Real Estate

November end month stats

  • Last Updated:
  • Dec 3rd, 2020 10:06 am
[OP]
Deal Addict
Mar 20, 2017
1325 posts
1111 upvotes

November end month stats

Average condo price in Toronto is now cheaper than a year ago.

15 replies
Newbie
Apr 24, 2017
45 posts
75 upvotes
Nothing surprising, however I feel like I should've waited before buying a 2 bedroom DT.
Deal Addict
Jan 15, 2010
1108 posts
1299 upvotes
Toronto
Prices down with sales flat. I swear the sales numbers reported don't seem to match the actual number I see when browsing the sales day after day.

House Sigma shows ~650 condo sales in November, Condos.ca shows ~810. This report says 1300+.
Last edited by DaMan12 on Dec 1st, 2020 2:37 pm, edited 1 time in total.
[OP]
Deal Addict
Mar 20, 2017
1325 posts
1111 upvotes
DaMan12 wrote: Prices down with sales flat. I swear the sales numbers reported don't seem to match the actual number I see when browsing the sales day after day.
Such early reporting based on MLS Sold Stats usually has less than 10 sales difference with Market Watch reports.
You may be working with micro market that has its unique specifics.
Penalty Box
Apr 29, 2010
568 posts
926 upvotes
GTA
These are only condo stats. What about detached?
Deal Addict
User avatar
Jul 8, 2010
1405 posts
1098 upvotes
Ontario
lolbeast wrote: These are only condo stats. What about detached?
picture in first post has details for all housing types.
[OP]
Deal Addict
Mar 20, 2017
1325 posts
1111 upvotes
DaMan12 wrote: Prices down with sales flat. I swear the sales numbers reported don't seem to match the actual number I see when browsing the sales day after day.

House Sigma shows ~650 condo sales in November, Condos.ca shows ~810. This report says 1300+.
Image
Deal Fanatic
User avatar
Sep 8, 2007
9004 posts
10280 upvotes
Way Out of GTA
Toronto condo prices down a whooping 3% year over year in one of the greatest disruptions in our lifetime. And that’s after being up like a rocket ship years prior. If you can’t handle a 3% drop after so many years ownership or investment simply isn’t for you.

Wait until next month to see the month over month drop in MOI for condos. Those waiting for prices to crater are in for a rude awakening.

Now with lower interest rates, falling MOI and prospects of a return to normal growing for next year....I certainly would be looking to buy now. Especially if looking to live in since you’re not that concerned with getting the absolute bottom.

Lol I remember in March in the stock forums (they lurk here also) telling us it was too early to buy and then THEY would know when it hits the bottom. Most of those types are still sitting on that cash and angrier than ever. Remember them @Sanyo ?
9E110A79-61B4-46CA-BFEC-77876CA83208.jpeg
Deal Addict
Jan 15, 2010
1108 posts
1299 upvotes
Toronto
House Sigma still only shows 686 sales, and condos.ca shows 965 sales. I would love to see these mysterious 500 other sales. I wonder if it's conditional sales not shown on those sites yet?
[OP]
Deal Addict
Mar 20, 2017
1325 posts
1111 upvotes
DaMan12 wrote: House Sigma still only shows 686 sales, and condos.ca shows 965 sales. I would love to see these mysterious 500 other sales. I wonder if it's conditional sales not shown on those sites yet?
MLS Sold Stats in those 1375 are only firm unconditional deals.
Later they may be slightly reduced if one or two deals fall through even from firm status, but it's a tiny fraction.
It is really hard to guess what is wrong with websites you mention. Can be wrong algorithms or they don't run sync daily. Such questions should be addressed to site owners.
Deal Addict
Jan 15, 2010
1108 posts
1299 upvotes
Toronto
GalvToronto wrote: MLS Sold Stats in those 1375 are only firm unconditional deals.
Later they may be slightly reduced if one or two deals fall through even from firm status, but it's a tiny fraction.
It is really hard to guess what is wrong with websites you mention. Can be wrong algorithms or they don't run sync daily. Such questions should be addressed to site owners.
When do conditional sales get added into the stats? Because if that's the case, the end of month stats will always be skewed high as conditional sales are the ones more likely to be lower, under list etc...
Member
Oct 29, 2015
297 posts
126 upvotes
cartfan123 wrote: Toronto condo prices down a whooping 3% year over year in one of the greatest disruptions in our lifetime. And that’s after being up like a rocket ship years prior. If you can’t handle a 3% drop after so many years ownership or investment simply isn’t for you.

Wait until next month to see the month over month drop in MOI for condos. Those waiting for prices to crater are in for a rude awakening.

Now with lower interest rates, falling MOI and prospects of a return to normal growing for next year....I certainly would be looking to buy now. Especially if looking to live in since you’re not that concerned with getting the absolute bottom.

Lol I remember in March in the stock forums (they lurk here also) telling us it was too early to buy and then THEY would know when it hits the bottom. Most of those types are still sitting on that cash and angrier than ever. Remember them @Sanyo ?

9E110A79-61B4-46CA-BFEC-77876CA83208.jpeg
I find it super fascinating how the 905 area condos held up.
Despite some terrible projects launching this year.
[OP]
Deal Addict
Mar 20, 2017
1325 posts
1111 upvotes
DaMan12 wrote: When do conditional sales get added into the stats? Because if that's the case, the end of month stats will always be skewed high as conditional sales are the ones more likely to be lower, under list etc...
I don't think data quality suffers. Such sales are counted the moment when they become firm, mostly the following month.
TRREB has it all explained in small font at the end of Market Watch.
Image
Banned
Jul 23, 2020
473 posts
414 upvotes
cartfan123 wrote: Toronto condo prices down a whooping 3% year over year in one of the greatest disruptions in our lifetime. And that’s after being up like a rocket ship years prior. If you can’t handle a 3% drop after so many years ownership or investment simply isn’t for you.

Wait until next month to see the month over month drop in MOI for condos. Those waiting for prices to crater are in for a rude awakening.

Now with lower interest rates, falling MOI and prospects of a return to normal growing for next year....I certainly would be looking to buy now. Especially if looking to live in since you’re not that concerned with getting the absolute bottom.

Lol I remember in March in the stock forums (they lurk here also) telling us it was too early to buy and then THEY would know when it hits the bottom. Most of those types are still sitting on that cash and angrier than ever. Remember them @Sanyo ?

9E110A79-61B4-46CA-BFEC-77876CA83208.jpeg
Stocks dropped 50% off peaks. Condos have dropped 3%. How are the two even comparable? Condos haven't even really dropped, let alone crashed like stocks in Q1.
Last edited by sooonk on Dec 3rd, 2020 10:06 am, edited 2 times in total.
Deal Addict
Jan 15, 2010
1108 posts
1299 upvotes
Toronto
GalvToronto wrote: I don't think data quality suffers. Such sales are counted the moment when they become firm, mostly the following month.
TRREB has it all explained in small font at the end of Market Watch.
Image
Ohh, that likely also explains the difference in the sales #s as well, as a portion of each months sales actually end up getting counted in subsequent months.

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