Real Estate

Locked: GTA November sales plummet 1,000 units or 15%!

  • Last Updated:
  • Dec 5th, 2018 9:54 am
[OP]
Newbie
Jan 19, 2018
61 posts
121 upvotes

GTA November sales plummet 1,000 units or 15%!

Sales drop from:
November 2015: 7,364
November 2016: 8,528
November 2017: 7,236
November 2018: 6,251

Sales for entire year:
Projected: 78,722
2017 actual: 92,263
2016 actual: 113,00
2015 actual: 101,000

You have to go back to 2008 to find sales so low.

Averages prices also drop from $807,000 to $788,000 but this is really just dependent on sales mix between condos and houses.
The terminated listing are do high as sellers are trying to come up with a strategy. Just use Bungol and take a look at terminations in the past 30 days...wow!
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21 replies
Deal Fanatic
Feb 29, 2008
8355 posts
3344 upvotes
Lol. She’s baaaaAAAAaaack.

Was this not the intention With B20? This is not a natural drop. It is a well orchestrated drop.
Sr. Member
Dec 30, 2012
886 posts
950 upvotes
Toronto
JayLove06 wrote:
Dec 5th, 2018 6:20 am
Lol. She’s baaaaAAAAaaack.

Was this not the intention With B20? This is not a natural drop. It is a well orchestrated drop.
Well the bubble inflation was orchestrated so what's the issue?

I guess nothing in any market sector on the planet is "natural".
Sr. Member
Mar 13, 2017
521 posts
645 upvotes
lydia82 wrote:
Dec 5th, 2018 5:44 am
Sales drop from:
November 2015: 7,364
November 2016: 8,528
November 2017: 7,236
November 2018: 6,251

Sales for entire year:
Projected: 78,722
2017 actual: 92,263
2016 actual: 113,00
2015 actual: 101,000

You have to go back to 2008 to find sales so low.

Averages prices also drop from $807,000 to $788,000 but this is really just dependent on sales mix between condos and houses.
The terminated listing are do high as sellers are trying to come up with a strategy. Just use Bungol and take a look at terminations in the past 30 days...wow!
Why not include the entire set of metrics?

Prices up 3.5% YoY
Listings down 26% YoY
Deal Fanatic
Feb 29, 2008
8355 posts
3344 upvotes
civiclease wrote:
Dec 5th, 2018 7:05 am
Well the bubble inflation was orchestrated so what's the issue?

I guess nothing in any market sector on the planet is "natural".
I think you're too far gone for any kind of attempt at reasoning. Your rent's going up, buddy.
Sr. Member
Dec 30, 2012
886 posts
950 upvotes
Toronto
JayLove06 wrote:
Dec 5th, 2018 7:20 am
I think you're too far gone for any kind of attempt at reasoning. Your rent's going up, buddy.
Are you annoyed because you can't reconcile loving government intervention for yourself but hating it for others?

Cognitive dissonance is intellectually uncomfortable.
Deal Addict
Jan 26, 2016
1284 posts
1022 upvotes
Toronto, ON
lydia82 wrote:
Dec 5th, 2018 5:44 am
Sales drop from:
November 2015: 7,364
November 2016: 8,528
November 2017: 7,236
November 2018: 6,251

Sales for entire year:
Projected: 78,722
2017 actual: 92,263
2016 actual: 113,00
2015 actual: 101,000

You have to go back to 2008 to find sales so low.

Averages prices also drop from $807,000 to $788,000 but this is really just dependent on sales mix between condos and houses.
The terminated listing are do high as sellers are trying to come up with a strategy. Just use Bungol and take a look at terminations in the past 30 days...wow!
What do you get from presenting parts of the facts and figures and clearly misleading conclusions?

As the article in post above says, sales are down because listings are down, and a fierce market is expected especially for condos and lower price markets.

It's not like the readership here will influence the market, so positing propaganda doesn't seem to be an effective tool for a certain agenda. If you did however post in Toronto Star I'd expect a small effect on public sentiment.
Deal Fanatic
Feb 29, 2008
8355 posts
3344 upvotes
civiclease wrote:
Dec 5th, 2018 7:27 am
Are you annoyed because you can't reconcile loving government intervention for yourself but hating it for others?

Cognitive dissonance is intellectually uncomfortable.
Apparently if you don’t agree with excessive intervention in one sector you must agree with it in every single sector.

Jesus Christ. Don’t even bother responding.
Sr. Member
Dec 30, 2012
886 posts
950 upvotes
Toronto
JayLove06 wrote:
Dec 5th, 2018 8:06 am
Apparently if you don’t agree with excessive intervention in one sector you must agree with it in every single sector.

Jesus Christ. Don’t even bother responding.
LOL. That made no sense.

In any case my position has always been clear and I've never deviated from it. Either ditch the government meddling from both sides of the housing equation, or keep it for both.

Have a nice day.
Member
Jun 1, 2017
416 posts
352 upvotes
please notice:
the number of new listings hitting the market also fell in November, down 26.1 per cent to 10,534 from 14,260 when compared with the same month last year.
"This suggests that, in many neighbourhoods, competition between buyers may have increased," said TREB president Garry Bhaura in a release. "Relatively tight market conditions over the past few months have provided the foundation for renewed price growth."
Sr. Member
Dec 30, 2012
886 posts
950 upvotes
Toronto
WinterSleep wrote:
Dec 5th, 2018 7:51 am
What do you get from presenting parts of the facts and figures and clearly misleading conclusions?

As the article in post above says, sales are down because listings are down, and a fierce market is expected especially for condos and lower price markets.

It's not like the readership here will influence the market, so positing propaganda doesn't seem to be an effective tool for a certain agenda. If you did however post in Toronto Star I'd expect a small effect on public sentiment.
I don't know if listings numbers have that much impact on sales numbers. If the demand was there the sales wouldn't drop and the lower listings would push up prices. Right now it seems to be a bit of a stalemate aside from downtown condos.

I do smile a bit when I think of the many realturds in Toronto eating cat food as their commission-based pay dries up. What will they do in this new era of low listings/low sales?
Deal Fanatic
Feb 22, 2011
5869 posts
5552 upvotes
Toronto
Lol new and active listings are down 10% and 26%....

People are doing exactly what I said they would, digging in.

Months of inventory is 2.6, if you are celebrating that you are funny.
Deal Fanatic
Feb 22, 2011
5869 posts
5552 upvotes
Toronto
neilsmith43 wrote:
Dec 5th, 2018 8:21 am
please notice:
the number of new listings hitting the market also fell in November, down 26.1 per cent to 10,534 from 14,260 when compared with the same month last year.
"This suggests that, in many neighbourhoods, competition between buyers may have increased," said TREB president Garry Bhaura in a release. "Relatively tight market conditions over the past few months have provided the foundation for renewed price growth."
Rates are up, it's expensive to move, people are digging in.

2.6 months of inventory.

It's been a year and a half since the crazy high spring of 2017, inventory has not built up. The correction was over last August.
Banned
Aug 3, 2005
1235 posts
1150 upvotes
Correction is over.

Back to the moon we are going (hopefully slowly this time)

sorry bears, another day, another L

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