Week 29 – Is the spring Market gearing up!?!

Welcome back to our weekly real estate rendezvous! This week, we’re diving into the aftermath of the Bank of Canada rate announcement and the bustling activity in the Greater Toronto Area (GTA).

First off, a heartfelt thank you for consistently tuning in. If you find our insights valuable, don’t forget to show some love—like, share, or subscribe to our YouTube channel.

Let’s cut to the chase. The Bank of Canada held the rates, aligning with expectations. However, what’s captivating is the surge in market activity post-announcement. Multiple offer situations are becoming more frequent, with some properties receiving over 30 or even 60 offers. The question lingering in the air: Where are all these buyers coming from?

Our take? Pent-up demand. Emotions are running high as individuals navigate decisions about buying, selling, or staying put in the current market dynamics. High-interest rates and the weight of significant financial decisions are adding layers to the complexity.

Our advice? Talk to your mortgage broker and realtor. Understanding your position in the market is crucial. Whether you’re contemplating a move this year or still on the fence, clarity is key. The uptick in activity isn’t just a blip—it’s a trend, and now is the opportune moment to assess your goals.

Now, let’s zoom into the specifics of the GTA:

**Downtown Surrounding Areas:**

– Freehold side: New listings are on the rise, and sales are gradually picking up.

– Condo side: A moderate uptick in sales, but active listings remain flat. Over 1700 units await eager buyers.

**Don Mills Area:**

– Freehold side: New active listings are down, but sales are showing a promising uptick.

– Condo side: A surge in sales, accompanied by a downtrend in active listings.

**Leaside, Davisville, Mount Pleasant, Young, and Eglinton Area:**

– Uptick in new listings, but a dip in sales for the freehold side.

– Condo side: Both sales and active listings are showing signs of a moderate increase.

**Durham Area:**

– Over 100 sales on the Freehold side, with a decrease in active listings.

– Condo side: Sales remain flat, calling for an injection of new listings.

In a nutshell, the market is on the move. Buyers are seizing opportunities, and sellers can navigate advantageous scenarios, especially with properties that have lingered on the market.

Have questions or seeking personalized insights? Reach out, and let’s navigate the GTA market together. Like, share, and subscribe for more updates. Your support means the world.

Here’s to informed decisions and a thriving GTA real estate journey! 🏡✨

                                                                                            WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$ 1,599,368   WB – 1,351,767

Active Listings – 359      WB-319

Sold firm –19      WB- 15

Month on inventory – 1.52         WB- 1.35

Average Days on Market-31      WB-17

 

Condo Ave Price-$889,493     WB- $745,101

Active listings-1789       WB- 1749

Sold firm-70     WB –66

Months of Inventory- 3.38    WB – 3.30

Average days on market-30        WB-41

Don Mills Area-  

Housing Average Price- $1,582,000   WB – 1,977,000

Active Listings – 41    WB- 39

Sold firm –4       WB –3

Month of Inventory – 2.15     WB- 2.04

Average Days on Market-28       WB- 68

 

Condo Ave Price- $649,714     WB – $732,500

Active listings- 60      WB – 65

Sold firm- 7     WB – 2

Months of Inventory – 2.33    WB- 2.52

Average days on market- 34      WB – 84

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $2,697,100     WB – $1,487,000

Active Listings – 68     WB-72

Sold firm – 5      WB- 1

Months of Inventory- 1.37        WB- 1.45

Average Days on Market- 22      WB – 55

 

Condo Ave Price- $811,536      WB- $775,625

Active listings-232    WB-233

Sold firm-14       WB-8

Month of Inventory- 3.05     WB- 3.06

Average days on market- 38       WB – 26

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $1,010,061    WB – $944,537

Active Listings – 887    WB- 908

Sold firm – 111    WB – 99

Month of Inventory – 1.40     WB- 1.43

Average Days on Market- 29      WB- 30

 

Condo Ave Price- $647,800     WB – $534,417

Active listings- 186      WB – 199

Sold firm-20     WB –18

Months of Inventory – 1.70    WB- 1.82

Average days on market- 43      WB – 48

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