Winston Mak Sales Representative

Winston Mak Sales Representative

November 2019 Numbers Year Over Year - Huge Improvements!!

2019 sure has been a bounceback year for Toronto real estate! All statistics has consistently shown that sales and pricing have all increases when comparing month to month with 2018. With interest rates stabalizing and buyer confidence recovering, 2020 looks to be a pretty active year in terms of activity. For the month of November, we see here that the average days on the market (DOM) have dropped by 11% from last year and the number of active listings have also dropped. What we can see with this 27% drop is that homes are being sold at a quick rate and there's a shortage of inventory currently. What was mainly a buyer's market has slowly but surely becoming into a seller's market once again. 

My prediction for next year; I don't think the market is going to slow down the coming year and numbers definitely show this trend.

Let me know what you think everyone. 

 

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