Market Update July 2017 - Mark Lebovits

Market Update July 2017

Market Update July 2017

**City of Toronto Real Estate Market Update**

In the month of July, we saw a significant slowdown in sales year over year (YoY) for all home types in Toronto. Condo Apartments displayed relative strength, when compared to all other housing types. Higher prices (+25% YoY) and a decline in overall resale inventory (-18% YoY) shows that there is still strong demand in the city’s condo market.

We are now beginning to see a buildup of detached and semi-detached housing inventory in some neighbourhoods across Toronto — still not nearly enough inventory to call it a ‘Buyer’s Market’. However, as we approach the Fall market, it will be interesting to see if those buyers who are taking a ‘wait and see’ approach will be met with a better buying opportunity than today.

If you would like more information on your neighbourhood, or a neighbourhood of interest, feel free to call, text or email me at anytime.