Market Update For The Week Ending December 12th - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale

Market Update For The Week Ending December 12th

16 December 2014
Bosley Real Estate

Here’s a little blast from the past. Back in the 80’s part of our beloved Gardiner Expressway has this awesome little dip right after the South Kingsway exit. If you were travelling west and going fast enough you could catch some serious air. We only mention it because, until it was repaired, it was a sure thing…just like the continued drop in new listings over the month of December.

After reviewing last week’s numbers we saw some very interesting trends. Sure new listings are down…way down, but so are sales. Now here’s the interesting thing; while there were 63 fewer new listings last week, there were only 36 fewer sales leading us to interpret that buyers are still out there but they are digging into the standing inventory more than ever before. The hottest sectors across the entire downtown core remain the first time buyers in the $400k to $700k range, where 46% are selling in multiple offers against an overall average of just 26%.

Like the freehold market, the resale condominium sector is following the same trends. New listings are down another 95 units last week (to a new historical low of just 375 for 2014) but sales are only off by 39 units from the previous week. Keeping in line with previous weeks, nearly 22% of sold units are happening at or above the list price. This tells us that the condominium market is generally healthier than it was at the top of the Spring Market. Of course all this news leads us to believe that the Spring Market is going to be very active.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto and Niagara-on-the-Lake since 1928. We have four centrally located offices and over 220 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately report on the true temperature of the real estate market.

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