July real estate sales dropped 47.4% year over year, while prices inched up 1.2% year over year (but down 6.2% month-to-month). Although the months of inventory (MOI) trend came in at 1.2 months in July, the actual number of active listings (15,335) compared to sales (4,912) returns a 3.1 month of inventory when you’re not […]
Return to a Normal Real Estate Market?
The release of June 2022’s market watch by the Toronto Regional Real Estate Board saw sales drop 41.4% versus June of last year. New listings increased by 1% but this figure is overstated (more on that in a separate blog post). Active listings rose to 16,093, an increase of 42.5%. The average price climbed 5.3% […]
Sales Down 38.8% – Time to Buy?
“The real estate market is crashing!” — is what you see in headlines everywhere. Sales are down 38.8% year-over-year. Prices are down 9% month-to-month. The number of homes for sale is up 26% compared to last year. What buyers have long been waiting for has come: more listings, less competition, and… gasp… lower prices. So […]
Is the Real Estate Market Crashing?
It depends on what your definition of crashing is. Is a drop in sales a crash? How about prices? Before we jump to conclusions about what the market ‘might’ be doing, let’s look at some data to gauge where the market could be going. April sales dropped 41.2% but prices jumped 15%. Active listings were […]
Average Home Price Drops 2.6%
Last month I said prices wouldn’t drop because of interest hikes. Well… this month, prices did drop. Compared to February 2022’s average sale price of $1,334,544, March saw the average sale price drop 2.6% to $1,299,894. Compared to March 2021, the average price jumped 18.5%. So let’s set things straight. The price drop didn’t occur […]
- 1
- 2
- 3
- …
- 35
- Next Page »