸, 𝗙𝗼𝗿𝗲𝘀𝘁 𝗛𝗶𝗹𝗹, & 𝗟𝗮𝘄𝗿𝗲𝗻𝗰𝗲 𝗣𝗮𝗿𝗸
Houses here continue to perform well with sales up to $9m sold in less than a month. Loads of competition in the sub $3m market with some flexibility for Buyers $3m to $10m. As in previous weeks, no major changes in condos here. Still chugging along as they’ve always been but some are taking a bit longer to sell than pre-covid.
📈House Average Price: $3,116,164
📈House Median Price: $2,638,000
📈213 Active Listings
📈22 Firm Sales This Week
📈Months of Inventory (MoI) ~ 3.6
📉Condo Average Price: $990,650
📉Condo Median Price: $916,250
📉358 Active Listings
📉10 Firm Sales This Week
📉MoI ~ 7.12
𝗟𝗲𝗮𝘀𝗶𝗱𝗲 & 𝗗𝗮𝘃𝗶𝘀𝘃𝗶𝗹𝗹𝗲
Steady steady steady here with no breaking news or anything to be concerned about really. Houses are strong and should continue to perform well. Great schools and transit access along with top shelf parks and local amenities keep the buyer pipeline consistently full here. Condos continue to drop here as with everywhere else. International students love this are as many of the largest language schools are around here so once the borders open up again we should see a significant increase in condo prices here.
📈House Average Price: $1,809,740
📈House Median Price: $1,860,177
📈64 Active Listings
📈14 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.75
📉Condo Average Price: $809,533
📉Condo Median Price: $782,000
📉252 Active Listings
📉15 Firm Sales This Week
📉MoI ~ 4.93
Average price and median dipped under a million here for the 2nd time since April but nothing to worry about here as every few weeks we have a few more “land value” sales go down that drop the average price. Newly built and renovated homes here are still trading ~$2m give or take depending on lot size. I’d bet we start to see a lot of developers start to sever the 40’ lots and create smaller towns, rows, or semis here in the coming years as demand increases.
📈House Average Price: $950,983
📈House Median Price: $900,000
📈31 Active Listings
📈8 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.34
As always, please comment below, DM, or call/text 416-434-1511 if any questions.