Week 27: Inflation, Tax Proposals, and Market Updates 

Welcome back to Week 27! It’s been an incredible journey over the past 27 weeks, and I want to express my gratitude to everyone who has been a part of it. If you enjoy our content, consider subscribing, liking, or sharing our YouTube videos—your support is truly appreciated.

## Economic Insights: Inflation Numbers and Tax Proposals

Let’s dive into the current economic landscape. Inflation numbers recently released are slightly higher than expected, primarily influenced by rising gas prices. This factor may impact the Bank of Canada’s upcoming announcement. While I anticipate a status quo in interest rates, the inflation uptick introduces an element of uncertainty.

We also need to address Olivia Chow’s tax proposal. While the prospect of double-digit tax increases might be daunting, it aligns with her mayoral program. The increase aims to recover revenue lost during last year’s real estate slowdown, potentially aiding the rental market in the long term. It’s a complex situation with short-term challenges for renters, but the long-term benefits could be substantial.

## Weekly Market Update: Areas and Trends

Now, let’s shift our focus to the real estate market. Across the downtown surrounding areas, including Don Mills, Leide Davisville, Mount Pleasant, Young in Eglinton, and the Durham area, the past couple of weeks have been intriguing.

– **Price Movements:** Prices have generally remained stable, with slight increases in some downtown areas.

– **Sales Surge:** In the downtown area, we observed a significant uptick in sales, almost 50% higher than the previous week.

– **Days on Market (DOM):** Condo units in the downtown area had a DOM of 52, indicating a market trend where existing listings are getting attention due to low inventory.

– **Active Listings:** There’s a positive sign of increasing active listings, suggesting a potential rise in buyer activity.

– **Durham Dynamics:** In the Durham area, we witnessed a substantial increase in sales, showcasing a 50% surge in just one week.

## What’s on the Horizon?

As we navigate the next couple of weeks, we anticipate more buyers entering the market, driven by the pent-up demand from the previous year’s subdued sales. Despite the uncertainties, the increased showings on our listings indicate a renewed interest.

For buyers, it’s crucial to stay informed. If you’re in the market, consult with your mortgage broker or real estate agent to make well-informed decisions.

As we await the Bank of Canada’s announcement and monitor the evolving tax landscape, I’m eager to hear your thoughts. Feel free to share your feedback and insights. Let’s stay connected as we navigate the dynamic real estate landscape together.

Thank you for your time, and here’s to a promising future in the real estate market! 🏡✨

Julian Compton, signing off. Have a great one! 👋 #RealEstateInsights #MarketUpdate #EconomicTrends #TorontoRealty

WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$ 1,169,417   WB – 1,240,429

Active Listings – 331      WB-321

Sold firm –18      WB- 7

Month on inventory – 1.40         WB- 1.36

Average Days on Market-33      WB-59

Condo Ave Price-$914,491     WB- $705,618

Active listings-1734       WB- 1690

Sold firm-55     WB –37

Months of Inventory- 3.27    WB – 3.19

Average days on market-52        WB-43

Don Mills Area- 

Housing Average Price- $1,560,000   WB – 0

Active Listings – 44    WB- 47

Sold firm –1       WB –0

Month of Inventory – 2.30     WB- 2.46

Average Days on Market-53       WB- 0

Condo Ave Price- $693,980     WB – $0

Active listings- 58      WB – 65

Sold firm- 5     WB – 0

Months of Inventory – 2.25    WB- 2.52

Average days on market- 36      WB – 0

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $1,835,433     WB – $0

Active Listings – 67     WB-67

Sold firm – 3      WB- 0

Months of Inventory- 1.35        WB- 1.35

Average Days on Market- 52      WB – 0

Condo Ave Price- $528,817      WB- $725,000

Active listings-239    WB-217

Sold firm-6       WB-4

Month of Inventory- 3.14     WB- 2.85

Average days on market- 53       WB – 74

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $941,523    WB – $889,400

Active Listings – 942    WB- 965

Sold firm – 81    WB – 42

Month of Inventory – 1.48     WB- 1.52

Average Days on Market- 42      WB- 38

Condo Ave Price- $487,500     WB – $545,000

Active listings- 192      WB – 179

Sold firm-8     WB –3

Months of Inventory – 1.75    WB- 1.63

Average days on market- 41      WB – 65

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