Informed home buyers or sellers these days are aware of the importance of the market conditions when it comes to buying or selling a home. The question I get recurrently is "how is the market?"... And while I don't have a crystall ball to predict the future of the local market, I can accurately describe the market conditions for each pocket of the GTA once the reasearch has been done.

Market conditions are based on evidence, they are determined by the number of sales to the number of new listings ratio. This measurement illustrates how many homes that come on the market for sale are actually selling in a specific area each month. It is a metric that provides us with insight on the competition the home buyers are facing and it is a crucial piece of information when making an offer on a property or when actually listing a home for sale. The Toronto Real Estate Board puts together a monthly report that illustrates the market situation for the entire GTA as well as a report for each specific MLS district.

Knowing if it's a seller's market, a buyer's market or a balanced market is what helps buyers and sellers determine how to proceed with their real estate transactions. 
A sales to new listings ratio (SNLR) between 40% and 60% is considered a balanced market as per the Canadian Real Estate Association. Bellow and above the 40%-60% treshold, we face a buyer's market and a seller's market respectively.
Good Real Estate Agents are keeping the pulse of the market and are able to advise you accordingly.
If you have any questions about your local micro market, feel free to give us a call at 647-261-1405 or click here if you would like a free, no obligation home market evaluation of your home.