Week 31 – Action continues to pick up in a normal way.

Hello everyone!

Welcome back to our Week 31 update. Your continued support means the world to us. If you enjoy our insights, a subscription, like, or share would be greatly appreciated.

Now, let’s dive into a quick overview of what’s happening in the real estate market, focusing on our key areas: Downtown Surrounding Areas, Don Mills, Leaside, Mount Pleasant, Young at Eglinton, Davisville, and the Durham regions.

**Market Snapshot:**

– Headlines suggest a market resurgence, and indeed, we’ve witnessed a positive uptick in sales month over month, a promising 22% increase.

– Bond yield numbers have influenced a decrease in fixed mortgage rates, and with the Bank of Canada holding rates steady, we’re anticipating potential adjustments in Q2 or early Q3.

– While the real estate market remains robust, we are mindful of global economic factors that may impact it.

**Market Dynamics:**

– We’re still in a seller’s market, but price-wise, the market is holding relatively flat, which is encouraging.

– The unpredictability of interest rate changes keeps buyers and sellers on their toes. The next Bank of Canada announcement on March 6th will provide valuable insights.

**Weekly Area Insights:**

1. **Downtown Surrounding Areas:**

   – Prices and active listings remained stable.

   – An uptick in freehold sales, with most properties selling within a week or two of listing.

   – Condo market: Active listings stable, with a potential uptick in the coming weeks.

2. **Don Mills:**

   – Lagging slightly but showing minor improvements.

   – Sales are slightly up, especially on the condo side.

3. **Leaside, Mount Pleasant, Young at Eglinton:**

   – Generally stable, with a slight uptick in freehold and condo sales.

   – The market is moving in the right direction.

4. **Durham Areas:**

   – A bit slower but witnessing an uptick in Freehold sales.

   – Opportunities for investors due to low inventory.

**Weekly Numbers Overview:**

– New listings are on the rise, reflecting increased buyer interest.

– Freehold sales remain steady, with condos showing a delayed uptick.

**Looking Ahead:**

– With an increasing number of new listings, we expect a more active market in the coming weeks.

– As spring approaches, the market is likely to pick up momentum.

In summary, while January and December are typically slow, we’re witnessing a gradual acceleration in February. If you have questions or concerns about your home or area, feel free to reach out. Thanks for your time, and have a fantastic day! 🏡✨ #RealEstateUpdate #MarketInsights #Homebuyers #Homesellers #TorontoRealEstate

                                                                                          WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$ 1,477,234   WB – 1,478,164

Active Listings – 389      WB-361

Sold firm –32      WB- 37

Month on inventory – 1.64         WB- 1.52

Average Days on Market-22      WB-15

Condo Ave Price-$778,065     WB- $729,902

Active listings-1869       WB- 1792

Sold firm-87     WB –66

Months of Inventory- 3.45    WB – 3.38

Average days on market-29        WB-32

Don Mills Area-  

Housing Average Price- $1,308,333   WB – $951,000

Active Listings – 53    WB- 45

Sold firm –3       WB –1

Month of Inventory – 2.73     WB- 2.35

Average Days on Market- 23       WB- 4

Condo Ave Price- $689,214     WB – $649,714

Active listings- 65      WB – 62

Sold firm- 7     WB – 4

Months of Inventory – 2.44    WB- 2.40

Average days on market- 55      WB – 31

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $2,448,000     WB – $1,726,333

Active Listings – 78     WB-70

Sold firm – 6      WB- 3

Months of Inventory- 1.61        WB- 1.40

Average Days on Market- 29      WB – 31

Condo Ave Price- $1,116,544      WB- $664,500

Active listings-265    WB-241

Sold firm-9       WB-7

Month of Inventory- 3.45     WB- 3.17

Average days on market- 23       WB – 30

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $948,199    WB – $927,964

Active Listings – 872    WB- 872

Sold firm – 127    WB – 86

Month of Inventory – 1.35     WB- 1.37

Average Days on Market- 24      WB- 27

Condo Ave Price- $596,433     WB – $617,126

Active listings- 180      WB – 185

Sold firm-27     WB –19

Months of Inventory – 1.63    WB- 1.69

Average days on market- 40      WB – 35

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