The YEAR of the comeback.

By: Thomas Cook

The YEAR of the comeback.

In December sales were up 16.3% compared to last year with 4,399 houses and condominiums changing hands in all the districts.
Condo townhouse and high-rise suite sales were up by 6.8% with a 36.1% share of the market and 1,590 units being sold.
The December average sale price for all GTA homes came in at $837,788, up 11.8% from one year ago.
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of December compared to historical numbers was lower by a huge 35% compared to last year at this time.
This inventory imbalance is causing price increase in many, but not all, GTA districts.
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
In December that ratio finished at 59.4% - almost 27% above last year and the highest we’ve seen this year – indicating a continuing strong, steady market as we start to move into the 2020 spring market.
The days-on-market average for GTA / Toronto homes was 29 days, 5 days slower than November.

Here’s a snapshot summary of the significant real estate milestones for Toronto in December + Year-End 2019… with the highest appreciation rate so far in 2019!!

Watch the video to get the complete December 2019 Market Report details.

Here's the complete text version of the December 2019 Toronto Real Estate Market Report to read.

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