abrakadabr17 (abrakadabr17) wrote in torontoru,
abrakadabr17
abrakadabr17
torontoru

New Toronto housing data: prices -6% MoM

The price drop is pretty much the typical seasonal change.

http://www.trebhome.com/market_news/market_watch/2017/mw1707.pdf

Take a look at the Selling Price to Asking Price ratio: it's now 98% everywhere and 96-97% in the North (Innisfill/Newmarket), where people are getting more desperate. Everything is selling below asking.

A year ago it was 107-110%.

How low will the prices drop?

UPD.:

Another thing that might be cool to see is how the number of listings grows compared to the prev. year (2016):

APR  | MAY   | JUNE  | JULY
+3%  | +42% |  + 59%|  +65%

Now, all these guys (65% more than normal - last year) will be trying to close the position before the Winter comes (otherwise they'll be forced to wait one more year). Note, that those 65% only account for people who maintained their listing and didn't delist to relist later on (after the seasonal drop) in Sep.  
Tags: real estate
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