which is why Toronto has been better value compared to the burbs in the past few years. I have been eyeing Bayview area but haven’t had a chance to make the jump.holden wrote: ↑ So if I'm reading the latest TREB report correctly, detached homes in 416 for November averaged $1.56 million, which takes us back to March 2017 levels?
The peak seems to be February 2022 at $2.07 million, taking us at about 25% off peak.
OP was off about 5 years with the peak prediction, although we are now lower than that "false" peak.
Did we just hit the peak of the Toronto RE bubble?
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- Feb 3rd, 2023 4:08 pm
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- MrKuto
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- holden
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fdl wrote: ↑Updated
Data Source: http://www.trebhome.com/market_news/mar ... /index.htm
Edit: Updating to track averages
Average detached price in Toronto:
2015
Mid May: $1.141
End May: $1.115
Mid June: $1.070
End June: $1.051
Mid July: $0.999
End July: $0.996
Aug: $1.017
Sep: $1.053
Oct: $1.071
Nov: $1.018
Dec: $1.039
2016
Jan: $1.061
Feb: $1.211
Mar: $1.174
Apr: $1.257
May: $1.285
Jun: $1.259
Jul: $1.202
Aug: $1.206
Sep: $1.294
Oct: $1.303
Nov: $1.345
Dec: $1.286
2017
Jan: $1.336
Feb: $1.573
Mar: $1.561
Apr: $1.578<<< Peak
May: $1.503
Jun: $1.386
Jul: $1.304
Aug: $1.191
Sep: $1.355
Oct: $1.287
Nov: $1.276
Dec: $1.250
2018
Jan: $1.283
Feb: $1.282
So detached in the 416 is at $1.486 million for January 2023. Just ballparking but that's about 28% off Feb. 2022 peak in nominal terms and 34% off peak in real terms.holden wrote: ↑
So if I'm reading the latest TREB report correctly, detached homes in 416 for November averaged $1.56 million, which takes us back to March 2017 levels?
The peak seems to be February 2022 at $2.07 million, taking us at about 25% off peak.
OP was off about 5 years with the peak prediction, although we are now lower than that "false" peak.
Any chance we get to 2016 prices?
Last edited by holden on Feb 3rd, 2023 3:03 pm, edited 1 time in total.
- budwizestest
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Why 2016?
Just wait, we will.get to 2007 prices, after all interest rates are what they were in 2007 now
- jenneth
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2007, wages weren't higher.budwizestest wrote: ↑ Why 2016?
Just wait, we will.get to 2007 prices, after all interest rates are what they were in 2007 now
2007, we weren't paying 2 dollars per a litre of diesel
2007, we weren't short in menpower
2007, we weren't importing 500,000 people a year.
NOT A WOMAN. JUST GOT A WEIRD NAME. I AM A MAN. THANKS.
- budwizestest
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