Urban Markets: Downtown & Surrounding Areas
As expected, house supply improved this week but not nearly enough to take any pressure off of Buyers. We should see this continue into the coming weeks but I’ll believe it when I see it as that’s what should have happened last week but new listings remained flat.

Condos are now at critical low supply levels. Only 1000 units available for sale in our urban markets (compared to just under 3500 in November). That’s a drop of 2500 units in 3 months. There are currently 1400 fewer condos for sale in the entire 416 than were in our urban communities in November. Let that sink in before you come at us looking for deals in condo land. Deals have disappeared.

House Average Price: $1,617,192
House Median Price: $1,520,000
297 Active Listings
75 Firm Sales This Week
Months of Inventory (MoI) ~ 0.64
Average Days on Market ~ 12 DoM

Condo Average Price: $754,718
Condo Median Price: $678,000
1000 Active Listings
191 Firm Sales This Week
MoI ~ 1.67
Average Days on Market (DOM) ~ 21

Urban North: Rosedale, Deer Park, Moore Park, Forest Hill, & Lawrence Park
Unlike downtown and surrounding area the Urban North market actually saw a dip in active house supply and a serious jump in house sales. Seems like many people are able to up their budgets to get into this market as lockdowns and travel restrictions are boosting the savings of many families. Expect demand to continue for urban north houses.

Same story for condos as listings slightly dropped and sales up a bit. Deals are pretty much off the table across the board here as months of inventory in both houses and condos are dipping down to all-time lows. All while buyer demand is increasing. Looks like those folks that have vowed to stay south of Bloor are signing a different tune now…lol!

House Average Price: $2,866,673
House Median Price: $2,800,000
83 Active Listings
22 Firm Sales This Week
Months of Inventory (MoI) ~ 1.09

Condo Average Price: $1,306,195
Condo Median Price: $1,045,000
171 Active Listings
18 Firm Sales This Week
MoI ~ 2.98

Leaside & Davisville
Houses continue to be dangerously undersupplied here further fuelling the strong seller’s market for houses. Less than a month of supply. You’ll see major weekly swings in average price here as we’re dealing with an extremely small data set so take that with a grain of salt as usual.

Condo supply has significantly dropped this week here. More than we’ve ever seen actually. Down to only 64 units for sale. The MoI will likely creep to close to one month. We’ll report at the end of the month. Buyers who’ve been experiencing a relatively calm condo market in Leaside/Davisville are about to get a rude awakening! If you’re a buyer here you’d better get on your horse. There’s a pop in value coming here. We can feel it.

House Average Price: $1,952,920
House Median Price: $1,780,750
32 Active Listings
6 Firm Sales This Week
Months of Inventory (MoI) ~ 0.89

Condo Average Price: $650,317
Condo Median Price: $671,900
64 Active Listings
12 Firm Sales This Week
MoI ~ 1.87

Birch Cliff
As usual only a few sales here (4) so the average price doesn’t hold much weight. Yoru typical unrenovated bungalow could still trade for under a million the further east you go. But if you’re in the prime Birchcliff area closer to Victoria park north of Kingston then we’re talking over a million. Finished 40’ lot homes north of $2.5mm and so on. A mixed bag of properties depending on how east you go. This area needs a pro representing you as many properties trade off-market here.

House Average Price: $1,181,725
House Median Price: $1,152,500
12 Active Listings
4 Firm Sales This Week
Months of Inventory (MoI) ~ 0.33

Thanks so much for your energy and attention! If you need clarity on any of this or want to talk about your specific situation then call/text/email anytime: ara@thespringteam.ca or 416-434-1511

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