[𝗩𝗶𝗱𝗲𝗼 𝗕𝗲𝗹𝗼𝘄] Week 37!
BOOM! New condo listings drop by more than 100 units this week as sales activity picks up. Desperate sellers are taking offers and selling while those that have the ability to ride this out are pulling their unsold units off the market. This speaks to the financial strength and stability of many owners as well as the strength of our real estate market in general. People that buy today will be very happy a year from now. The deals we were seeing even a week ago don’t seem to be on the table any longer.
📈House Average Price: $1,425,475
📈House Median Price: $1,291,251
📈545 Active Listings
📈74 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.65
📈Average Days on Market ~ 11.66 DoM
📈Condo Average Price: $769,922
📈Condo Median Price: $675,000
📈3201 Active Listings
📈113 Firm Sales This Week
📈MoI ~ 5.31
📈Average Days on Market (DOM) ~ 23.28
𝗨𝗿𝗯𝗮𝗻 𝗡𝗼𝗿𝘁𝗵: 𝗥𝗼𝘀𝗲𝗱𝗮𝗹𝗲, 𝗗𝗲𝗲𝗿 𝗣𝗮𝗿𝗸, 𝗠𝗼𝗼𝗿𝗲 𝗣𝗮𝗿𝗸, 𝗙𝗼𝗿𝗲𝘀𝘁 𝗛𝗶𝗹𝗹, & 𝗟𝗮𝘄𝗿𝗲𝗻𝗰𝗲 𝗣𝗮𝗿𝗸
Don’t get too excited about that huge jump in average price here. Some huge sales skew that data a little. Sales down from 19 to only 9 this week but that should jump up next week. Still fairly steady here as most houses listed under $3M are flying with a ton of activity north of $5m as well. We should see sales maintain a relatively low rate here as we approach the holidays.
📈House Average Price: $4,005,667
📈House Median Price: $2,800,000
📈183 Active Listings
📈9 Firm Sales This Week
📈Months of Inventory (MoI) ~ 2.96
📉Condo Average Price: $1,343,127
📉Condo Median Price: $780,000
📉335 Active Listings
📉15 Firm Sales This Week
📉MoI ~ 7.05
𝗟𝗲𝗮𝘀𝗶𝗱𝗲 & 𝗗𝗮𝘃𝗶𝘀𝘃𝗶𝗹𝗹𝗲
Listings of houses and condos are down here as well continuing the theme of the last three weeks. Prices of houses continue to improve rewarding home sellers and making buyers bend over backward to get what they want. Condos also remain stable here as well with some of the lowest months of inventory and most stable prices.
📈House Average Price: $2,234,050
📈House Median Price: $1,810,250
📈47 Active Listings
📈10 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.58
📉Condo Average Price: $696,500
📉Condo Median Price: $643,500
📉242 Active Listings
📉10 Firm Sales This Week
📉MoI ~ 4.78
Another week here with fairly low sales activity with the 4 sales being mostly for land value. Any agent can check the MLS and tell you what’s sold and what hasnt’ but our local intelilgence goes beyond that. One of our developer clients sold his project to a local privately for $2.5m. In 2021 We’ll see $2.5 be the entry level price for nicely done new builds on 40’ lots.
📈House Average Price: $848,000
📈House Median Price: $756,500
📈34 Active Listings
📈4 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.