27 Oct Market Notes: Inventory continuing to build
The inventory is continuing to build in Toronto, with slightly more listings coming on the market then are selling, although it is still competitive for the quality/unique properties. This week was less active is terms of new listings, but I am seeing an uptick in unique/quality listings, which is giving my clients more options. Overall the market downtown is continuing to become more balanced. Some new listings may be a reaction to the new mortgage restrictions in January, with some sellers choosing to pre-empt a softening freehold market.
Outside of lofts, inventory in the condo market is still low for the discerning buyer. There are very few units available in buildings I consider to be premium buildings. There are signs that condominium appreciation is coming down to earth a bit, which was expected once prices on freehold homes dropped. Although not lasting long, there are actually quite a few hard lofts coming to the market, which is great for us!