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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">https://areacode416homes.com/march-202...
March is a mixed-up month. Even TRREB pointed out how sales volumes were 
https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Upwards arrow" aria-label="Emoji: Upwards arrow"> in the first 2 weeks and https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Downwards arrow" aria-label="Emoji: Downwards arrow"> 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
in the first 2 weeks and https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Downwards arrow" aria-label="Emoji: Downwards arrow"> 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" title="March is a mixed-up month. Even TRREB pointed out how sales volumes were https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Upwards arrow" aria-label="Emoji: Upwards arrow"> in the first 2 weeks and https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Downwards arrow" aria-label="Emoji: Downwards arrow"> 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" class="img-responsive" style="max-width:100%;"/>
And here& #39;s for 416 Freeholds. Same story. Week of Mar 9-15 was https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Upwards arrow" aria-label="Emoji: Upwards arrow">65% YoY, last week was https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Downwards arrow" aria-label="Emoji: Downwards arrow">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
65% YoY, last week was https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Downwards arrow" aria-label="Emoji: Downwards arrow">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" title="And here& #39;s for 416 Freeholds. Same story. Week of Mar 9-15 was https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬆️" title="Upwards arrow" aria-label="Emoji: Upwards arrow">65% YoY, last week was https://abs.twimg.com/emoji/v2/... draggable="false" alt="⬇️" title="Downwards arrow" aria-label="Emoji: Downwards arrow">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" class="img-responsive" style="max-width:100%;"/>
Rolling 12 month volumes for condos and freeholds were slowly climbing back from 2018 lows, but it& #39;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& #39;ll see a lot less "sold over asking" deals as sellers are employing that strategy less since it& #39;s harder to get people through to view properties. I& #39;ve already seen these numbers trending down on a weekly basis. (Look 4 update tmrw) /5
Just remember we& #39;re starting from really low inventory levels - especially in condos (42% less than 7-year average) and we& #39;re deep in seller& #39;s market territory, so it& #39;s not going to flip to buyer& #39;s market in an instant. /6
Blog asks "What will happen with prices?" and you& #39;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
