All that matters – INVENTORY …. and the reasons why it’s so low

1. The Hysteria of Multiple Bidding by Inexperienced Buyers, with lots of buying power at (net) Zero percent interest rates
2. The deadening of competition by the controlled distribution of homes ALL deploying the same Under-List Pricing Strategy – the only variables are a) will you accept a pre-emptive bid before offer date and b) how much cushion is built-into the Ask vs BUY NOW price i) in seller’s mind, ii) in LBO’s mind and iii) after 10 showings on the first day?
3. Many buyers are not going to live in the house/unit. If possible they’ll create 2 accessory/bsmnt / upstairs units – without TOO MUCH regard for Zoning Regs, Fire code, Municipal bylaws on Short-term rentals and/or the subject property’s neighbours.
4. Gramma/pa is not selling. a) 85-90 is the new 65 – they’ll stay in their paid-off home and hire a gardener, snow remover, interior/ window/ appliance/ bath & kitchen cleaner AND a personal care person to aid with bathing etc –ESPECIALLY when b) their property is going up by 1% to 2% PER MONTH

INVENTORY 55-58% BELOW average

New Listings or 24% Below AVERAGE — NOT 2% to 9% Below average …. BECAUSE 17% to 23% of the TrREB ‘reported-as-NEW’ are actually duplicates If LBO gets no offers or wants to raise/drop the List Price, LBO submits a Terminations + a Re-list at new Price and the same home gets counted again

Days on Market

DAYS on Market is 45% faster than average

Sales to New Ratio ie # Sales : # of New Listings is 28% Over Average (partially because of Terminate/re-List double counting

As discussed elsewhere SALES are at record pace – 23.1% above Average

in both 905 and 416 — about 28% over average