Toronto Housing Real Estate Market Prices | January 2019

Toronto Housing Real Estate Market Prices | January 2019


hey guys quite new in here would you
ever yeah real estate market update for December 2080 and in this video I’m
gonna go over what the numbers look like last month in the real estate market
here in Toronto this helps you keep a pulse on what’s happening here and how
it may affect you whether you buy sell it or investor first off I’m gonna compare last month’s
figures and then go over what the prices were like in January of 2018 and how it
compares to December so let’s get right into it so as you see December average
sales price drop down to nine hundred forty five thousand there is a monkey
increased by four days to 31 days sales dropped significantly to thirty one
thirty seven thousand active listings i eleven thousand months of inventory at
three months and new listing went up to forty three hundred so that’s a sixty
percent drop now that’s a pretty huge drop we are definitely seeing less
buyers out there especially during these holidays and the majority part is
because it’s just getting a lot more expensive and because of the stress test
so there’s a lot more harder to qualify for a mortgage and also we’ve had five
interest rate hike since 2017 so that’s gonna reduce significantly your buying
power with increasing housing prices more demand as applying in my opinion we
didn’t see more of the same in 2019 the Bank of Canada this month decided to
hold off with a rate increase and said their expectation of growth for 2019
will be a bit slower however I hope I’ve heard some of my lender partners that we
might get a rate reduction this year so we’ll see what happens so let’s compare
the year to year numbers December 2017 seven hundred thirty-four thousand this
year 750 so we grew by two point one percent days on market thirty-one sales
through thirty seven hundred so we got a big decrease to twenty down to 22
percent and I believe that beat that’s because last year we got the stress test
and the interest rate so a lot of buyers into the market Jones out the summer
time and there was a lot more activity than usual during that December of last
year active listings at eleven thousand months of inventory or three months of
inventory so still not mad at three months of inventory we’re still in a
seller’s market anything below four months of inventory
you’re looking at market new listing decreased 4300 so
here the year a year comparison detached home last year of December was about
nine hundred eighty nine thousand and dropped to 945 down
so that’s so that drop about four point four percent semi-detached seven to
thirty two thousand and a slight increase to over three percent to seven
hundred fifty five thousand thousand corner townhomes average price was five
hundred nineteen thousand last year and went up a little bit over nine percent
to five hundred sixty seven thousand as a big price go afraid their townhouse
average price was six hundred sixty three thousand last year and went up by
two point four percent six hundred to six hundred and seventy nine thousand
not not too bad over there condo apartments five million four thousand
last year and December of 2018 this just recently went up by almost ten percent
to five hundred fifty four thousand Soekarno apartments we saw the biggest
growth there so we’re seeing a lot of price growth in the five hundred to six
hundred thousand area and that’s where the vast majority of buyers are in so
what’s my prediction for 2019 we’re most likely gonna see more or less of what
happened in 2018 if the market does correct I don’t see a big correction
happening or the market crashing as I believe the market corrected itself in
2017 and we’ll probably see the same for
detached homes or maybe I’d be a bit of a reduction and probably not strong much
of a strong growth this year for the condo market
okay that’s it for this video if you like this video hit the like button
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watching and I’ll see you in the next video