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Some relief in the Toronto Condo Market as new listings dropped 34.5% from last month while the number of sales remained fairly consistent. Thankfully getting some of the abundant inventory absorbed!

In a nutshell, the October numbers revealed continued price increases year-over-year, and, as for inventory, a decrease in the new listing category from month's prior. For condos this is good as it starts to taper off the inventory level.

September came in strong year-over-year with price increases across all property types in the City of Toronto yet seasonally continues leveling off with prices moving slightly downward month-to-month.

The strength in Toronto's real estate market for the average sale price continues with solid increases year-over-year, however, we are seeing that category experience slight decreases for all property types month-to-month.

For the first time in 5+ years freehold real estate takes centre stage over condos.

The pendulum continues to swing in a positive direction for the Toronto Real Estate Market with the release of June's numbers.

The pendulum has begun it's swing in Toronto Real Estate with May's numbers showing great promise.

In last month's market update I alluded to the numbers telling ONLY the beginning of a story yet to unfold, due to COVID-19 hitting mid-March, at a time when Toronto's real estate market was in over-drive. April 2020 numbers are in and while there's no BIG surprises, it's more telling than March was in terms of COVID-19's impact on Toronto real estate.

The global pandemic, COVID-19, was on the radar of most people around the world by mid-March. At the same time, the real estate market in Toronto was in over-drive. I've been anxiously awaiting the release of the numbers and now that they're in, I can tell you, they ONLY reveal the beginning of a story, that will no doubt continue to unfold in the coming weeks and months.

The Coronavirus has set in motion a global crisis that will no doubt leave it's mark on our World forever. It's incredible to see the vast majority of people doing all they can, recognizing we're in this together, and we will prevail. It's certainly changing the way business is conducted for it's NOT, business AS USUAL. Real estate services, at this time, have been deemed essential. Here's what that looks like.