The best program for would be real estate buyers who are waiting to see what happens with the market.
If you or anyone you know are waiting to see what happens with the real estate market then this program is your key source of real estate market statistics and related information.
Please feel free to share this invitation to join this useful and informative program for anyone looking to become a well-informed real estate buyer in this market.
We are tracking all relevant real estate statistics so that you are the first to know when the market begins to shift. Taking this data driven approach will provide us and those who follow this program the ability to buy at the best possible time. Sourced from Statscan, Toronto Regional Real Estate Board and our own proprietary inventory tracking system, this program will ensure that those who opt in will be the best-informed consumers in the marketplace.
We have been keeping track of condo inventory in the downtown core every Monday for the past 10 years. Knowing how many properties are for sale and how that number relates to previous years is key to understanding market strength or weakness from the supply or "Seller's side". You will not get this information anywhere else. We will update you weakly with current numbers and the week over week change as well as data from pre-covid years 2018 and 2019.
Another key indicator of the strength of the market. An increase in this number indicates a weakening market whereas a decrease indicates the market is getting stronger.
Although this is not my favorite statistic as average price can be deceiving and it does not always tell the full story, it is somewhat relevant and should be considered. More importantly, we also include the number of sales and average price of most residential property types including detached, semi's, townhouses and condo apartments each month and the year over year difference which is useful information when looking at the demand or "buyers' side" of the equation.
A key indicator in the Bank of Canada's decision-making process when it comes to interest rate changes. It can be a lagging indicator and slow to adjust downwards but it is an important statistic when determining consumer confidence and market direction as related to interest rate changes from the Bank of Canada.
This is the number one issue right now for anyone looking to purchase. When is this rate hike cycle going to end is something everyone is waiting on. A pause in rate hikes may just be the signal some buyers are waiting for to build their confidence in the market and may the first indicator of the market turning the corner. We will keep you up to date with rate changes as they occur.
GDP growth year over year measures the strength of the Canadian economy and is the key economic indicator of recession. Current interest rates are designed to slow the economy and GDP growth so this is another important factor in the decision-making process at the Bank of Canada. It this number drops too much into recession then it should signal the Bank of Canada to begin dropping interest rates to stimulate the economy.
Localized data to help understand the health of the employment market in Toronto and the economic well-being of the city itself.
More localized data to help understand the overall economic well-being of the city.
With an unprecedented 500,000 newcomers entering Canada this year we know that the shortage of available housing is growing. Even at a time where real estate sales are down almost 50% monthly when compared year over year we are not seeing inventory accumulating on MLS and prices are not dropping much at all so no real change from the supply side which means the only thing that has changed is demand.
This is partly due to affordability but mainly due to consumer confidence and that can change very fast. Being the first to know and being able to take advantage of the market when it is at the bottom is the goal. Finding the right home can take months so waiting too long to start the process may lead you back into multiple offers and higher prices for desirable properties in good buildings or neighbourhoods. Like most investments, the most well-informed buyer who gets all of the key market information before anyone else is able to make the best decisions.