Is the Toronto housing market picking up steam at an “uncomfortable” pace thatresembles  the  sky-high  gains  of  2016?  One  just  has  to  look  at  the  number  of multiple offers and wild bidding wars to know that demand is at an all time high.So  what  should  we  expect  as  we  move  forward?  Hopefully  as  we  start  movinginto  the  spring  market  many  agents  are  anxious  to  see  if  listings  will  become  more plentiful especially after this long family weekend. We as realtors continue to do what we always do. We perform our duties and forge ahead. Let us take thisweekend to be with family and see what next week brings us. Happy Family Day!

We have been collecting weekly sales data for awhile now and it is often fun tolook back a year and compare markets. For instance, last year at this time therewere 15% more freehold listings available throughout all neighbourhoods but sold properties were down 55% in 2019 at this time. The number of properties sellingat or above the asking price this year is at 62% compared to last year which was 58%.

The resale condo sector is following the same trends. New listings are down 18%than the same period last year but sales are up a whooping 62% more than lastyear at this time. And the number of condos sold at or above the asking price isstill at a high of 62%. The condo market has been traditionally reserved for first-time buyers, but as freehold home ownership becomes less affordable, we expecteven more activity in the condo market.