THE DAVISVILLE & LEASIDE INSIDER

THE DAVISVILLE & LEASIDE INSIDER

Friday, November 6, 2015

MARKET UPDATE FOR THE WEEK ENDING OCT 30th, 2015

With no distractions to stand in our way for at least the next month we knew that we would see a return to a more traditional fall market. Things got off on the right foot two weeks ago and the steady pace of more listings and sales has continued just as we predicted. With two months left in 2015 there is still plenty of transactions on the horizon and our research shows there are plenty of buyers waiting for the perfect home.

Freehold listings are up for the third week in a row reaching just shy of 400 units in the downtown core.  The single biggest growth segment being in the $1.5M- $3M price range in the central core. Overall, this represents just 4.5% fewer listings than the same week one year ago. While sales are also trending 8.7% higher than the previous week they aren’t as high as they were last year (200 compared to 229). Homes trading at or above the list price is at a very respectable 55%, well within the range we have seen for a strong fall market.

Following three straight weeks of falling resale condominium listings last week we witnessed a 14.4% spike in available units. The number of sales remained unchanged from the previous week (216) and the percentage of units sold at or above the list price was a very healthy 23.1%. The hot spot of the week was the $400k-$700k segment in the east core where over half the units sold at or above the list price. Overall, sales are up 13.1% more than a year ago.

Bosley Real Estate Ltd. is a full service boutique brokerage operating in Toronto, Niagara-on-the-Lake and Jordan, Ontario since 1928. We have four centrally located offices and over 240 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately report on the true temperature of the real estate market.

For information on selling or buying a home and/or condo and to discuss the current real estate market, contact me by email  or call me at 416-322-8000.

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