[𝗩𝗶𝗱𝗲𝗼 𝗕𝗲𝗹𝗼𝘄] Week 38!!
Is this the condo comeback we’ve been waiting for or a bump before another drop? That is the question. Forget average price here as we had an unusual number of small small small units dominate the sales count this week. But we had a bunch of small small small units sell! Meaning, buyers are back at it and are absorbing all of those units that have been sitting stagnant. If this keeps up we’ll be under 3000 available units for the first time since mid July and that’s a great thing for anyone trying to sell a condo. The window of opportunity for Buyers in condoland could be closing as we speak.
📈House Average Price: $1,408,205
📈House Median Price: $1,310,786
📈531 Active Listings
📈87 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.65
📈Average Days on Market ~ 11.66 DoM
📈Condo Average Price: $686,062
📈Condo Median Price: $620,000
📈3046 Active Listings
📈121 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
Smooth sailing here with both condos and houses moving as they have been for the past 38 weeks. Average price is back to a normal level after last week’s massive sales skewed the numbers a bit. Sales this week ranged from $1.2 for an entry level semi in Lawrence Park up to $4.7 for a nicely designed Forest Hill home. I expect no major swings in this area as we close out 2020.
📈House Average Price: $2,557,286
📈House Median Price: $2,425,000
📈172 Active Listings
📈14 Firm Sales This Week
📈Months of Inventory (MoI) ~ 2.96
📉Condo Average Price: $1,256,600
📉Condo Median Price: $1,152,500
📉330 Active Listings
📉10 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: $1,721,500
📈House Median Price: $1,724,000
📈51 Active Listings
📈6 Firm Sales This Week
📈Months of Inventory (MoI) ~ 1.58
📉Condo Average Price: $764,848
📉Condo Median Price: $636,940
📉240 Active Listings
📉8 Firm Sales This Week
📉MoI ~ 4.78
Seven out f the 8 sales were bungalows this week. Developers and entry level buyers are out in full force buying these gems up. Half of them will be $2.5m mini-mansions in 10 months and the other half, lived in and enjoyed for many years to come as is. Birchcliff is turning out to be quite the awesome community with liveable homes you can snag for as low as the mid to high $800’s.
📈House Average Price: $885,939
📈House Median Price: $865,000
📈28 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.