Huge % change in NEW LISTINGS … but is there more (i.e. less) to that story?

nEW lISTINGS UP 23,63_ 48.9%

The Toronto Real Estate Board reports 25.3% MORE New Listings in 416 and 63.8% MORE in the surrounding areas — total averages to +48.9% over 2016

The reported total of NEW Listings was 25,837 (vs 17,356 in 2016 May)

BUT …. many properties had 2 and 3 listings (consecutively and all wholly above-board) as the owner/Realtor(tm) switch pricing strategies – first they go “low with a holding offer date” , if that fails they go “high with no date” and then some have gone “just right” (as Goldilocks would say) before finding a buyer.

NB each time they switch strategies, they terminate the existing MLS Listing and start again with a NEW MLS listing

So … if … 10,196 properties sold in May 2017 (vs 12,790 in May 2016 which itself was huge, new, all-time, any-month TREB sales record)

And if …. 50% of those sold Listings and 25% of the ~10,000 Listings that were in Active inventory (i.e. not-sold) (10,196 x 50%) + (10,000 x 25%) = 5098+2500=7598

IF … 50% and 25% of those Listings did one extra EXTRA terminate/relist manoeuver – thereby adding 7598 to the reported 25,837 NEW listing total …. how many NET New Listings actually happened (25,837 – 7,598) =18.239

Plug 18,239 into the chart above …. is it better, worse, no help?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s