By: Chris Dawson & Elizabeth Machula

Prices Explode

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

  The Supply / Demand ratio increased so much that it screwed up my nice graph. I had to push all the historical data and labels down just to make space for the spike we had last month. It's not so easy to understand what's going on in the market based on this graph. Let's also include more detail about both the supply and demand. On the demand side, we still have...Read More

By: Chris Dawson & Elizabeth Machula

Condo Prices Doubles Since 2005

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

The median price of a downtown condo returned to it's December peak of $485,000. More interesting this month is the average time a condo takes to sell. The average time over the past 12 years is 30 days on the market. Currently it's 17 days, which is the second shortest time we've seen in the past 12 years. Our personal experience is that we...Read More

By: Chris Dawson & Elizabeth Machula

Spring Market Already Sprung

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

It's very rare to see prices continue to climb into December like they did in 2016. Typically, prices peak during September/October and relax a little in December. It was caused by a shortage of condos available for sale. So what's happened is the opposite most expected about the construction boom of new condos going up in Toronto. Most people thought they were building too ...Read More

By: Chris Dawson & Elizabeth Machula

The Incredible Year of 2016

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

We never expected to see such a significant price increase like this. What caused it? What changed in 2016 from 2015 to have the condo market increase so much? The median price of a condo in December was a record setting $485,000. Compared to the December 2015 price of $400,000, it's a  year over year increase of 21%. Let's dig deeper into what may be behind thi...Read More

By: Chris Dawson & Elizabeth Machula

Breaking Records

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

The Supply Demand ratio has broken out to record levels, we've never seen this before. There are too few condos available for sale and lots of Buyers trying to secure a unit. This has pushed the market further into Seller's territory than we've ever seen. Most Novembers will have about 1000 suites for sale. This November we had only 496 available for sale, so the inventory...Read More

Imbalanced Condo Market

By: Chris Dawson & Elizabeth Machula

Imbalanced Condo Market

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

  Imbalanced Market The imbalanced market that began in June is as skewed as ever. Let's look at what's happening right now. Typically in October, about 350 condos sell. This October 500 condos sold. Most Octobers will have about 1200 suites for sale. This October we have 651 available for sale. So we have strong demand and low supply. When we divide the above two statist...Read More

By: Chris Dawson & Elizabeth Machula

Condo Prices Surge

Tags: Toronto Condo Market Statistics, Toronto Condo Report

Last month we focused on the shortage of condos available for sale and we predicted that we would see the impact of that statistic on prices this month and that's exactly what we've seen. The median price of a condo in September increased to $452,000 from $432,950 the month before. That's a significant jump and it's due to a lack of condos available for sale. There is ...Read More

By: Chris Dawson & Elizabeth Machula

Condo Shortage!

Tags: Toronto Condo Shortage, Toronto Condo Inventory

I know that this sounds ridiculous but it's true. With all the new construction of the past decade, so many towers going up... there just aren't enough condos in the resale market for sale. The typical August will have 1200 condos for sale in the C01 downtown district. The August number for 2016 was 763. That's unbelievably low and completely stunning to me. With all the new const...Read More

By: Chris Dawson & Elizabeth Machula

Condo Prices Up 8% Since January

Tags: Toronto Condo Prices, Toronto Condo Market Report, Toronto Condo Statistics

Last month we predicted that the unusually high number of Condo sales and shrinking inventory would continue to put upward pressure on prices and that's what we've seen. The Supply and Demand ratio was solidly in the Seller's Market, almost identical to the previous month's level. It's rare to see this ratio this high but when it is, it's followed by rising prices. What ...Read More

By: Chris Dawson & Elizabeth Machula

Indicator Signals Higher Prices Coming

Tags: Toronto Condo Prices, Toronto Condo Market Report

Last month I told you that a record month of condos sold in the month of May, 616 suites. Well, the month of June just broke that record as 681 condos were sold. This measurement is for the Downtown (C01) district. Here's the chart to show you how irregular this amount of sales: Obviously, when there's a spike in the number of condos selling, this lowers the supply available for sale. L...Read More