Condo Stats

12/30/2022

I was looking into rental listings within $2000 in Vancouver, to realize the dearth of affordable housing is that much more pronounced there.

MLS isn't used as much for rentals out west, so only 4 showed up. I divided that by the total # of listings and then did the same for 2 of the other major cities in Canada.

Almost HALF the rentals listed on MLS (46%+) in MTL are within $2000.

In Vancouver, this figure is but 1.4%.

02/23/2021

whaddup w/ the condo market right now?

downtown's down 13% yoy (or a whoppin' 19% from march's high, right before the covid effect)

markham & sauga paralleled this ...to a much lesser extent. down about 2.5% and 2% respectively yoy.

on the other hand though, nw SCARBOROUGH is UP (eyy) more than 5% yoy. Etobicoke & Vaughan up about 2.5% yoy too

www.condostats.com

02/17/2021

Love when people about my favourite neighbourhoods. Harbourfront, East Bayfront, Waterfront..whatever you want to call it. Queen's Quay baby from Bathurst through Parliament. The east side of it in particular has been poppin' with new developments over the past years and still has a long way to grow (despite the current hiccup that we've all grown tired of even mentioning at this pt).

How did Covid19 affect Toronto core's waterfront communities?

Prices are down about 9% year over year.

Condos that took 2.5 weeks to sell a year ago, take 4 weeks now.

With this surplus of inventory, there has been about 3x as many sales.

Is NOW a good time to buy in or will we see prices falling more throughout the year?

Depends on how we control the pandemic and return to a norm ..y'know, if we ever return to a norm 😅

02/17/2021

Snapshot of downtown for the past 7 years.

New listings have never been as high as they have been over the last quarters.

They haven't taken this long (~5 weeks) to sell in 5 years.

And ofc prices are averaging what they did about 3 years ago.

This is presumably due to the fact that not only have short term rentals declined significantly, but people don't need to work, and therefore live, downtown either. The rental market has been precarious with many landlords not receiving rent or being able to evict either. (Not to mention how untimely it is to share a couple of elevators with hundreds of people).

As things loosened up a bit in the summer, the market received an onslaught of condo listings -- effectively sn*******ng into this buyers' market.

While sales are up, they just aren't measuring up to the number of listings. However, there will be less new listings since evictions are restricted again - and then possibly a dramatic spike when that changes.
https://www.condostats.com/market-stats/

02/17/2021

So far this year, downtown Toronto condo prices are below 2018 prices.

The number of new listings are up significantly along with the number of days they sit on the market.

How do you think prices will fare by Spring? www.condostats.com

02/15/2021

Today, someone asked about 1 beds by Islington & Bloor et voila. 2 properties are listed right now at 480k and 515k. In the past 3 months, 12 sold for 486k in 22 days (on avg). That means prices are down 2.4% and taking 3 weeks+ or almost 3x as long to sell.

Expected since more people are heading towards houses away from the core during these Covid-19 induced WFH times.

Anyhoot, nothing likes better than breakin' down the market, specifically for you. Keep the Qs' rolling

02/14/2021

42% y'all.
Pickering.
Detacheds.

That's 364K UP in one year. On avg. Jan 2021 vs Jan 2020.

Kinda hard to believe the numbers I am typing out. That's more than the avg price of a WHOLE detached in Oshawa 7 years ago.

41% - Ajax. 39% Whitby. 36% Oshawa. etc.

Welps, that explains where some of Downtown Toronto condo prices chipped off. Check all the data viz' on the (East) Greater Toronto market over on www.condostats.com or Tableau:

https://public.tableau.com/profile/condostats #!/vizhome/January2021EastGreaterTorontoRealEstateMarket/Jan2021CondoStats

02/14/2021

If you've ever thought about buying a condo downtown but felt they were too expensive.

..this is the seesaw, the teeter totter of the residential real estate market. Swaying side to side, grounding each other, this is but the

09/10/2020

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