March 2020 #Toronto #RealEstate market charts are up, with accompanying blog post of trends/highlights. As per usual a couple of bonus charts in this thread. /1 https://areacode416homes.com/march-2020-charts-well-that-changed-quickly

March is a mixed-up month. Even TRREB pointed out how sales volumes were in the first 2 weeks and in the rest of the month. In this weekly look you can tell how far above 2019 416 Condo transactions were - until the week of Mar 16-22 when they trailed off. /2

And here's for 416 Freeholds. Same story. Week of Mar 9-15 was 65% YoY, last week was 55% (though falls mostly in April). Anyway, the total of March was up volume-wise vs. 2019 but April will be a different story. /3

Rolling 12 month volumes for condos and freeholds were slowly climbing back from 2018 lows, but it's going to be very quiet the next few months so expect these to start sliding down again. /4

As some heat comes off Toronto market, we'll see a lot less "sold over asking" deals as sellers are employing that strategy less since it's harder to get people through to view properties. I've already seen these numbers trending down on a weekly basis. (Look 4 update tmrw) /5

Just remember we're starting from really low inventory levels - especially in condos (42% less than 7-year average) and we're deep in seller's market territory, so it's not going to flip to buyer's market in an instant. /6

Blog asks "What will happen with prices?" and you'll be able to link to the full set of market charts I do monthly (some of which are excerpted above). Thanks for reading! /7