By: Zan Molko

December 2018 - Year End

Tags: TORONTO REAL ESTATE MARKET TRENDS DECEMBER 2018

Toronto, 8 January 2019. As I welcome the new year, I feel that the winds of change are blowing as many pundits (I admit to being one) are touting the coming of the next industrial revolution or as it may become known as the “dawn of big data and Artificial Intelligence (A.I.).” Our industry, like many others, is undergoing fundamental change brought upon by technology and venture capitalists fighting for a piece of the over $4 trillion global real estate market. You can now get “sold” data online in Ontario, Zillow and others are invading our Canadian landscape, plus there is an excess of information to sort through and the year has hardly begun!

From our perspective, skilled and trusted advice will become even more relevant and sought after especially amongst the wise, non-do-it-yourselfers.

Contrary to what you may have read in the media, the Toronto Real Estate Market has followed the same trends in 2018 as it has done in the previous 21 years with two exceptions: the blip in 2008/2009 and the lack of supply aberration in early 2017. (Just follow the 2018 line in the graph below.) While there has been a moderation in the market, and it appears to have become more balanced, it is still a decidedly sellers’ market just as long as the sellers are realistic and not still living in April 2017! The sellers’ market still prevails mostly from a lack of supply. Inventory levels continue to be low in many neighbourhoods. And since there are over 400 unique “markets” within the GTA, there will always be a mosaic of hot, warm, and cool areas depending on how desirable a particular community may be. 
 
But what about those winds of change you may ask…

The chart below clearly indicates that at current inventory levels we are still in a seller's market. It is typical for this situation to remain until at least mid-February. If you are a seller, now is the time to put your home on the market. The Toronto market is long overdue for a shift and “shift happens.” Planning for your next real estate move should start now!  

If you need help navigating the real estate market or if you simply want to ask questions about real estate, mortgage financing, Investing or renovation, let's meet for coffee?
 

 

 

 

 

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