11/27/2017
A return to a Balanced Market - across housing types!
After a summer of slumping sales and prices, it seems Toronto’s housing market has finally balanced out. Ontario’s Fair Housing Plan in April saw Toronto’s sales plummet.
Now, months later, they’re starting to edge back up again.
Why?
The Act doesn't deal with the real fundamental issues facing the GTA, I believe the changes are only temporary relief.
What’s going on here: GTA home prices are starting to edge back up after a serious summer drop.
Take a look at the chart -
A sales-to-new-listings ratio of between 40 to 60 per cent is considered a balanced market. Here, the ratio of different Toronto property types is tracked over the last two years.
The takeaway: late-2016 and early-2017 saw a dramatic shift towards a sellers’ market in Toronto,
November 2017’s ratio is much more balanced.
Semi-detached houses, condo apartment and condo townhouses all have ratios that indicate a balanced market,
while the detached houses ratio has dipped to become a Buyers’ Market.