July 2019

What do headlines referring to Real Estate tell us? 

Newspapers and reports read that sales and prices are up in July 2019. The reader has to understand that these numbers represent all of Toronto and all units sold ( condos, townhouses, semis, detached ).  If one does not have detailed information it is hard to understand what that really means. 

Example: 

Let's compare detached homes in the Central area. The Central area holds 14 different districts.  Only 4 of these 14 districts saw a price improvement. The same holds true for the number of sales - only 4 areas out of 14 saw more units sold in July than in June of this year. 

In Numbers (all of the Central areas) 

June 2019 - 280 detached homes sold with a median price of  $1,724,944

July 2019 -  214 detached homes sold with a median price of   $1,574,000

Now let's look at the condo market in the same area.

Out of 14 areas 10 area saw more units sold than the month before - so quite the opposite from the detached market. 

June 2019 - 966 condos sold with a median price of $625,000

July 2019 - 1,025 condos sold with a median price of $625,000

Should you live in the central area or are looking to purchase in the area you need to understand these numbers and not draw any conclusion from the headlines you read. 

As for the other areas, contact us and we  will inform you of the changes in areas you are interest in. 

Our contact info: mbrankovsky@hotmail.com       647-297-9700