Nicki Skinner

MARKET UPDATE FOR THE WEEK ENDING MAY 27TH, 2016

31 May 2016
Nicki Skinner

The freehold market is once again feeling the pinch of tight supply. Consider that last year at this time, the downtown core had 476 available homes for sale. After ramping up at the beginning of the month, new listings have dropped by a marginal 2.5% to 316 while sales declined by nearly 73% (from 247 to 143 units). Most of this decline comes as a result of the recent long weekend; However, playoff fever has traditionally played a role in slower sales as well. With nearly 63% of homes selling at or above the list price it is clear that buyers are starting to adapt a more cautious attitude about entering into a multiple offer situation.


MARKET UPDATE FOR THE WEEK ENDING MAY 13TH, 2016

18 May 2016
Nicki Skinner

The freehold market recorded a solid 15.7% increase in new listings last week. Normally we would say that this was just what the doctor ordered. Unfortunately, that increase was overshadowed by a nearly 19% increase in sales with a strong 79% selling at or above the list price, the highest level in 2016 so far. The majority of the new listing activity came in the central core, while the hottest area for sales was in the east with nearly 87% of homes selling at or above the list price.


MARKET UPDATE FOR THE WEEK ENDING APRIL 29TH, 2016

05 May 2016
Nicki Skinner

Toronto's real estate market is hotter than the release of the new Drake album. Our recommendation is to get used to the "new normal" of low interest rates and tight supply. In our opinion, strong fundamentals for continued growth in the housing and condominium sector across the Greater Golden Horseshoe will continue for some time.