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Toronto Real Estate Market Update – June 2020

Toronto Real Estate Market Update – June 2020

We dive into the stats/charts and graphs to help you understand what is happening in Toronto’s downtown ‘core’ neighbourhoods. Use this information and our market info to ensure that you feel comfortable buying/selling or leasing Toronto real estate.

Please feel free to jump to the segment/topic of interest based on the minutes below:

3:09 – Toronto Real Estate Board (GTA wide) stats

6:26 – Central Toronto Map Description

7:10 – Average Price Growth discussion (Detached/Semi/Row/Condo)

8:39 – 12 month rolling average price growth (all home types)

10:37 – Seasonal fluctuation of Average Home Price (graph – all home types)

12:28 – Average Home Price and number of sales (categorized based on price segment – ie. Under $600K, $600-$999K, $1mil – $1.5mil, $1.5-$2.5mil, $2.5mil+)

17:20 – Year-over-year number of sales (decrease) for all home types

18:12 – Year-over-year number of new and active listings (decrease) for all home types

21:14 – Months of Inventory (all home types) and discussion about ‘Balanced Market” inventory levels

24:33 – What Brandon is seeing on the resale market (as of June 11th, 2020) as the economy opens

26:12 – Central Toronto Zones (C01/C02/C03/C08/C09/C10) discussion on housing types/inventory

28:32 – Months of Inventory for different housing types in downtown core

30:00 – East end of Toronto (Leslieville/Riverside/Riverdale/East York/Beach) housing stats/charts and months of inventory

32:45 – New condo development discussion – appraisal challenges, premiums being paid and possible future issues

36:05 – Jason discusses mortgage rule changes coming into effect on July 1st, 2020 and possible impacts

38:50 – The mortgage deferral “Cliff”. What is going to happen when the deferral and stimulus packages end?

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Molly Gautreau

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