Week 19- is the winter slow down here?

Hello Everyone,

I trust you’re all doing well.

Welcome to Week 19 of our weekly market update.

Firstly, I want to express my gratitude to each one of you for your continued support. Watching us and helping us grow means a lot. We always appreciate your support, so if you could like, comment, subscribe, and share, that would be amazing. It helps us reach more people and share valuable insights about the market.

Let’s dive into the updates for this week. I’ll keep it short and sweet, focusing on what we’re observing in various areas: Don Mills, Downtown and its surrounding areas, Leaside, Mount Pleasant, Yonge and Eglington, and the Durham area. Instead of dwelling on year-over-year October numbers, we want to provide a snapshot of the current market, sharing experiences with our clients and discussing our predictions for the next month.

Currently, we’re noticing a decrease in active listings week to week. This trend is a bit earlier than usual, usually seen in mid-December, but for almost three to four weeks, we’ve seen a slight decline. In the downtown surrounding areas, particularly in freehold properties, active listings have dropped from 719 to 685, with almost 100 fewer listings compared to a couple of weeks ago. The price for freeholds has decreased slightly, while condo prices remain relatively flat. Buyers seem to be taking their time, benefiting from increased inventory.

Moving to the Don Mills area, active listings are picking up. Sales remain steady, but it takes almost a month for freeholds to sell, indicating a balanced market. Prices are slightly decreasing, with condos showing similar trends.

In the Leaside area, everything seems pretty flat. Prices have come down a bit, with fluctuations in high-end and lower-end listings. Months of inventory have decreased, aligning with the trend of a rising condo market.

Now, in the Durham area, we see a flat trend for active listings, with an interesting increase in sold firms for freeholds. Condo activity remains average, with a slight increase in active listings.

In conclusion, the market is showing signs of a gradual decline in inventory. We anticipate this trend to continue, especially in the condo market. The Downtown Core might not reach the speculated 3000 active listings due to sellers understanding the market and either relisting at a lower price or waiting for the spring market.

Thank you for your continued support. Please share, like, comment, and subscribe for more insights that go beyond daily news updates. We appreciate your time and look forward to providing you with valuable information in the future.

Have a great day!

Thanks.

                                                                                               WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$ 1,416,875    WB – 1,562,085

Active Listings – 685      WB-719

Sold firm –48      WB- 48

Month on inventory – 2.95         WB- 3.10

Average Days on Market-17      WB-18

Condo Ave Price-$773,496     WB- $764,316

Active listings-2,726     WB- 2,778

Sold firm-55     WB –59

Months of Inventory- 5.14    WB – 5.24

Average days on market-31        WB-30

Don Mills Area-  

Housing Average Price- $1,178,333    WB – 1,239,200

Active Listings – 85    WB- 79

Sold firm –3       WB – 4

Month of Inventory – 4.81     WB- 4.47

Average Days on Market- 26      WB- 29

Condo Ave Price- $540,000     WB – $711,250

Active listings- 103      WB – 96

Sold firm- 2     WB – 2

Months of Inventory – 3.82    WB- 3.56

Average days on market- 31      WB – 49

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $1,475,188     WB – $1,864,200

Active Listings – 163     WB-171

Sold firm – 8      WB- 10

Months of Inventory- 3.37        WB- 3.54

Average Days on Market- 21   WB – 11

Condo Ave Price- $670,833      WB- $911,344

Active listings-323    WB-331

Sold firm-6       WB-16

Month of Inventory- 4.28     WB- 4.39

Average days on market- 28       WB – 29

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $950,720    WB – $1,019,188

Active Listings – 1,619    WB- 1,697

Sold firm – 99     WB – 82

Month of Inventory – 2.57     WB- 2.70

Average Days on Market- 19      WB- 15

Condo Ave Price- $659,050     WB – $601,752

Active listings- 297      WB – 289

Sold firm- 10     WB – 21

Months of Inventory – 2.76    WB- 2.69

Average days on market- 20      WB – 17

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