Over the past 12 months, the market has experienced noticeable fluctuations in average sold price, with trends hinting at both upward and downward movements when compared year-over-year. When comparing the latest month’s average sold price to the same month last year, the variation highlights evolving buyer sentiment—an essential indicator for pricing strategies. Trends in new listings, monthly sales, and active listings suggest that while some periods have seen a surge in buyer activity, others have experienced a pullback, influencing the overall market dynamics and drawing attention to the sold price-to-list price ratio and price change percentages over 1, 3, 5, and 10 years. This data empowers agents to judiciously position properties in a fluctuating but data-driven market environment.

Analyzing market supply and demand reveals that the balance between sales, new listings, and active inventory is critical for understanding months of inventory (MOI) and days on market (DOM). In recent months, a narrower gap between active listings and sales has translated to lower MOI and reduced DOM, indicating a competitive market that may drive prices upward. Conversely, periods where MOI and DOM were higher suggest a softness in the market, pointing to reduced buyer urgency and potentially downward pressure on prices. Considering these factors, the outlook remains cautiously optimistic, with trends suggesting that continued low inventory could sustain competitive bidding in the near term, though agents should prepare for potential adjustments if inventory levels widen in the coming months.

Read the full article on: Toronto Regional Real Estate Board