Here are the latest MLS trends for the first 3 weeks of COVID-19:
MLS MARKET STATS
Here are the latest trends during COVID-19:
I know this is unsettling times for everyone, and you’re worried about the market. Or perhaps you’re interested in jumping in. It’s on your mind: How has the coronavirus impacted the resilient Toronto real estate market and what’s happening during the COVID-19 pandemic?
Well here are the actual statistics from the Toronto Regional Real Estate Board’s live MLS feed. If it shows a zero number, that means that the results have not been released for the week yet, so check back tomorrow to see the most updated results. Also, we realize that it is difficult to use hard boundaries on selecting communities, but you have to draw the line somewhere, so this is what we came up with. It should be a big enough of a sample size to give you relevant information. As always, you can reach out to us if you want us to give you the statistics on your particular area and/or housing type.
Here is a timeline of emergency orders impacting Toronto (Source: https://toronto.ctvnews.ca/timeline-emergency-orders-impacting-toronto-and-ontario-amid-the-covid-19-pandemic-1.4881738):
WEEK 0: MARCH 9 to 15, 2020 (W2-March 2020)
March 12: The province announces that all publicly funded schools in Ontario will be closed for two weeks following March Break in response to the COVID-19 pandemic.
March 14: Canada recommends against international travel and advises those returning from outside of the country to self-isolate for 14 days.
[W2-March] SALES TO NEW LISTINGS RATIO = 45.7%
WEEK 1: MARCH 16 to 22, 2020 (W3-March 2020)
March 16: Canada announces plans to close the border to most people who are not Canadian citizens or permanent residents. The federal government also promises $82B in economic aid. Toronto public health officials recommend all bars and restaurants in the city halt dine-in service by midnight.
March 17: Ontario Premier Doug Ford declares a state of emergency in response to the pandemic.
March 18: Prime Minister Justin Trudeau announces that Canada and the U.S. have agreed to temporarily restrict all non-essential travel across the border.
[W3-March] SALES TO NEW LISTINGS RATIO = 25.4%
WEEK 2: MARCH 23 to 29, 2020 (W4-March 2020)
March 23: Premier Doug Ford orders the closure of all non-essential businesses in Ontario for 14 days and Toronto Mayor John Tory declares a state of emergency in the city.
March 25: The federal government announces it will start enforcing 14-day quarantines on travellers under the Quarantine Act. The City of Toronto orders the closure of all facilities within public parks, including playgrounds, off-leash dog areas, and sports fields.
[W4-March] SALES TO NEW LISTINGS RATIO = 18.5%
WEEK 3: March 30 to APRIL 5, 2020 (W1-April 2020)
March 30: Ontario orders the closure of all communal or shared, public or private, outdoor recreational amenities everywhere in the province. The province also extends the Declaration of Emergency and all associated emergency measures, including the closure of non-essential businesses.
March 31: The province announces that Ontario schools will remain closed until at least May.
April 2: Toronto residents who do not live together are ordered to stay two metres apart in public parks and squares under a new bylaw signed by the city’s mayor.
April 3: The province extends the list of non-essential businesses that must now close, including non-critical industrial construction projects.
[W1-APRIL] SALES TO NEW LISTINGS RATIO = 14.0%
Number of Showings
Here are the numbers for showings booked, from our front desk software that is widely used throughout the industry. It is not the company that every brokerage uses, but they do a good job with their software so a large number of good brokerages use them. I feel that this is a fair representation of the volume of showing requests booked throughout this crisis:
Source: BrokerBay