Goooooooddd Moooorrrrning & happy new year!

Last week was weird… Thursday felt like a Monday and then all of the sudden it was the weekend again. If you’re anything like me, everyday is somewhat a work day so I was more caught off guard by people still with “Out of Office” replies on their emails.

By the way, today the Canadian prime minister resigned… congrats to those who have “F🍁CK TRUDEAU” stickers on their cars.

Anyway, back to real estate. Based on our weekly data pulls it looks like we’re at an important point of the market. Potentially a perfect time for sellers to list.

Why?

Active Toronto listings continue to drop (down 11.2%) while sales are starting to pick up (up 20.93%). Now sales seem to be stupidly low (only 52 sold this week in Toronto) - not sure if the data from the board is messed up or this is actually how low they actually are.

Here’s what we got for you today:

_{Stats as of 9:30am EST January 6, 2024. Compared week over week.}

With the recent news about rental weakness I thought it would be beneficial for both realtors and investors to know exactly where the weakness is coming from. The best way to know that is through data and tracking the weekly changes in statistics.

We are starting this small with Toronto, but eventually will move into smaller markets so that we can highlight strong/weak pockets.

We are hoping to build the data out large enough where realtors can help renters identify where there's way more supply than demand. In these areas you'd most likely have a better chance of negotiating lower rent because units may be sitting on the market longer.

Investors can also use this data to see where rental demand is high and the best places to invest in the city.

Here’s some current stats from the Toronto market (30 day rented history):

In smaller pockets it's a much healthier market.

Ex. Mimico, Ontario

Is there a specific area you want me to highlight on the Google Sheet? Just reply back to this email.

*Updated every week