Understanding Neighbourhood Market Update – Part 1
One of my life’s mottos is ‘simple is better’. My job as your neighbourhood realtor is to explain and show you what’s happening in the real estate marketplace in a way simple and easy to understand. That’s why I post my NMU every month whenever TREB issues its market update each month. My NMU is a ONE-page, customized, and simple-to-understand report for you.
Today I will explain how my market update can help you see the trend in the marketplace at a glance. Hello, I am a Oshawa and North York realtor Peter Kim. At the beginning of every month, TREB, Toronto Real Estate Board, which I am a member of as a realtor, issues a monthly market update. It is a 27-pages long PDF in small letters with a lot of numbers, almost no graph. Although it is very long all it has are # of sales, # of New Listings, # of Active Listings, Average Price, Average DOM (Days on Market) and a couple more. The reason it has so many pages is that it includes all these information for each region, city and community in all GTA. For example, my home belongs to Durham region, Oshawa city and Centennial community. The TREB report has data set for each of these areas. In addition, the TREB report also presents this information based on the type of homes: detached, semi-detached, townhouse and condo. And it compares the month’s data with the month of the prior year. For example, the October 2019 data will compare it with the October 2018 data.
NOW, my report is simpler and easier than TREB report and customized for you. As your neighbourhood realtor, I made a strategic and conscious decision to include data only relevant to you, to add more historical data points and to present mostly in graph making it easy to follow. Here are my 7 points I want to make regarding my neighbourhood market update. …