Nicki Skinner

MARKET UPDATE FOR THE WEEK ENDING APRIL 22ND, 2016

27 April 2016
Nicki Skinner

Last week we reported that the number of new listings took a rather substantial dive. Well, this week listings are back up across the city by over 45% to 260 and are more in line with the previous few weeks. This is still well off the pace of last year`s 330 new listings. Not only is there a difference in the number of new listings but the makeup of those listings has changed dramatically too. Consider that we are recording a third fewer new listings in the entry level price range ($400k-$700k)


MARKET UPDATE FOR THE WEEK ENDING APRIL 16TH, 2016

21 April 2016
Nicki Skinner

The freehold sector produced some interesting revelations last week. While listings backed off by nearly 50%, sales across the 416 remained consistent with the previous week, as did the percentage of homes that sold over the asking price, 78%. Here are some interesting things we saw. First, four out of the ten homes sold in the $3M+ range in the central core had multiple offers. While that speaks directly to the health of the high-end market in the city, the entry level home ($400k-$700k) continues to be a challenge for first time buyers as 90% of homes sold in that range had multiple offers and sold over the asking price.


MARKET UPDATE FOR THE WEEK ENDING APRIL 8TH, 2016

12 April 2016
Nicki Skinner

After languishing at historically low listing levels, the freehold market took an 18.4% gain with a total of 277 new homes listed in the downtown core last week. Unfortunately the increased choice did not calm buyers as sales climbed by a remarkable 40.4% with nearly 79% of homes selling at or above the list price. In the east core, there were more sales than listings while the west core actually recorded fewer new listings on the market but a weekly increase in sales.


MARKET UPDATE FOR THE WEEK ENDING APRIL 1ST, 2016

05 April 2016
Nicki Skinner

The date may say April 1st, but let us be clear...there is no joke about the Toronto real estate market. Hold tight, the spring market, the season of multiple offers , is upon us. Buying a property these days requires nerves of steel and a determined constitution. For the next few months media outlets will be sharing stories of stunning wins and colossal losses. Get ready for Toronto's own version of "Game of Homes".