December 2020 TREB report - Sales up 64.5% and prices up 11.2%

Looks like the so called condos are coming back didn't happen after all LOL. Looking forward to the cratering !

condodweller1 wrote: ↑ Looks like the so called condos are coming back didn't happen after all LOL. Looking forward to the cratering !

Last year Dec-Mar was crazy hot with 1.1 MoI for condos, everyone has said these months will look bad in comparison YoY. Just because it's not crazy hot like that doesn't mean it's not heating up. It took a global pandemic and offices, schools and tourism to bring condos down... checks notes, 4.7%. That's not even half the gain just from the 1 year prior at 10.3%.

What about MoM stats? Still down as I see it p

condodweller1 wrote: ↑What about MoM stats? Still down as I see it p

RE is seasonal, not many people listing prime units in December. What is selling now is stuff left over from fall that no one else wanted. Just like every year.

mazerbeaner wrote: ↑ RE is seasonal, not many people listing prime units in December. What is selling now is stuff left over from fall that no one else wanted. Just like every year.

Oh, so this year was not special? Or it was special until December? Seasonality applies as required to suffice your point of view?

If i were you, i would emphasize on overall yearly sales, this is were you see the major difference, even with the Covid special.

Isostar wrote: ↑ Oh, so this year was not special? Or it was special until December? Seasonality applies as required to suffice your point of view?

If i were you, i would emphasize on overall yearly sales, this is were you see the major difference, even with the Covid special.

What are you talking about? I never said RE is not seasonal.

When I was talking about listings falling it was listings RELATIVE to sales. Sales being up in December is a massive trend shift. MOI tanking is a massive trend shift.

mazerbeaner wrote: ↑ What are you talking about? I never said RE is not seasonal.

When I was talking about listings falling it was listings RELATIVE to sales. Sales being up in December is a massive trend shift. MOI tanking is a massive trend shift.

nevermind.... you have your mind set, nothing that can be said will have impact.

Isostar wrote: ↑ nevermind.... you have your mind set, nothing that can be said will have impact.

You don't even understand how crazy hot RE is going to be heading into fall.

Consider this.

7180 sales and only 7892 active listings

1.1 months of inventory for the entire GTA in all housing segments

Sales outpaced new listings by 1315

It's getting worse.

Where is the deferral cliff and flood of listings?

Huge difference in 905 .....

Condos will continue to crater lol. It's like the trend where people won't be going to gyms anymore.

this thread is a duplicate of greater-toronto-area-december-month-end-stats-2434731/

condodweller1 wrote: ↑ Condos will continue to crater lol. It's like the trend where people won't be going to gyms anymore.

So based in your logic, people are only going to live in SFH and wouldn’t step foot into a condo and would rather live in the streets. Reality check pal. People once completely priced out from SFH ownership will be drawn back to condos and this madness that you see happening for ownership with SFH will transfer towards the next best thing CONDOS. BTW aren’t you a condodweller?

Z07driver wrote: ↑ So based in your logic, people are only going to live in SFH and wouldn’t step foot into a condo and would rather live in the streets. Reality check pal. People once completely priced out from SFH ownership will be drawn back to condos and this madness that you see happening for ownership with SFH will transfer towards the next best thing CONDOS. BTW aren’t you a condodweller?

Honestly, the fact people think every other segment in every other part of the GTA can stay hot and people not get pushed down to condos is insane. 1 segment in 1 area is not going to drag down everything else. Even condos in the 905 are up.

Z07driver wrote: ↑ So based in your logic, people are only going to live in SFH and wouldn’t step foot into a condo and would rather live in the streets. Reality check pal. People once completely priced out from SFH ownership will be drawn back to condos and this madness that you see happening for ownership with SFH will transfer towards the next best thing CONDOS. BTW aren’t you a condodweller?

Not a condo dweller. I considered it but after researching - condos are the most overrated forms of housing.

condodweller1 wrote: ↑ Not a condo dweller. I considered it but after researching - condos are the most overrated forms of housing.

Housing value is relative to ones priorities. Making broad generalizations about it's value when everyone has different priorities is silly. If I want to live in harbourfront there are 0 other housing options, like literally houses do not exist there.

mazerbeaner wrote: ↑ Honestly, the fact people think every other segment in every other part of the GTA can stay hot and people not get pushed down to condos is insane. 1 segment in 1 area is not going to drag down everything else. Even condos in the 905 are up.

Exactly, thats what I don't get. All prices are relative to each other, sure in the short run, you may have a certain segment outperform the other. Right now, because of COVID, towns/semis/detached are outperforming condos, which isn't a surprise especially in the 416.

When people can't afford towns/semis/detached, they will have to settle for a condo. Also, COVID isn't going to be around forever.

Theres a place for every type of dwelling, at different price points. Everybody's preferences, situation, and budget is different.

condodweller1 wrote: ↑ Not a condo dweller. I considered it but after researching - condos are the most overrated forms of housing.

I’m sorry to say then that you’ve missed out on a great opportunity to build some easy equity.

condodweller1 wrote: ↑ Not a condo dweller. I considered it but after researching - condos are the most overrated forms of housing.

lol..

I don't live in condo, never have, and do not have the desire, but I understand the value of being able to walk to work, shops and attractions.
density is important for urban cores to thrive,