Team Compton Market Recap Week 38 & 39 – Market Stats, BOC hold & New Gov Housing Bill!

Hey everyone, bringing you the latest scoop on what’s been unfolding in the Toronto real estate scene! 📊 Let’s jump right into the key highlights from the past couple of weeks. 💼

📈 **Market Developments:** We’ve got some exciting updates to share, including March stats, the recent Bank of Canada announcement, and insights into a new housing bill unveiled by the government. Let’s break it down! 🏡

🏦 **Bank of Canada Update:** The Bank of Canada has opted to maintain interest rates, with indications that changes could be on the horizon as we approach June. The economy’s performance is a key factor influencing this decision. 📉

🏡 **New Housing Bill:** The government’s new housing bill introduces measures to expedite student housing construction by universities, streamline the process for single dwelling homes, duplexs and triplexes, and implement a “use it or lose it” policy for low-rise developments. These initiatives aim to boost housing supply, though more may be needed to meet long-term goals. 🏗️

📊 **March Market Stats:** Looking back at March, overall market activity remained stable year-over-year. Prices saw modest increases, while the number of homes sold dipped slightly, likely due to holiday impacts. However, the month-to-month sales saw a notable uptick in detached homes. 📈

🌧️ **Spring Market Outlook:** With spring in full swing, we anticipate an increase in market activity post-Easter. New listings have already seen a 15% month-over-month rise, signaling seller optimism and stability in prices. 🌷

💬 **Weekly Insights:** Last week was relatively quiet due to holidays, but we expect momentum to pick up as we head into April. The real estate landscape is showing signs of promise, especially with new listings and buyer interest on the rise. 📅

📉 **Days on Market:** Freehold properties are moving swiftly, with some selling in under two weeks. Condos are taking a bit longer, averaging 3 to 4 weeks to sell. Overall, prices are holding steady across most areas. 🕒

🤝 **Get in Touch:** Have questions about the latest developments or how they impact your specific area or property type? Reach out to us for personalized insights and advice tailored to your needs! 📞

That’s a wrap for now! Thanks for tuning in, and remember, we’re here to help navigate the ever-evolving real estate landscape. Don’t hesitate to reach out with any inquiries or if you’re ready to make your next move! 🌟 #TorontoRealEstate #MarketUpdate #SpringIntoAction 🏠

                                                                                                 WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$1,625,555    WB – 1,652,917

Active Listings – 470       WB-338

Sold firm – 51     WB- 74

Month on inventory – 1.99        WB- 1.43

Average Days on Market-11      WB-10

Condo Ave Price-$ 869,384    WB- $795,088

Active listings- 2509     WB- 1986

Sold firm- 91    WB –127

Months of Inventory-4.62     WB – 3.66

Average days on market- 29       WB-26

Don Mills Area-  

Housing Average Price- $2,115,000   WB – $1,623,500

Active Listings – 58    WB- 48

Sold firm –3       WB –5

Month of Inventory – 2.96     WB- 2.45

Average Days on Market- 14       WB- 7

Condo Ave Price- $723,750     WB – $712,778

Active listings- 92      WB – 72

Sold firm- 4     WB – 9

Months of Inventory – 3.4    WB- 2.66

Average days on market- 218      WB – 27

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $2,504,385     WB – $1,983,560

Active Listings – 113     WB-77

Sold firm – 13     WB- 17

Months of Inventory- 2.38        WB- 1.62

Average Days on Market- 16      WB – 8

Condo Ave Price- $888,280      WB- $682,894

Active listings- 304     WB-233

Sold firm-10      WB-16

Month of Inventory-3.83      WB- 2.9

Average days on market- 31       WB – 27

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $986,627    WB – $999,818

Active Listings – 1250    WB- 901

Sold firm – 147    WB – 195

Month of Inventory –1.91      WB- 1.37

Average Days on Market- 14      WB- 11

Condo Ave Price- $581,250     WB – $666,246

Active listings- 251      WB – 179

Sold firm-12     WB –20

Months of Inventory –2.27     WB- 1.62

Average days on market-18       WB – 19

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