Week 22 – Navigating Market Dynamics

🏡 **Week 22 Real Estate Update: Navigating Market Dynamics** 📈

Hey everyone,

We’re back with our Week 22 Real Estate Update! As we approach the year-end, we want to express our gratitude for your continued support. If you find our updates valuable, consider giving us a like, sharing, or subscribing to our YouTube Page —it means the world to us!

💼 **Interest Rates and Market Trends:**

Discussing the recent Bank of Canada decision to hold rates, we note a silver lining. Bond yields are decreasing, leading to a drop in fixed rates—possibly below 5% by year-end. This could offer opportunities for potential buyers to secure favorable rates.

🏠 **Market Insights and Predictions:**

Looking ahead, we anticipate the market’s trajectory into early and mid-next year. While challenges persist, such as mortgage renewals and economic uncertainties, opportunities may arise for both buyers and sellers.

**Freehold Areas:**

– Downtown: A slight decrease in active listings, with a positive uptick in sales. Months of inventory at 2.27, down from 2.5 last week.

– Don Mills: A slowdown in active listings across both freehold and condos, indicating stability.

– Leaside/Mount Pleasant: Active listings show a decline, signaling potential opportunities.

**Condo Market:**

– Downtown Condos: A substantial drop in active listings (over 100 in a week, 300 in two weeks) indicates a notable slowdown.

– Don Mills Condos: Active listings are decreasing, and sales remain relatively flat.

**Durham Area:**

– Active listings decline, especially in freehold properties.

– A noticeable slowdown in sold firm numbers for Freehold properties.

📊 **Monthly Stats Preview:**

Getting a sneak peek into December’s stats, we observe a continuing decrease in active listings. For those keeping an eye on the market, this provides early insights ahead of official monthly reports.

📌 **Regulatory Updates:**

Stay tuned for detailed coverage of new regulations from TREB that impact both buyers and sellers. We’ll delve into these changes in the coming weeks.

👋 **Connect with Us:**

If you have questions or concerns about your specific home type or area, reach out to us. Your feedback and engagement are highly valued!

🙏 **Thank You and Subscribe:**

Thanks for tuning in! Don’t forget to hit the subscribe button for more real-time updates and insights. We appreciate your support. Have a fantastic day!

🏠🚀 #RealEstateUpdate #MarketTrends #YearEndReflections #2024Predictions #Homebuying #Homeselling

                                                                                           WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$ 1,469,707    WB – 1,668,262

Active Listings – 528      WB-592

Sold firm –41      WB- 39

Month on inventory – 2.27         WB- 2.54

Average Days on Market-20      WB-26

 

Condo Ave Price-$732,692     WB- $766,792

Active listings-2,368     WB- 2,477

Sold firm-53     WB –54

Months of Inventory- 4.50    WB – 4.71

Average days on market-33        WB-29

Don Mills Area-  

Housing Average Price- $1,287,500    WB – 2,361,750

Active Listings – 66    WB- 71

Sold firm –2       WB – 4

Month of Inventory – 3.54     WB- 3.80

Average Days on Market- 44      WB- 31

 

Condo Ave Price- $790,000     WB – $840,000

Active listings- 82      WB – 92

Sold firm- 3     WB – 1

Months of Inventory – 3.18    WB- 3.57

Average days on market- 53      WB – 11

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $2,058,644     WB – $1,811,194

Active Listings – 126     WB-138

Sold firm – 9      WB- 8

Months of Inventory- 2.63        WB- 2.88

Average Days on Market- 20   WB – 18

 

Condo Ave Price- $624,055      WB- $851,917

Active listings-297    WB-316

Sold firm-11       WB-6

Month of Inventory- 3.90     WB- 4.15

Average days on market- 32       WB – 16

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $916,139    WB – $885,528

Active Listings – 1,386    WB- 1,508

Sold firm – 96    WB – 67

Month of Inventory – 2.21     WB- 2.4

Average Days on Market- 26      WB- 21

 

Condo Ave Price- $638,778     WB – $594,538

Active listings- 268      WB – 270

Sold firm- 9     WB – 13

Months of Inventory – 2.47    WB- 2.49

Average days on market- 21      WB – 46

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