As of August 31, 2016, if no more properties came onto the Toronto housing market, it would only take just over a month to deplete the available supply. That’s according to a new report by Chestnut Park Real Estate. BNN speaks with a broker for the company, Justine Deluce.
As the holidays come to a close and we get back to work and our regular routines, I wanted to provide some context surrounding the turbulence we have experienced in the Toronto real estate market over the past eighteen months and some thoughts on what to expect in 2019.
In April, for the first time in several months, the number of new listings coming to market exceeded expectations. No doubt improved weather conditions were a major factor. In April 17, 205 new properties came to market, 8 percent more than the 15,933 that came to market in April last year. For the first time in many months buyers had choice that had previously been unavailable to them.