Скачать или смотреть Toronto's Fall Real Estate Market - What to Expect this Season | Boots on the Ground

Welcome to our Boots on the Ground recap of Toronto's Fall real estate market! In our inaugural week, we've uncovered five key takeaways that are bound to grab your attention. From surprising economic shifts to intense bidding wars, we've got it all covered.

We start by discussing the recent GDP contraction and the Bank of Canada's surprising interest rate decision in September. Then, we take you on a journey through intense bidding wars for studio apartments and the frenzy of multiple offers on East End townhouses. We also uncover a unique trend: sellers adding personal letters to their property listings. Plus, we address crucial topics like housing affordability, immigration's impact, and the rising municipal land transfer tax for luxury homes. Finally, we explore the potential shift towards a more balanced property market. Our expert today, the host, Ian Busher (Broker and VP of Sales at Fox Marin), and joined by the expert panel, Kori Marin (Co-founder and Broker of Record at Fox Marin), and Ralph Fox (Co-founder and Broker of Record at Fox Marin).

0:00 - Introduction
1:58 - Contraction in GDP and Bank of Canada's Decision
7:56 - Bidding Wars for Properties
14:27 - Seller Letters as a New Trend
17:42 - Housing Affordability and Government Policies
24:10 - Inventory Levels in the Market
30:39 - Conclusion

Freehold Segment:
September 4th - September 10th: 634 Newly Contracted Freehold Listings
Last year at this time, there were 424 Newly Contracted Freehold Listings during the first week back post-Labour Day.
+39.6% more new HOME LISTINGS this year compared to last year.

First Week Back 2022 - 134 Reported Home Sales selling for $1.43M - 100% of the asking price
First Week Back 2023 - 82 Reported Home Sales selling for $1.67M - 102% of the asking price

Condo Segment:
September 4th - September 10th: 924 Newly Contracted Condo Listings
Last year at this time, there were 663 Newly Contracted Condo Listings during the first week back post-Labour Day.
+32.8% more new CONDO LISTINGS this year compared to last year.

First Week Back 2022 - 227 Reported Condo Sales selling for $872K - 98% of the asking price
First Week Back 2023 - 131 Report Condo Sales selling for $786K - 100% of the asking price

Absorption Rate
= Active Listings / Number of Transactions

Seller’s Market - Under 4 Months
Balanced Market - 4-6 Months
Buyer’s Mark - Over 6 Months

Current Absorption Rate = 2.92 Months of Supply
Last Year (August 2022) = 2.238 Months of Supply

Source: TREBB

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