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T.O. condos for sale and for lease -stats, charts, heat maps

recharts said:
TO and GTA Stats and Sales 2013/08/15
http://recharts.blogspot.ca/2013/08/416905-condo-sales-and-stats-2013-08-14.html
http://recharts.blogspot.ca/2013/08/905-sfh-sales-and-stats-2013-08-14.html
http://recharts.blogspot.ca/2013/08/416-sfh-sales-and-stats-2013-08-14.html
Click to expand...



These heat maps (unless I'm missing something) while cool, only tell part of the story. I would be more interested in a heat map which compared a current sale to a similar unit a year or 6 months before. I get that properties selling for asking or over asking would mean they're hot, but really, selling under asking isn't uncommon at all and doesn't necessarily mean a negative.

For example, I sold my last house for 6,000 under asking price. It sold under asking, but that doesn't tell you the full story that it still sold for over 70k more than when I initially bought it just a couple of years earlier.

Am I making any sense?
 
shlammed said:
For example, I sold my last house for 6,000 under asking price. It sold under asking, but that doesn't tell you the full story that it still sold for over 70k more than when I initially bought it just a couple of years earlier.

Am I making any sense?
Click to expand...

Yep. That's why Teranet was born.
 
shlammed said:
These heat maps (unless I'm missing something) while cool, only tell part of the story. I would be more interested in a heat map which compared a current sale to a similar unit a year or 6 months before. I get that properties selling for asking or over asking would mean they're hot, but really, selling under asking isn't uncommon at all and doesn't necessarily mean a negative.

For example, I sold my last house for 6,000 under asking price. It sold under asking, but that doesn't tell you the full story that it still sold for over 70k more than when I initially bought it just a couple of years earlier.

Am I making any sense?
Click to expand...

Not entirely
If your property shows up on my list with lies, at the bottom of each 416 post (condos or SFHs) then I would say you sold after incurring some losses.
If the entire GTA (416+905) sells condos under asking with a regular 2% while SFHs resist in TO then I would say that we have an indicator.
I don't see why people wouldn't ask more for homes and sell above while they regularly ask for more (as you like to believe) for condos and they get less (-2% nearing -3% these days)
Common sense tells us that they all ask for more but they get less, significantly less.
In particular for condos where the sellers are in a difficult position these days I can't see why one would waste his time to ask for more when it is clear that the buyers have thousands of options
Be prepared for a condo blood bath :)
 
Last edited:
recharts said:
Not entirely
If your property shows up on my list with lies, at the bottom of each 416 post (condos or SFHs) then I would say you sold after incurring some losses.
If the entire GTA (416+905) sells condos under asking with a regular 2% while SFHs resist in TO then I would say that we have an indicator.
I don't see why people wouldn't ask more for homes and sell above while they regularly ask for more (as you like to believe) for condos and they get less (-2% nearing -3% these days)
Common sense tells us that they all ask for more but they get less, significantly less.
In particular for condos where the sellers are in a difficult position these days I can't see why one would waste his time to ask for more when it is clear that the buyers have thousands of options
Be prepared for a condo blood bath :)
Click to expand...


I was referring to all of real estate, not just condos. It may be different for SFH's in Toronto as there are fewer of them but it's not that common for SFH to go over asking in the 905.
 
shlammed said:
I was referring to all of real estate, not just condos. It may be different for SFH's in Toronto as there are fewer of them but it's not that common for SFH to go over asking in the 905.
Click to expand...

Here is the last set of sales for SFH in 905
Go back and check the other heat maps for 905 and their accompanying stats. You have 905 SFH going under the asking price in the majority of the cases.
Ex:
http://recharts.blogspot.ch/2013/08/905-sfh-sales-and-stats-2013-08-16.html

sold under 136
sold over 15
sold for asking 19

Note that this is an optimistic view
I do not bother to calculate the average % under the asking price using corrected values. That means that I should calculate that considering the fact that TREB's reports use the last listing price as reference while, as shown in the 416 sale reports, the property might have been discounted a couple of times before it sold for 100% for example
 
Above $1mil homes are selling now, the speculators are getting out of the market. Check the heat maps to see properties sold under the price of the area after months of sitting on the market. Expect one or two more months of average prices going up for Detached in 416
TO and GTA Stats and Sales 2013/08/22
GTACondos: http://bit.ly/14naSeH
905SFH: http://bit.ly/14naUTW
416SFH: http://bit.ly/14naUU2
 
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