Bosley Real Estate Market Insight - November 29th, 2019 - Bosley Real Estate Ltd. Brokerage - Homes and houses for sale in Toronto including Cabbagetown, The Annex, Danforth Village, Lawrence Park and Riverdale

Bosley Real Estate Market Insight - November 29th, 2019

29 November 2019
Bosley Real Estate

MARKET UPDATE FOR THE WEEK ENDING NOVEMBER 29TH, 2019

As the calendar flips for the last time this year and we are less than a month shy of Christmas, it feels like we are all gearing up for the holiday festivities. Agents are busy sending out cards and calendars to clients and preparing to take some well needed time off. The offices are slowing down, listings are dropping off, but buyers haven’t completely disappeared. Real estate economists’ view of the market’s performance in 2019 is that it was a solid year. The year played out in dramatic fashion. We had a sluggish start in the beginning of the year but by spring and into the summer months, fortunes reversed and the market overall has been on something of a hot streak. And to brighten the picture even further, the housing outlook for 2020 is resoundingly positive!

The freehold sector in all neighbourhoods of the city saw a 4% drop in new listings last week. As December approaches we also saw a drop in sales by 4% for all freehold properties but the bidding wars are still happening with 54 per cent selling over the asking price.

Like the freehold market, the resale condominium sector is following the same trends. New listings are down 8% week-over-week, but sales were only down 5%. Condos that sold above their advertised price represented 46% of the total for the week and this is a number that has remained fairly consistent throughout the fall market.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake, Port Hope and Cambridge Ontario since 1928. We have four centrally located offices and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally 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 reflect the true temperature of the real estate market.

Here Are The Top Five Trending Stories Of The Week:



Canadian House Prices ‘Set To Surge’ In 2020, Forecasts Say

”Next year is looking bright for Canada’s housing markets ― maybe too bright, if you’re hoping for more affordable housing options.”




Want to snap up this $1M Toronto home? Opening bid is $119K — but there's a catch

“Imagine being able to buy a home worth nearly $1 million in one of the country's hottest real estate markets for a little more than $100,000. The only catch: You can't go inside the house before putting in your bid.”



Inside Prince's former Toronto home with the high-end real estate agent tasked with selling it

“Realtor Barry Cohen sits on a half-moon couch backed by a wall of mirrors in a large basement room with purple walls, purple shag carpeting and a pool table with purple felt rhyming off all the things his father taught him never to discuss with clients: religion, politics, sports and music.”




Toronto Home Prices To Rise By 6 Per Cent In 2020: Report

“A new report from Re/Max forecasts that home prices in the City of Toronto will rise by 6 per cent in the coming year..”



Zillow Plans to Do to Real Estate What Amazon Did to Retailing

“Zillow is in the midst of one of the biggest tech disruptions since Amazon started selling books online: Zillow is taking on the neighborhood real estate broker. Zillow Offers is part of its new strategy of flipping real estate. This new venture carries opportunities and risks. However, Zillow is one of the first companies to enter the sector and has an immense amount of data at its disposal.”