Real Estate

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

  • Last Updated:
  • Jan 9th, 2021 10:47 pm
117 replies
Banned
Nov 3, 2020
15 posts
14 upvotes
Looks like the so called condos are coming back didn't happen after all LOL. Looking forward to the cratering !
[OP]
Deal Guru
Feb 22, 2011
10131 posts
12540 upvotes
Toronto
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%.
[OP]
Deal Guru
Feb 22, 2011
10131 posts
12540 upvotes
Toronto
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.
Deal Addict
User avatar
Jul 8, 2010
1405 posts
1098 upvotes
Ontario
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.
[OP]
Deal Guru
Feb 22, 2011
10131 posts
12540 upvotes
Toronto
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.
Deal Addict
User avatar
Jul 8, 2010
1405 posts
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Ontario
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.
[OP]
Deal Guru
Feb 22, 2011
10131 posts
12540 upvotes
Toronto
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?
Deal Addict
Jul 3, 2007
3317 posts
3645 upvotes
Toronto
Huge difference in 905 .....

Banned
Nov 3, 2020
15 posts
14 upvotes
Condos will continue to crater lol. It's like the trend where people won't be going to gyms anymore.
Newbie
Mar 23, 2017
18 posts
24 upvotes
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?
[OP]
Deal Guru
Feb 22, 2011
10131 posts
12540 upvotes
Toronto
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.
Banned
Nov 3, 2020
15 posts
14 upvotes
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.
[OP]
Deal Guru
Feb 22, 2011
10131 posts
12540 upvotes
Toronto
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.
Sr. Member
Jun 6, 2009
543 posts
110 upvotes
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.
Newbie
Mar 23, 2017
18 posts
24 upvotes
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.
Deal Fanatic
Mar 27, 2004
5338 posts
3255 upvotes
Toronto
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,
Full-time Realtor

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