Welcome to Week Seven of our Team Compton weekly update.
As summer draws to a close, we’ll keep this brief. Back-to-school time is upon us – a mix of excitement and fresh beginnings.
Let’s dive into the market briefly before we cover specific areas: Downtown surroundings, Don Mills, Leaside, Mount Pleasant, Young and Eglinton, Davis, and now Durham – Pickering, Ajax, and Whitby.
A recent headlines about prices dipping dramatically might be concerning to those looking to sell, but it’s part of the broader picture. The Bank of Canada is making moves to stabilize the economy, and these adjustments are expected. While not easy, they’re necessary.
Marketwise, we’ve likely hit the peak in May. Prices may fluctuate, but remember, it’s a long-term game. If Bank of Canada’s brings positive news in the coming months, next year, might trigger another surge.
Downtown surroundings areas saw prices dip, with active listings flat. Condo market saw fewer sales, with active listings down, but terminations are also pretty high.
Don Mills showed lower prices, some increase in active listings, and months of inventory rising slightly.
Leaside saw prices rise, active listings decline, and months of inventory dipped.
Our new Durham addition showcased prices above $900K, active listings up, and sales down.
An interesting number that also caught our eyes is, about 25% of listings are likely to sell each month while we are in this current market envoirnment. Pricing and presentation are key.
If you have queries about specific areas or home types, we’re here to help. We’re committed to improving these updates and value your support.
Stay tuned and subscribe. Thanks a lot, and have a fantastic day!
WB- Week Before
Downtown & Surrounding areas
Housing Average Price-$ 1,292,328 WB – 1,556,764
Active Listings – 484 WB-486
Sold firm –19 WB- 26
Month on inventory – 2.11 WB- 2.05
Average Days on Market-11 WB-15
Condo Ave Price-$ 750,247 WB- $831,047
Active listings-2,204 WB- 2,260
Sold firm-63 WB –72
Months of Inventory- 4.16 WB – 4.26
Average days on market-25 WB-24
Don Mills Area-
Housing Average Price- $1,458,000 WB – 2,124,384
Active Listings – 50 WB- 48
Sold firm – 1 WB – 6
Month of Inventory – 2.66 WB- 2.56
Average Days on Market- 8 WB- 4
Condo Ave Price- $ 595,417 WB – $687,500
Active listings- 74 WB – 78
Sold firm- 6 WB – 2
Months of Inventory – 2.82 WB- 2.97
Average days on market- 47 WB – 16
Leaside, Davisville, Mount Pleasant, Young & Eg
Housing Average Price- $2,006,000 WB – $1,562,000
Active Listings – 110 WB-120
Sold firm – 7 WB- 5
Months of Inventory- 2.24 WB- 2.44
Average Days on Market- 10 WB – 11
Condo Ave Price- $ 613,583 WB- $597,800
Active listings-268 WB-271
Sold firm-9 WB-10
Month of Inventory- 3.57 WB- 3.61
Average days on market- 22 WB – 23
Durham ( Pickering, Ajax, Whitby)
Housing Average Price- $939,635 WB – $978,060
Active Listings – 1381 WB- 1021
Sold firm – 128 WB – 179
Month of Inventory – 2.18 WB- 1.61
Average Days on Market- 16 WB- 15
Condo Ave Price- $ 605,592 WB – $662,628
Active listings- 254 WB – 178
Sold firm- 14 WB – 18
Months of Inventory – 2.38 WB- 1.6
Average days on market- 26 WB – 17