{"id":8505,"date":"2018-09-21T08:29:43","date_gmt":"2018-09-21T12:29:43","guid":{"rendered":"https:\/\/www.zolo.ca\/news\/?p=8505"},"modified":"2022-07-06T21:40:53","modified_gmt":"2022-07-07T01:40:53","slug":"gta-market-report-condo-september","status":"publish","type":"post","link":"https:\/\/www.zolo.ca\/blog\/gta-market-report-condo-september","title":{"rendered":"Shopping for a Gta Condo or Townhouse? Over Half the Market Isn\u2019t in Your Favour"},"content":{"rendered":"\n<p>Condos and townhouses certainly got their fair share of activity in 2018. Once the go-to property type for empty-nesters and first-time buyers, condos and townhouses have now entered into the mainstream with more and more families (or those looking to grow a family) examining condos and townhouses as a more affordable urban alternative.<\/p>\n\n\n\n<p>No wonder, then, certain market regions are still very much in seller&#8217;s territory when it comes to condos and townhouses.<\/p>\n\n\n\n<p><span style=\"font-weight: 400;\">According to recent statistics released by the Toronto Real Estate Board (TREB), j<\/span>ust over half (54%) of Metro Toronto is still a seller&#8217;s market for condominiums and townhouses, while only 11% of the city&#8217;s 35 neighbourhood areas are in a buyer&#8217;s market.<\/p>\n\n\n\n<p>In the Greater Toronto Area, only 50% of real estate markets east of Metro Toronto are now balanced, with <a href=\"https:\/\/www.zolo.ca\/ajax-real-estate\">Ajax<\/a> and <a href=\"https:\/\/www.zolo.ca\/whitby-real-estate\">Whitby<\/a> remaining as sellers&#8217; markets when it comes to condos and townhouses. West of Metro Toronto is about the same, with <a href=\"https:\/\/www.zolo.ca\/mississauga-real-estate\">Mississauga<\/a>, <a href=\"https:\/\/www.zolo.ca\/halton-hills-real-estate\">Halton Hills<\/a> and <a href=\"https:\/\/www.zolo.ca\/milton-real-estate\">Milton<\/a> reporting steady sales activity going into September 2018.<\/p>\n\n\n\n<p>For buyers, the bright spot is the market north of <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\">Metro Toronto<\/a>. Turns out sales activity in some of the hottest real estate markets, such as <a href=\"https:\/\/www.zolo.ca\/vaughan-real-estate\">Vaughan<\/a>, <a href=\"https:\/\/www.zolo.ca\/richmond-hill-real-estate\">Richmond Hill<\/a> and <a href=\"https:\/\/www.zolo.ca\/aurora-real-estate\">Aurora<\/a>, has cooled and these areas are now in a buyer&#8217;s market. Other hot spots, such as <a href=\"https:\/\/www.zolo.ca\/newmarket-real-estate\">Newmarket<\/a>, <a href=\"https:\/\/www.zolo.ca\/markham-real-estate\">Markham<\/a> and <a href=\"https:\/\/www.zolo.ca\/markham-real-estate\/unionville\">Unionville<\/a> also show cooling sales activity, but demand for condos and townhouses in these areas keep these regions in balanced markets.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"2972\" height=\"9319\" loading=\"lazy\" src=\"https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2018\/09\/The-GTA-Housing-Market-Report-for-September-2018-Condos-Townhouses.jpg\" alt=\"The GTA Housing Market Report for September 2018 Condos &amp; Townhouses\" class=\"wp-image-8515\"\/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Share this Image On Your Site<\/h4>\n\n\n\n<p><textarea style=\"width: 540px; height: 120px;\">&lt;\/p&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;\n&lt;p&gt;&lt;strong&gt;Please include attribution to Zolo with this graphic.&lt;\/strong&gt;&lt;\/p&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;\n&lt;p&gt;&lt;a href=&#8217;https:\/\/www.zolo.ca\/blog\/gta-market-report-condo-september&#8217;&gt;&lt;img src=&#8217;https:\/\/www.zolo.ca\/blog\/wp-content\/uploads\/2018\/09\/The-GTA-Housing-Market-Report-for-September-2018-Condos-Townhouses.jpg&#8217; alt=&#8217;The GTA Housing Market Report for September 2018 Condos &amp; Townhouses&#8217; 540px border=&#8217;0&#8242; \/&gt;&lt;\/a&gt;&lt;\/p&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;&lt;br \/&gt;\n&lt;p&gt;<\/textarea><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"why-use-active-listings-versus-new-listings?\">Why Use Active Listings Versus New Listings?<\/h2>\n\n\n\n<p>There are really good reasons for examining the competitiveness of the GTA real estate market using the sales-to-listings ratio.<\/p>\n\n\n\n<p>First, this ratio provides a fairly good assessment of where a current area is when it comes to supply and demand. Also, because the ratio doesn&#8217;t strip out stale listings \u2014 properties that are just sitting on the market and not selling \u2014 this ratio doesn&#8217;t sugar coat the activity in a particular market. &nbsp;In this way, we get a more realistic and comprehensive view of how a particular region is fairing when it comes to market absorption. It&#8217;s also why the sales-to-active-listings ratio is also known as the Market Absorption Rate (MAR).<\/p>\n\n\n\n<p>To calculate the&nbsp;sales-to-active-listings ratio (or MAR), take the&nbsp;total number of sales at the end of a given time period (in this case, a calendar month) and divide it by the total number of active listings available during the same time period. Using Metro Toronto&#8217;s numbers at the start of September, as an example:<\/p>\n\n\n\n<p>1,564 sales \/ 2,650 active listings = 59.02%<\/p>\n\n\n\n<p>The higher the ratio, the more demand for property in those areas and the more opportunity a seller has to list high. A lower ratio indicates slower sales and the potential for falling house prices.&nbsp;A <a href=\"https:\/\/www.zolo.ca\/blog\/glossary\/balanced-market\">balanced market<\/a> is when the supply of housing meets the demand from potential buyers. In a balanced market, sellers usually accept reasonable, close-to-list-price offers; homes typically stay on the market for close to the average number of days and prices remain fairly stable within the region.<\/p>\n\n\n\n<p>According to the TREB and the Realtors&#8217; Association of Hamilton-Burlington, a ratio between 35% and 55% indicates a balanced market. Ratios above 55% indicate a seller&#8217;s market, while ratios below 35% indicate a buyer&#8217;s market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"key-takeaway:-north-and-east-of-metro-to-good-markets-for-condo-&amp;-townhouse-shoppers\">Key Takeaway: North and East of Metro to Good Markets for Condo &amp; Townhouse Shoppers<\/h2>\n\n\n\n<p>Like it or not, but more than half of Metro Toronto isn&#8217;t favourable to condo and townhouse buyers. As a result, if you want to avoid bidding wars or inflated prices, buyers will need to shop competitively in Metro Toronto or look to the north or east for less frothy markets.<\/p>\n\n\n\n<p><a class=\"button button--action button--large\" href=\"https:\/\/www.zolo.ca\/blog\/where-to-buy-condo-toronto\"><i class=\"icon icon-location-on xs-mr1\"><\/i>Where to Buy in in 2018: Greater Toronto Condos<\/a><\/p>\n\n\n\n<p><a class=\"button button--action button--large\" href=\"https:\/\/www.zolo.ca\/blog\/where-to-buy-townhouse-toronto\"><i class=\"icon icon-location-on xs-mr1\"><\/i>Where to Buy in in 2018: Greater Toronto Townhouses<\/a><\/p>\n\n\n\n<p>For a few good bets, consider the following (ranked based on market absorption ratio):<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">10 of the Top Areas in the <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/condos\">GTA<\/a> that Favour Buyers<\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li>E06 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/oakridge\">Oakridge<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/birchcliffe-cliffside\">Birchcliff &#8211; Cliffside<\/a>)<\/li><li>Aurora<\/li><li>Vaughan<\/li><li><a href=\"https:\/\/www.zolo.ca\/simcoe-real-estate\">Simcoe Region<\/a><\/li><li>C09 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/rosedale-moore-park\">Rosedale &#8211; Moore Park<\/a>)<\/li><li><a href=\"https:\/\/www.zolo.ca\/york-real-estate\">York Region<\/a><\/li><li><a href=\"https:\/\/www.zolo.ca\/richmond-hill-real-estate\">Richmond Hill<\/a><\/li><li>C06 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/clanton-park\">Clanton Park<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/bathurst-manor\">Bathurst Manor<\/a>)<\/li><li>E03 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/playter-estates-danforth\">Playter Estates &#8211; Danforth<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/broadview-north\">Broadview North<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/danforth-village-east-york\">Danforth Village &#8211; East York<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/east-york\">East York<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/oconnor-parkview\">O&#8217;Connor &#8211; Parkview<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/woodbine-lumsden\">Woodbine &#8211; Lumsden<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/crescent-town\">Crescent Town<\/a>)<\/li><li>W09 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/willowridge-martingrove-richview\">Willowridge &#8211; Martingrove &#8211; Richview<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/humber-heights\">Humber Heights<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/kingsview-village-the-westway\">Kingsview Village &#8211; The Westway<\/a>)<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">10 of the Top Areas in the <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/trends\">GTA that Favour Sellers<\/a><\/h3>\n\n\n\n<ol class=\"wp-block-list\"><li><a href=\"https:\/\/www.zolo.ca\/whitby-real-estate\">Whitby<\/a><\/li><li>W02 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/high-park-north\">High Park North<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/lambton-baby-point\">Lambton Baby Point<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/runnymede-bloor-west-village\">Runnymede&nbsp;&#8211; Bloor West Village<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/junction-area\">Junction Area<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/dovercourt-wallace-emerson-junction\">Dovercourt &#8211; Wallace Emerson &#8211; Junction<\/a>)<\/li><li><a href=\"https:\/\/www.zolo.ca\/milton-real-estate\">Milton<\/a><\/li><li>E10 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/highland-creek\">Highland Creek<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/west-hill\">West Hill<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/centennial-scarborough\">Centennial Scarborough<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/rouge-e10\">Rough E10<\/a>)<\/li><li>C12 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/st-andrew-windfields\">St. Andrews &#8211; Windfeilds<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/bridle-path-sunnybrook-york-mills\">Bridle Path &#8211; Sunnybrook &#8211; York Mills<\/a>)<\/li><li>W01 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/high-park-swansea\">High Park &#8211; Swansea<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/roncesvalles\">Roncesvalles<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/south-parkdale\">South Parkdale<\/a>)<\/li><li>W10 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/west-humber-clairville\">West Humber &#8211; Clairville<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/rexdale-kipling\">Rexdale &#8211; Kipling<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/elms-old-rexdale\">Elms &#8211; Old Rexdale<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/thistletown-beaumonde-heights\">Thistletown<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/mount-olive-silverstone-jamestown\">Mount Olive &#8211; Silverstone &#8211; Jamestown<\/a>)<\/li><li><a href=\"https:\/\/www.zolo.ca\/dufferin-county-real-estate\">Dufferin Region<\/a><\/li><li>E01 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/north-riverdale\">North<\/a> &amp; <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/south-riverdale\">South Riverdale<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/blake-jones\">Blake &#8211; Jones<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/greenwood-coxwell\">Greenwood &#8211; Coxwell<\/a>)<\/li><li>W05 (<a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/humber-summit\">Humber Summit<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/humbermede\">Humbermede<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/humberlea-pelmo-park-w5\">Humberlea &#8211; Pelmo Park W5<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/downsview-roding-cfb\">Downsview &#8211; Roding CFB<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/glenfield-jane-heights\">Glenfield &#8211; Jane Heights<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/black-creek\">Black Creek<\/a>, <a href=\"https:\/\/www.zolo.ca\/toronto-real-estate\/york-university-heights\">York University Heights<\/a>)<\/li><\/ol>\n\n\n\n<p><a class=\"button button--action button--large\" href=\"https:\/\/www.zolo.ca\/blog\/gta-market-report-house-september\"><i class=\"icon icon-location-on xs-mr1\"><\/i>38% of Metro Toronto stubbornly stays in a seller&#8217;s market for single-family houses<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After more than a few frothy years, the GTA real estate market is cooling. That&#8217;s not bad news for sellers as there are still plenty of regions with elevated demand and limited supply when it comes to condos and townhouses<\/p>\n","protected":false},"author":3,"featured_media":8529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"guide":[],"class_list":["post-8505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-trends"],"acf":[],"zolo_excerpt":"","_links":{"self":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/8505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/comments?post=8505"}],"version-history":[{"count":11,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/8505\/revisions"}],"predecessor-version":[{"id":21558,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/posts\/8505\/revisions\/21558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media\/8529"}],"wp:attachment":[{"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/media?parent=8505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/categories?post=8505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/tags?post=8505"},{"taxonomy":"guide","embeddable":true,"href":"https:\/\/www.zolo.ca\/blog\/wp-json\/wp\/v2\/guide?post=8505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}