Week 8 – Will BOC pause rate or increase the rates?

  • 3 weeks ago

Hello everyone,

Welcome back to Week Eight of our weekly update – it’s back-to-school time, so things were pretty slow for the last week or summer.

This week, we’re keeping it brief, discussing the market and what’s coming up. Tomorrow, Bank of Canada makes a decision if they will pause rates or increase them, and we get August numbers from TREBB, so we’ll delve deeper next time.

We hope Bank of Canada will pause rates since GDP dipped in Q2. But remember what happened in January when rates were paused? Things got active. So, September will be interesting if they pause rates.

Now, onto the numbers. August is typically slow, so don’t read too much into it:

– Downtown surrounding areas: Prices flat, listings down, sold firm steady, months of inventory down.

– Downtown condos: Prices up, listings down, sales down slightly, months of inventory stable.

– Don Mills: One sale, listings down, months of inventory down.

– Leaside, Davisville, Mount Pleasant, Young: Prices up slightly, listings stable, months of inventory steady.

– Durham: Prices up a bit, listings down, overall pretty flat.

While August is relatively slow, there are still sales happening, especially in specific pockets. We’ll discuss August’s overall numbers and the Bank of Canada’s decision next week.

Thanks for following, and don’t forget to subscribe to our Youtube Channel and see you next week!

Have a great day!

 

WB- Week Before

Downtown & Surrounding areas 

Housing Average Price-$ 1,282,573    WB – 1,292,328

Active Listings – 431      WB-484

Sold firm –26      WB- 26

Month on inventory – 1.87         WB- 2.11

Average Days on Market-11       WB-11

 

Condo Ave Price-$831,257     WB- $750,247

Active listings-2,140     WB- 2,204

Sold firm-49     WB –63

Months of Inventory- 4.02    WB – 4.16

Average days on market-28         WB-25

 

Don Mills Area-  

Housing Average Price- $1,625,000    WB – 1,458,000

Active Listings – 43    WB- 50

Sold firm – 1      WB – 1

Month of Inventory – 2.32     WB- 2.66

Average Days on Market- 42      WB- 8

 

Condo Ave Price- $ 614,167     WB – $595,417

Active listings- 67      WB – 74

Sold firm- 3     WB – 6

Months of Inventory – 2.58    WB- 2.82

Average days on market- 25      WB – 47

Leaside, Davisville, Mount Pleasant, Young & Eg 

Housing Average Price- $2,287,500      WB – $2,006,000

Active Listings – 108     WB-110

Sold firm – 2       WB- 7

Months of Inventory- 2.21           WB- 2.24

Average Days on Market- 7   WB – 10

 

Condo Ave Price- $837,934      WB- $613,583

Active listings-258    WB-268

Sold firm-10       WB-10

Month of Inventory- 3.36     WB- 3.57

Average days on market- 21       WB – 22

Durham ( Pickering, Ajax, Whitby) 

Housing Average Price- $986,072    WB – $939,635

Active Listings – 1309    WB- 1381

Sold firm – 113      WB – 128

Month of Inventory – 2.07     WB- 2.18

Average Days on Market- 14      WB- 16

 

Condo Ave Price- $594,253     WB – $605,592

Active listings- 249      WB – 254

Sold firm- 15     WB – 14

Months of Inventory – 2.36    WB- 2.38

Average days on market- 14      WB – 26

Compare listings

Compare