Months of Inventory Toronto

Image Source: MoveSmartly (a great Blog, worth looking at regularly).

 

Throughout the year, Toronto’s real estate market has been lacking inventory. August was especially disturbing; in August Toronto was down to less than one month of inventory. To put that in perspective, Toronto has averaged 2.27 months of inventory in August of 2013 – 2015. Active Listings were down over 40% from August of last year.

Meanwhile, the number of sales this August increased 23% over August 2015. Substantially smaller inventory, significant increase in the number of sales…obviously, there’s an increase in the average price. Are you sitting down? According to TREB, the average selling price for all home types across Toronto increased 17.7% on an annual basis. Thinking of selling? Now is a great time - call us, we'd love to help!

A few questions:

- Why are less houses on the market when the price is at historic highs?

- Are there not enough 'down-sizers' to meet new demand?

- Are Baby-boomers holding on to their houses so their off-spring can get a place in the city?

According to Jason Mercer, TREB’s Director of Market Analysis:

"Population in the GTA continues to grow. The resulting growth in households coupled with favourable economic conditions and low borrowing costs means that we remain on track for another record year for home sales. Against this backdrop, TREB will also be releasing new third-party research, and consumer and REALTOR® survey results throughout the fall and winter, with discussions focusing on foreign buying activity and issues affecting the supply of ownership housing,"

Discussion and studies are helpful, but less effective when the necessary data is not analyzed because it isn’t collected. In the interim, I espouse further tightening of credit restrictions and the adoption of a foreign buyers’ tax. You can’t make people sell, but you can be a lot more careful about who gets a mortgage and who takes the risk when a mortgage is provided.

If you're thinking of selling, now is a great time! Give us a call...we'd love to help you.

Post CommentComments: 0Read Full Story
Categories: 111 Glen Road | 166 Douglas Drive | 188 Hudson Drive | 2 Orchard Green | 2 Roxborough #402 | 2 Roxborough Street East | 2014 to 2015 | 28 St Andrews Gardens | 314 Palmerston | 314 Palmerston Blvd | 51 Roxborough Drive | 85 Binscarth Road | 9 Jackes Ave | American Graffiti | April market report | Bennington Heights | Best time to list | Chic and stylish renovation | Collingwood Chalet | Coming Soon | Contemporary Luxury Real Estate | contemporary luxury real estate Toronto | Downsizing Tips | Exclusive Listing | Exclusive Rosedale Listings | Fall Market | February Market Report Toronto | Front Pad Parking in Toronto | Glengrove Ave | Globe and Mail Home of the Week | Green Home - Electrical | Heli-skiing, Cat-skiing, epic champagne powder | Home of the week | Homes and Cottages Magazine | Hot Toronto Condo | June Market Report | Just Listed | Lawrence Park South, Toronto C04 Real Estate | Listed by The Thompson Team | Location location location | March Market Report Toronto | Media and Toronto Real Estate | Modern Magazine | Moratorium on Parking | National Post | New Condo Listings | New Listing | New Listings vs Sales Price | New Mortgage Rules | Nice-Martin Magazine | Objekt Magazine | Objekt Magazine features 21 Buckingham | October Sales Increase 21% | Pied-a-Terre in Rosedale! | Post City Dream Home | Real Estate obsessed | Renovation Party | Revelstoke British Columbia | Revelstoke chalet for sale | Rosedale real estate | Rosedale-Moore Park, Toronto C09 Real Estate | Schools and Toronto Real Estate | September 2016 real estate numbers | Sold over ask | South facing Toronto lot | Sport Court | Spring 2016 Market | Spring Cl;eaning | Stunning Art Lovers Condo | Stunning Condo | Summerhill Condo For Sale | The Backyard | Thompson Team listing | Toronto April Market Report | Toronto Community Events | Toronto Economy | Toronto Events | Toronto Events June | Toronto events March | Toronto Events March April May | Toronto Events May | Toronto in International Media | Toronto Livable City | Toronto Luxury Real Estate | Toronto March Market | Toronto Market Report | Toronto Pan Am Games | Toronto Prices 5 years ago | Toronto real estate | Toronto Real Estate - Schools | Toronto Real Estate 2015 | Toronto Real Estate Market | Toronto Real Estate Market Report | Toronto Real Estate new listing increase | Toronto Real Estate Prices | Toronto Real Estate Stats | Toronto Residential Architecture | Toronto Schools - Public Vs Private | Toronto Spring Market | Toronto Summer Bliss | Toronto Tourism | Toronto Waterfront | Torontos Workplace | Waterfront Building lot close to Toronto | Wolf House