In the past we’ve written about there is no such thing as “the” real estate market.

Rather than give you some generalities about what’s going on in “the” market as a whole, we thought we’d take a look at where there are opportunities right now.

We’re going to review the best type of housing in each of the seven Toronto Region Real Estate Board areas using the latest data from August, 2020.

For each area, we’ll discuss the best home to be selling as well as the best home to be buying.

On the sale side, we’re looking for the property type that has the lowest level of inventory or the highest average sale to list price ratio.  Both of these are strong indicators of demand – and it’s always good to be selling a product that is in demand.

On the buy side, we’re looking for the property that has the highest number of active listings or the longest days on the market on average.  Both of these are strong indicators of supply – and if you’re buying, it’s good to have choices and to be able to negotiate hard.

Let’s get to it.

Toronto

In the big smoke, the best property to be selling right now is a semi-detached home.

  • The months of inventory for this type of property is just 1 month and the average sale to list price ratio is 108.4%.

On the buy side, if you’re looking for a bargain, the best property to buy in Toronto right now is a condo apartment.

  • We have 3 months worth of inventory right now and the average sale to list price ratio is exactly 100%.
  • There are almost 4,600 active condo apartment listings on the market right now and the average days on market is sitting at 18 days.

Peel

In Peel Region, the best property to be selling right now is tied between a semi-detached home and a townhouse.

  • The months of inventory for these types of property is around 0.7 months and the average sale to list price ratio is around 101.9%.

On the buy side, if you’re looking for a bargain, the best property to buy in Peel right now is a condo apartment.

  • We have 2.5 months worth of inventory right now and the average sale to list price ratio is at 99.3%.
  • There are almost 700 active condo apartment listings on the market right now and the average days on market is sitting at 20 days.

York

If you’re focused on York region, the best property to be selling right now is a semi-detached home.

  • The months of inventory for this type of property is just 0.7 months and the average sale to list price ratio is 103.3%.

On the buy side, if you’re looking for a bargain, the best property to buy in York right now is a condo apartment.

  • We have 3 months worth of inventory right now and the average sale to list price ratio is exactly 99%.
  • There are exactly 700 active condo apartment listings on the market right now and the average days on market is sitting at 23 days.

Halton

When we look in, the best property to be selling right now is tied between a semi-detached home and a townhouse.

  • The months of inventory for these types of property is around 0.6 months and the average sale to list price ratio is around 101.7%.

On the buy side, if you’re looking for a bargain, the best property to buy in Halton right now is a condo apartment.

  • We have 1.6 months worth of inventory right now and the average sale to list price ratio is at 98.9%.
  • There are over 200 active condo apartment listings on the market right now and the average days on market is sitting at 23 days.

Durham

In Durham, the best property to be selling right now is a townhouse.

  • The months of inventory for this type of property is just 0.6 months and the average sale to list price ratio is 105.1%

On the buy side, if you’re looking for a bargain, the best property to buy in Durham right now is a condo apartment.

  • We have 1.1 months worth of inventory right now and the average sale to list price ratio is 100.9%.
  • There are 86 active condo apartment listings on the market right now and the average days on market is sitting at 18 days.

Dufferin

Turning to Dufferin, the best property to be selling right now is a townhouse.

  • The months of inventory for this type of property is just 0.5 months and the average sale to list price ratio is 103.3%

On the buy side, if you’re looking for a bargain, the best property to buy in Dufferin right now is a detached house.  That’s right, not a condo apartment!  Probably because there are just so few condos for sale in Dufferin.  Let’s look at the detached stats.

  • We have 0.8 months worth of inventory right now and the average sale to list price ratio is 102%.
  • There are 33 active detached house listings on the market right now and the average days on market is sitting at 15 days.

Simcoe

Finally, if we look in Simcoe, the best property to be selling right now is a semi-detached.

  • The months of inventory for this type of property is just 0.3 months and the average sale to list price ratio is 102.2%

On the buy side, if you’re looking for a bargain, the best property to buy in Simcoe right now is a condo apartment.

  • We have 1.6 months worth of inventory right now and the average sale to list price ratio is 97.4%. There are 3373 active condo apartment listings on the market right now and the average days on market is sitting at 46 days.

There you have it.  The best homes to be putting on the market these days in almost all parts of the GTA are semi-detached homes, with townhouses coming a close second.

If you’re looking for a good buying opportunity, without a doubt now is the time to get a deal on a condo apartment.  A combination of almost non-existent immigration and tourism lately has dramatically increased the number of condo apartments available for purchase.  In typical days, such units were regularly snapped up by recent arrivals to the area who needed an affordable option, and investors who relied on short-term rentals.  Add in the desire to not share elevators or common space with other people during these COVID days, and you have a glut of condo listings that is seeing prices pushed down.

If you want to discuss buying or selling, we’d be happy to talk about how to maximize your opportunity.  Don’t hesitate to get in touch.