WHY are sales so far ahead of everything else? INVENTORY — 15-30% below Average (huge uptake by current Buyers – nothing lasts) NEW LISTINGS — 50% OVER the 5 & 10 yr Averages — HOWEVER, if we discount the 22,709 New Listings at 25% to try to account for the ultra-common Terminate/Re-List strategy (due to…
RARELY DOES a TrREB BAR Chart SHOW the current situation so Vividly My 2 regular charts show the HUGE HIGHER LEVEL of SALES — but the page has so-much more — the Boom gets lost
HIGHEST PRICES EVER no matter how you compare!!!! My two regular charts only obfuscate the UNPRECEDENTED -ness
IN CONSTANT dollars we can see the actual TREND And now both the Nominal Prices & CPI-adjusted Prices — from two booms ago
50.42 % of Sales were Freehold in 905 64.60% of Sales were in 905 West 31.52% North 21.76% & East 12.62% AVERAGE PRICE in Feb was 7.122% HIGHER in 905 than 416 (but it’s early in the year) BUT by TYPE it’s reversed …. 416 DETACHED exceeds 905 by 29.46% 416 Average Price of a…
INVENTORY LOW, because sales for last 2 Quarters have been extr-ordinary NEW LISTINGS — actually +40% up … but STILL not enough to satisfy demand DAYS on Market normally 21-23 days — now 14-19 (depending on how you count PACE of the Market — “nobody’s price is underwater from 2017” — Rce 2021 Months of…
“It’s easier to fool people than to convince them that they have been fooled.” ― Mark Twain
WHAT’s Gonna Stop it? Seasonal supply will increase as Last-Time Sellers of BIG homes they have owned for 25-35 years come on market. SARS fears will subside and folks won’t mind strangers in the homes (as much as in LockDown) Some people accelerated their Spring Purchases to Winter (why wait for spring …. do it…
BEAR in mind that the Slowest Months for Sales are Dec & Jan The Slowest Months for NEW Listings is Dec and Jan The Coldest Months of the Year are Dec-March The Snowiest Months of the Year are Nov – March SARS-CoV-2 inspired LOCKDOWNS were implemented in Dec-Feb/March SO … after 6 Consecutive Months of…
+ TrREB’s BarChart shows it nicely — MORE THAN ANY & EVERY Month Ronnie Hauth’s GRAND (Price)VISTA from 1972 to Today And Just the last little while (the Global Monetary Crisis barely registers, eh?)
50% MORE than Last Jan … which was an ALL-TIME Record!! Same Data BUT (here’s the reason for) using my School Yr View TRREB’s Bar Chart JUMPS out too Ron Hauth (Legendary Boater AND Realtor) Graph has Sales AND Prices simultaneously since 2010 — shows records in BOTH
