Week 34 – BOC Hold and market stats hold steady

Hey everyone! Hope you’re doing well. Welcome back to Week 34 of our weekly real estate recap.

We’ve got some juicy updates for you!

Firstly, a shoutout to all you amazing folks who tune in – your support means the world! And hey, if you haven’t already, show some love with a like or subscribe on our YouTube page!

Let’s dive into it

**First-Time Buyers Program Cancellation:**

– The government waved goodbye to a program aiding first-time buyers. Fear not – it wasn’t widely used.  Options like 5% down payment, land transfer rebate, and the first-time buyer savings account are still intact. Phew! Questions? Hit us up or talk to your mortgage broker.

**Bank of Canada Rates Hold Steady:**

– Rates holding tight! Inflation dipped a bit, but no rate changes yet. Predicting a summer move, so keep an eye on the market and inflation. Renewing your mortgage? Again chat with your broker for more info.

**Monthly Stats Unleashed:**

– Year over year, prices are flat, up 1%. Month over month, an 8% rise — typical January lull recovery. New solds? Up 17% YoY and 32% MoM. Things are starting to pick up as we have been seeing!

**Home Type Breakdown:**

– Detached homes holding steady. Semis and townhouses, a 5-6% bump YoY. Condos? Staying pretty flat over all, as we are seeing some interesting numbers with about 44% of condos listed today are vacant.

**Weekly Market Numbers:**

-Downtown vibes: Condo sales are starting to pick up; Freehold lasting 2-3 weeks.
Don Mills: Freeholds selling quick! Condos, not so much.
Leaside: Active listings steady; Freeholds on moving quick, selling within a week.
Durham: Keeping relatively flat overall, 2-3 weeks to sell.

That’s the recap roundup. Questions? Concerns? Hit us up anytime. Your journey to that dream home? We’re here for it! Have a fantastic day! Talk to you soon!

WB- Week Before

Downtown & Surrounding areas

Housing Average Price-$ 1,457,736          WB – 1,730,339

Active Listings – 421              WB-422

Sold firm -57                 WB-43

Month on inventory – 1.78                 WB- 1.78

Average Days on Market-18               WB-13

Condo Ave Price-$805,366                  WB-$741,507

Active listings-2049                  WB-2043

Sold firm-97                   WB-72

Months of Inventory-3.78                WB – 3.77

Average days on market-29            WB-32

Don Mills Area-

Housing Average Price- $1,579,376                 WB – $1,845,625

Active Listings – 56                     WB-57

Sold firm -9                    WB -8

Month of Inventory – 2.88                   WB-2.93

Average Days on Market- 8                   WB- 36

Condo Ave Price- $664,000                 WB – $690,250

Active listings- 75                 WB – 77

Sold firm-5              WB-2

Months of Inventory – 2.81                       WB-2.88

Average days on market- 20               WB – 14

Leaside, Davisville, Mount Pleasant, Young & Eg

Housing Average Price-$2,561,577                WB – $2,075,111

Active Listings – 88                    WB-85

Sold firm – 13                      WB-8

Months of Inventory- 1.81                 WB-1.75

Average Days on Market- 8               WB – 20

Condo Ave Price- $737,720                WB-$630,278

Active listings-290                  WB-271

Sold firm-16                 WB-9

Month of Inventory- 3.77                    WB-3.53

Average days on market- 21                 WB -54

Durham (Pickering, Ajax, Whitby)

Housing Average Price- $1,008,188        WB – $988,027

Active Listings – 989         WB-961

Sold firm – 175       WB-126

Month of Inventory – 1.53         WB-1.49

Average Days on Market-15     WB-13

Condo Ave Price-$623,732          WB – $602,481

Active listings-216          WB -217

Sold firm-23         WB -11

Months of Inventory – 1.95        WB-1.96

Average days on market- 24         WB -40

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