We are excited to share with your a new series of Executive Summary market reports courtesy our financial partner, Outline Financial. These reports summarize and simplify real estate listings and sales data and are available for almost all area and zones across the GTA.
We will be providing you with these Executive Summaries on a regular basis moving forward. Below you will find the November reports along with an overview of what is included in each.
Each Executive Summary Report is for a specific TRREB zone combination and includes a map of the included zones and a 1 page summary for each property type (detached, semi-detached, townhomes, condos) The Information / statistics you can find in each Executive Summary Report include:
Data comparing the – 1, 3, 5 and 10 year sales averages.
Stats categories – Sales, New Listings, Active Listings, Average Price, Months of Inventory (MOI), Sales to New Listing Ratio (SNLR)
November Market Stats
Sales Volume / Number of Sales
905 Detached sales were up +34% // 416 Detached sales were up +19%
905 Semi-Detached sales were up +33% // 416 Semi-Detached sales were up +36%
905 Condo sales were up +23% // 416 Condo sales were up +1%
In summary, demand for detached properties continues to heat up particularly in the 905 areas. Demand for condos are slowing in the 416 areas particularly in the downtown core.
905 Detached prices were up +19.2% // 416 Detached prices were up +8.7%
905 Semi-Detached prices were up +16% // 416 Semi-Detached prices were up +8.8%
905 Condo prices were up +4.8% // 416 Condo prices were down -3%
In summary, prices for detached properties were up significantly year over year, with the 905 leading the charge. While condo prices were up slightly year over year in all areas, they were actually down by -3% in the “Core 416” areas. We expect this general trend to continue into the start of next year as the large amount of supply for condos and lack of short term demand make it a buyers market.
One thing to note about the “average” pricing for condos however is that the increase in volume of condo sales in the 905 (which typically sell for less than in the 416) placed a downward pressure on the overall average sales price of condos.
Download the full local summaries through the links below. Please note we also have even more local reports which are available by request!
If you have any other questions about the market, please reach out anytime!