Real Estate

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

  • Last Updated:
  • Dec 5th, 2018 9:54 am
Member
Feb 13, 2018
439 posts
386 upvotes
This matches Vancouver and Australia very well
We all know what happens after the bounce.
Deal Fanatic
Feb 22, 2011
5892 posts
5594 upvotes
Toronto
rfdchan wrote:
Dec 5th, 2018 9:36 am
This matches Vancouver and Australia very well
We all know what happens after the bounce.
Prices have been trending up since last August, are you saying this is a 16 month bounce?

Did those places also have a 26% drop in new listings? As well as 2.6 months of inventory?
Sr. Member
Dec 30, 2012
900 posts
972 upvotes
Toronto
mazerbeaner wrote:
Dec 5th, 2018 9:38 am
Prices have been trending up since last August, are you saying this is a 16 month bounce?

Did those places also have a 26% drop in new listings? As well as 2.6 months of inventory?
Maybe not 2.6, but some Vancouver area municipalities (Burnaby, etc) had 3.5 MOI in January and now have 8-10 MOI.
Deal Fanatic
User avatar
Jun 26, 2005
9511 posts
1549 upvotes
Toronto
Maybe my simplistic logic is too simple, but doesn't lower sales and lower listings mean SUPPLY is low?

Demand, as far as i can gather is not dropping, and probably is rising. If that is true,

Supply low
Demand same or high
Price will increase

Simple Market behavior
Deal Fanatic
Feb 22, 2011
5892 posts
5594 upvotes
Toronto
civiclease wrote:
Dec 5th, 2018 9:44 am
Maybe not 2.6, but some Vancouver area municipalities (Burnaby, etc) had 3.5 MOI in January and now have 8-10 MOI.
Okay so not even remotely close when your best example is 35% higher and that is just one region compared to the entire city here, and then even shot up to 300-400% higher.

New listings last month were down 26%... active listings down 10%. This is 1.5 years since last years peak and after 5 hikes. Y'all need to give it up, market has normalized.
Sr. Member
Dec 30, 2012
900 posts
972 upvotes
Toronto
mazerbeaner wrote:
Dec 5th, 2018 9:48 am
Okay so not even remotely close when your best example is 35% higher and that is just one region compared to the entire city here, and then even shot up to 300-400% higher.

New listings last month were down 26%... active listings down 10%. This is 1.5 years since last years peak and after 5 hikes. Y'all need to give it up, market has normalized.
My point was that as seen in BC, inventory can explode in relatively short time frames. I'm not saying that's going to happen in Toronto. Nobody knows.
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Feb 9, 2009
7818 posts
4801 upvotes
civiclease wrote:
Dec 5th, 2018 9:44 am
Maybe not 2.6, but some Vancouver area municipalities (Burnaby, etc) had 3.5 MOI in January and now have 8-10 MOI.
Can’t compare Toronto to Vancouver.

Vancouver has many unique taxes that are not applicable to Toronto like empty home/spec tax, higher fbt, more tax on homes over 3 mil, etc — the govt there is trying to actively crash the market which will ruin their economy, just watch the downfall of Vancouver.

Toronto has Doug Ford and he isn’t going to tax nothing— in fact he still has things like eliminating foreign buyer tax in his back pocket ready to go of need be (but right now he doesn’t as the market in Toronto is sailing along just fine).

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