Week 26- A look back at the last 6 months!

Hello Everybody,

Welcome back to Week 26 of our weekly updates—half a year of keeping you informed! 🎉 First and foremost, a huge thank you for your continued support and for tuning in. If you enjoy our content, don’t forget to subscribe, like, and share on YouTube.

As we reflect on the past six months, it’s clear that the market has remained resilient, showcasing stability in prices throughout the GTA. Despite the challenges, the real estate landscape has proven its adaptability.

Looking ahead to 2024, there’s anticipation for a different market dynamic. The hope is for an increase in transactions, especially after last year’s 25-year low. With the bond market stabilizing, fixed-rate mortgages are benefiting, making this a potentially opportune time for buyers.

Predicting the market’s direction involves considerations of global economic factors, the state of the economy, and possible changes in interest rates. The recent dip in prices in some areas could present opportunities, and we’re keeping a close eye on the market trends.

In our weekly update on specific areas—Downtown, Don Mills, Young and Eglington, Davisville, Mount Pleasant, and Durham—we’ve noticed some fluctuations. The Freehold market, particularly in Downtown, displayed volatility, while the Condo market maintained stability.

The holidays resulted in a decrease in active listings, with many sellers likely waiting for the spring market to relist their properties. This presents an interesting scenario for buyers with fewer options in the market.

In the Don Mills area, things remained relatively quiet, and the Leaside and Davisville areas saw a level of stability with no significant sales movement. The Durham area experienced a dip in active listings but saw increased activity in sold firms, potentially driven by investment interest.

As we move beyond the holiday lull, we’re gearing up for more market activity. Your continued support has been incredible over these six months, and we’re excited to continue keeping you informed throughout the year.

Drive safely in the winter wonderland that Toronto has become, and have a fantastic day! 🚗❄️ Thank you, everyone, and take care! 👋 #RealEstateUpdate #MarketTrends #TorontoRealEstate #HalfYearAnniversary #WinterWonderland

                                                                                            WB- Week Before

Downtown & Surrounding areas

Housing Average Price-$ 1,240,429   WB – 1,580,000

Active Listings – 321      WB-324

Sold firm –7      WB- 4

Month on inventory – 1.36         WB- 1.39

Average Days on Market-59      WB-46

Condo Ave Price-$705,618     WB- $723,185

Active listings-1690    WB- 1713

Sold firm-37     WB –21

Months of Inventory- 3.19    WB – 3.25

Average days on market-43        WB-47

Don Mills Area-  

Housing Average Price- $0    WB – 1,162,500

Active Listings – 47    WB- 46

Sold firm –0       WB –2

Month of Inventory – 2.46     WB- 2.46

Average Days on Market- 0      WB- 40

Condo Ave Price- $0     WB – $610,000

Active listings- 65      WB – 65

Sold firm- 0     WB – 1

Months of Inventory – 2.52    WB- 2.52

Average days on market- 0      WB – 29

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $0     WB – $923,272

Active Listings – 67     WB-68

Sold firm – 0      WB- 1

Months of Inventory- 1.35        WB- 1.42

Average Days on Market- 0    WB – 15

Condo Ave Price- $725,000      WB- $490,000

Active listings-217    WB-219

Sold firm-4       WB-1

Month of Inventory- 2.85     WB- 2.88

Average days on market- 74       WB – 29

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $889,400    WB – $934,939

Active Listings – 965    WB- 981

Sold firm – 42    WB – 28

Month of Inventory – 1.52     WB- 1.56

Average Days on Market- 38      WB- 35

Condo Ave Price- $545,000     WB – $567,667

Active listings- 179      WB – 181

Sold firm-3     WB –6

Months of Inventory – 1.63    WB- 1.67

Average days on market- 65      WB – 45

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