Welcome back, everyone! Today, on Halloween, I’m here dressed as The Rock (fanny pack included… somewhere) See YouTube video for proof 😉 Let’s dive into our weekly update.
Last week, the Bank of Canada held steady, which is a relief for many. The economic landscape, driven by factors like inflation, has been a rollercoaster ride. The next announcement is slated for December 6th, so there’s still uncertainty in the air.
For homeowners, the possibility of rates jumping from 2% to 5-6% looms, which could prompt some to consider selling. We’ve noticed a trend of investors listing their downtown condos, while freehold properties have a mix of investors and others.
In terms of market activity, freehold listings have seen some fluctuations, possibly due to the Bank of Canada announcement. We expect an uptick in the coming weeks.
Condo listings have remained relatively stable. Buyers seem to have more breathing room in this segment, but activity persists.
In specific areas like Don Mills, Leaside, Mount Pleasant, Young and Eglinton, and Durham, the market is holding steady, with slight increases in active listings.
For buyers, this could be a strategic time. Rates haven’t risen, allowing for careful consideration. We advise connecting with a mortgage broker to navigate the current stress test rates.
As we move forward, we’ll keep a close eye on market trends. Remember, we’re here to assist you in making informed decisions about your property endeavors.
Don’t forget to subscribe to our YouTube channel for in-depth insights. Wishing you all a fantastic Halloween and may the candy stash last till the trick-or-treaters arrive!
WB- Week Before
Downtown & Surrounding areas
Housing Average Price-$ 1,429,306 WB – 1,534,821
Active Listings – 774 WB-793
Sold firm –60 WB- 54
Month on inventory – 3.36 WB- 3.44
Average Days on Market-17 WB-12
Condo Ave Price-$743,824 WB- $788,781
Active listings-2,843 WB- 2,841
Sold firm-61 WB –65
Months of Inventory- 5.39 WB – 5.39
Average days on market-20 WB-22
Don Mills Area-
Housing Average Price- $1,480,000 WB – 1,485,000
Active Listings – 88 WB- 78
Sold firm – 2 WB – 3
Month of Inventory – 4.60 WB- 4.07
Average Days on Market- 25 WB- 14
Condo Ave Price- $621,000 WB – $582,000
Active listings- 97 WB – 95
Sold firm- 2 WB – 2
Months of Inventory – 3.69 WB- 3.62
Average days on market- 9 WB – 27
Leaside, Davisville, Mount Pleasant, Young & Eg
Housing Average Price- $2,134,750 WB – $2,494,883
Active Listings – 174 WB-174
Sold firm – 10 WB- 6
Months of Inventory- 3.54 WB- 3.54
Average Days on Market- 9 WB – 17
Condo Ave Price- $647,300 WB- $691,400
Active listings-344 WB-340
Sold firm-10 WB-5
Month of Inventory- 4.46 WB- 4.40
Average days on market- 33 WB – 12
Durham ( Pickering, Ajax, Whitby)
Housing Average Price- $943,780 WB – $955,686
Active Listings – 1,759 WB- 1,743
Sold firm – 102 WB – 104
Month of Inventory – 2.80 WB- 2.77
Average Days on Market- 15 WB- 16
Condo Ave Price- $667,993 WB – $688,273
Active listings- 295 WB – 283
Sold firm- 15 WB – 11
Months of Inventory – 2.74 WB- 2.63
Average days on market- 16 WB – 22