November 10, 2004

 

The statistics have now been updated for October on the TorontoThegood.com web sites. I have added a new chart to the existing charts.

 

The new chart shows a comparison of last year’s “sales to inventory ratio” to this years. As you can see below, this years spring market was a considerably hotter Sellers market than last years spring market. This fall though, especially in October, the market has not been nearly as hot. This is mostly caused by a build up of inventory and not so much by a lack of sales. Buyers are looking more carefully at the value represented by each listing as there are more listings to choose from. A listings pricing/value proposition becomes more critical in its likelihood of selling this fall. Sellers who are serious about selling soon have to make sure they are “priced to sell now” or they will soon be waiting for next years spring market.

 

When the indicator line is above the blue box prices tend to rise. In the blue box, prices tend to be stable, below the blue box they tend to fall. The indicator for October shows that there was little pressure on prices to rise and traditionally there is even less in November and December.                    Mike Manley