July 2018 market stats are in for the four major Canadian real estate markets – Toronto, Vancouver, Calgary and Edmonton. With only 40% of the year left, now is the time to make the difference in your performance this year. Take a look at the market updates below.
Toronto (GTA), ON
Toronto’s market has recovered quite well. Sales are up 18.6% and active listings are up 5.2% from last year. But where does the inventory sit? At a healthy 2.8 months of inventory. The sales compared to the month before has slightly decreased, but that is to be expected in the summer months. For my full analysis on the Toronto market and submarkets, have a look below:
There’s no candy coating the results for this month. The numbers are off by a lot in July with the sales decreasing by 30% and the active listings increasing by 32%. This has brought the months of inventory from 3.1 to 5.9, moving the market from a seller’s market to a balanced buyer’s market. As a result of these changes, the composite benchmark price has plateaued at $1.09m. To see more into the market, we will look into the micro markets a little bit to understand what’s selling and what isn’t. Watch my video below for my full analysis:
Sales are slightly lower than last year at 1547 with an increase in active listings by 26.2%. As a result, the months of inventory has increased by 32.6% to 5.5, bringing the composite benchmark price to $435k. What’s important to note, are the months of inventory for the micro markets within Calgary. Here we can see that detached housing is the hottest market compared to apartments, semi-detached and row. Take a look at the video below to see the full set of numbers and what I think of the market:
Sales in Edmonton are very close to what we saw last year, while the active listings have gone up by 12.6%. If we look at how the market is doing across the months of 2018, we can see that the sales peaked in May at 1776, but is still going strong at 1603. The inventory has steadily increased, but the months of inventory has stayed around 6.1 to 6.2. Take a look at my video below for my analysis of the market:
Regardless if your markets numbers were higher or lower than expected, use this information to strengthen your abilities as a salesperson and help your clients who depend on your market intelligence.
Remember, it’s a beautiful life, make it count.