Week 15 – Will Rates increase or stay the same this week?

Hey everyone,

I hope you’re doing well. We’re back with our weekly update for Week 15, can’t believe we are at week 15 already!

Let’s dive into some key highlights.

Firstly, let’s touch on the positive news regarding inflation. Last week, it came down a bit more than expected, at 3.8%, which is good news considering the Bank of Canada’s projections. This is especially relevant given the upcoming announcement on interest rates this week.

Regarding the rental market, we’re seeing a gradual decline, but it’s important to note that many investors are still navigating challenging circumstances. Over 70% of new listings in the downtown core are either vacant or tenanted, highlighting the investor-centric nature of these listings.

As for downtown areas, we observed a notable increase in active listings, along with a rise in sold firm properties in both the freehold and condo sectors. This indicates an active market, albeit with some potential delays due to conditions on finance and inspections.

In terms of the broader picture, the downtown condo market is showing signs of heading into a buyer’s market with month-of-inventory figures inching up. This presents potential opportunities, particularly for those considering entering the market.

Moving into specific areas, the Don Mills region is holding steady, with slight fluctuations in active listings and sold firm properties. The Leaside, Davisville, Mount Pleasant, and Young in Eglington areas are also displaying typical patterns with some variance in prices.

The Durham area stands out with a healthy number of active listings and a notable uptick in sold firm properties, indicating a dynamic market.

Remember, these trends can shift, especially in light of potential Bank of Canada decisions. It’s essential to stay informed and consult with professionals in the field.

Thank you for your continued support. Don’t forget to like and subscribe for more updates. Wishing you a fantastic day!

                                                                   WB- Week Before

Downtown & Surrounding areas

Housing Average Price-$ 1,534,821    WB – 1,525,864

Active Listings – 793      WB-772

Sold firm –54      WB- 36

Month on inventory – 3.44         WB- 3.35

Average Days on Market-12      WB-12

Condo Ave Price-$788,781     WB- $785,235

Active listings-2,841     WB- 2,781

Sold firm-65     WB –49

Months of Inventory- 5.39    WB – 5.27

Average days on market-22        WB-24

Don Mills Area-  

Housing Average Price- $1,485,000    WB – 1,643,333

Active Listings – 78    WB- 72

Sold firm – 3      WB – 3

Month of Inventory – 4.07     WB- 3.75

Average Days on Market- 14      WB- 30

Condo Ave Price- $582,000     WB – $620,000

Active listings- 95      WB – 95

Sold firm- 2     WB – 5

Months of Inventory – 3.62    WB- 3.62

Average days on market- 27      WB – 24

Leaside, Davisville, Mount Pleasant, Young & Eg

Housing Average Price- $2,494,883     WB – $4,876,000

Active Listings – 174     WB-163

Sold firm – 6      WB- 5

Months of Inventory- 3.54        WB- 3.32

Average Days on Market- 17   WB – 19

Condo Ave Price- $691,400      WB- $799,157

Active listings-340    WB-332

Sold firm-5       WB-7

Month of Inventory- 4.40     WB- 4.30

Average days on market- 12       WB – 20

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $955,686    WB – $987,735

Active Listings – 1.743    WB- 1,657

Sold firm – 104     WB – 85

Month of Inventory – 2.77     WB- 2.63

Average Days on Market- 16      WB- 16

Condo Ave Price- $688,273     WB – $571,308

Active listings- 283      WB – 276

Sold firm- 11     WB – 13

Months of Inventory – 2.63    WB- 2.56

Average days on market- 22      WB – 44

Compare listings