[𝗩𝗶𝗱𝗲𝗼 𝗕𝗲𝗹𝗼𝘄] Week 36!
Some more good news to report this week re Condos. So last week we reported that for the first time since March 1st, there was a week over week drop in inventory. This week it was flat. Again for the first time since COVID. If we see a flattening or drop for two or three more weeks in a row I’d feel pretty good about the condo market. Again, it all depends on when borders open. Once a rapid test or effective vaccine is in place, condo values will skyrocket.
📈House Average Price: $1,504,341
📈House Median Price: $1,302,450
📈589 Active Listings
📈100 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.65
📈Average Days on Market ~ 11.66 DoM
📈Condo Average Price: $738,461
📈Condo Median Price: $663,000
📈3302 Active Listings
📈114 Firm Sales This Week
📈MoI ~ 5.31
📈Average Days on Market (DOM) ~ 22.57
𝗨𝗿𝗯𝗮𝗻 𝗡𝗼𝗿𝘁𝗵: 𝗥𝗼𝘀𝗲𝗱𝗮𝗹𝗲, 𝗗𝗲𝗲𝗿 𝗣𝗮𝗿𝗸, 𝗠𝗼𝗼𝗿𝗲 𝗣𝗮𝗿𝗸, 𝗙𝗼𝗿𝗲𝘀𝘁 𝗛𝗶𝗹𝗹, & 𝗟𝗮𝘄𝗿𝗲𝗻𝗰𝗲 𝗣𝗮𝗿𝗸
The downtown trend is moving North with no new listings added to the pile and an increase in sales for both condos and houses. Perhaps it’s the weather driving this buying activity in both houses and condos but I’ll wait to see the next few weeks before I make any calls on the condo recovery timeline. Houses here are still moving quite well and there’s no reason to expect that to change anytime soon.
📈House Average Price: $2,511,579
📈House Median Price: $2,060,000
📈200 Active Listings
📈19 Firm Sales This Week
📈Months of Inventory (MoI) ~ 2.96
📉Condo Average Price: $1,435,962
📉Condo Median Price: $910,000
📉348 Active Listings
📉13 Firm Sales This Week
📉MoI ~ 7.05
𝗟𝗲𝗮𝘀𝗶𝗱𝗲 & 𝗗𝗮𝘃𝗶𝘀𝘃𝗶𝗹𝗹𝗲
Sales are down here this week but active listings are also down for both houses and condos. Similar trend here. Very nice to see that owners are being incredibly responsible across the board and holding back their units when they aren’t getting the offer prices they’d hoped for. Houses here are in such limited supply that they should continue to sell well as we head into the winter season.
📈House Average Price: $1,864,000
📈House Median Price: $1,625,000
📈52 Active Listings
📈12 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.58
📉Condo Average Price: $632,500
📉Condo Median Price: $560,000
📉243 Active Listings
📉4 Firm Sales This Week
📉MoI ~ 4.78
A pretty slow week with sales nearly halved but zero change to listing inventory keeps Sellers in the driver’s seat in most cases. Average is down this week due to 3 of the 4 sales being basically land value bungalows all gone in multiple offers in less than 7 days.
📈House Average Price: $835,250
📈House Median Price: $756,500
📈32 Active Listings
📈8 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.38
As always, please comment below, DM, or call/text 416-434-1511 if any questions.