Toronto Real Estate Market Watch 01/20
he Seemingly Never-Ending Supply Issue
Quieter Decembers in real estate can account for skewed numbers with small data in year over year statistics…so don’t panic or celebrate just yet! For example, in December 2018 only one condo sold in the Beaches for $950,000 so of course more typical condos selling this year reflect a drop.
New listings in Toronto are still down more than 18% and active listings are down more than 35% – the full effect of supply and demand is forcing prices to soar almost 12% in Toronto’s property market.
Clients are looking to secure a buy before they want to sell, leading to a never-ending circle of lack of supply. If you are thinking about selling, but worried about finding a home as well, our clients have had great success finding the perfect home off-market through our network, knowledge of what is coming out beforehand and even knocking on doors to make it happen for them.
As we say, sometimes you have to make the market for your clients, not wait for it.