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

By: Chris Dawson & Elizabeth Machula

Most Condos Sold In 1 Month... Ever!

Tags: Toronto Condo Market Statistics, Toronto Condo Report

This spring market is proving to be full of surprises. There was an all time record for the number of condos sold in the Downtown (C01) district. There is usually about 400 condos sold in the month of May on any given year. In 2016, there were 616 condos sold! You can see how irregular that is on the graph below showing the last 11 years of Condos Sold per month. As expected, having so many con...Read More

By: Chris Dawson & Elizabeth Machula

Condo Prices Spike

Tags: Toronto Condo Prices 2016, Condo Statistics 2016

Condo Prices Spike We weren't expecting to see this happen this spring. The median price has been hovering around $400k for the past year. This spiked to $427k in February. As you can see on the chart below, how unusual it is to have a price jump 5% in a single month. The supply demand ratio also shows a noticeable increase closer to a Sellers market territory. If this remains at this level...Read More

By: Chris Dawson & Elizabeth Machula

Negative Interest Rates? Cashless Society?

Tags: Toronto Condo Market, Negative Interest Rates, Cashless Society

I've never tried writing science fiction but this newsletter will probably be the closest I'll come. I don't blame you for being skeptical and finding this incredulous, but before you dismiss this topic, you should know Negative Rates have been studied and declared a possibility by the Bank of Canada if required. First, the monthly statistics. The median price was relatively flat at...Read More

By: Chris Dawson & Elizabeth Machula

2016 Condo Predictions

Tags: Condo Market Report

We dread making predictions because it's impossible to know what's really going to happen but we understand why it's everyone's first question for us. We base our predictions on current market conditions and trends. We're the first to admit our predictions tend to be cautious and dull. We're not trying to make headlines but give you sound advice. We feel it's impo...Read More

By: Chris Dawson & Elizabeth Machula

Unbelievable Home Price Growth

Tags: Toronto Condos Vs Home Prices

While condos have shown very modest and sustainable growth, detached homes have been on a tear since 2012. First, let's review the key condo indicators for last month. The median condo price held at $395,000 and the average days on market was typical at 29 days. The Supply / Demand ratio is holding at the same level for the last 2 years predicting relatively fla...Read More

By: Chris Dawson & Elizabeth Machula

Record Breaking Condo Prices

Tags: Toronto Condo Market Report

The median price of a downtown condo for the month of July was the highest it's ever been at $405,000. Also very significant is the number of condos sold in July was the second highest we've ever seen as you can see in the graph below. (C01 district). The supply/demand ratio has pushed higher, getting a little closer to favour a Seller's Market. The most interesting c...Read More

By: Chris Dawson & Elizabeth Machula

Trying To Time The Market

Tags: Toronto Market

  Toronto's last significant Real Estate price crash started in 1989 and ended in 1996. There was 7 years of falling prices, that's hard to imagine as anybody under 45 years old living in the city hasn't experienced that. I talk with older agents who lived and even worked through that time and they all say how hard and awful it was as so many people lost money and had financ...Read More