11 Aug 2020
Week 23 – Looks like people are taking some time off now after all….sales volume is way down.
[ ] Week 23! Looks like people are in fact taking time off and enjoying the dog days of summer (That’s what you call these days right?) Sales are way down across the board in our urban communities. Prices, however, are holding strong in most cases…condos are an interesting beast.
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Numbers Aug 2nd to 8th Starting March 1st
House Average Price: $1,400,726
House Median Price: $1,300,000
445 Active Listings
57 Firm Sales This Week
Months of Inventory (MoI) ~ 1.47
Average Days on Market 7 DoM
Condo Average Price: $817,763
Condo Median Price: $692,500
2396 Active Listings
90 Firm Sales This Week
MoI ~ 4.42
Average Days on Market (DOM) – 35
Urban North: Rosesale, Deer Park, Moore Park, Forest Hill, & Lawrence Park
Months of inventory have been increasing here week over week so but houses remain in-demand. Seems like the end of summer has taken people’s attention off of real estate so we should see a couple weeks of low volume.
There’s a really good chance that you’ll be in competition when buying homes under $3M. There seems to be more opportunity $3-7m but the majority of the sales $1.3 to $3M were in competition.
House Average Price: $2,803,462
House Median Price: $2,260,000
168 Active Listings
13 Firm Sales This Week
Months of Inventory (MoI) ~ 4.09
Condo Average Price: $1,994,643
Condo Median Price: $2,245,000
266 Active Listings
7 Firm Sales This Week
MoI ~ 5.1
Leaside & Davisville
Leaside & Davisville doesn’t have a ton of sales volume however each of the five available houses and six condos sold in competition. So the decrease in sales volume doesn’t speak to the lack of demand.
House Average Price: $2,028,428
House Median Price: $1,837,000
43 Active Listings
5 Firm Sales This Week
Months of Inventory (MoI) ~ 1.17
Condo Average Price: $783,136
Condo Median Price: $792,000
146 Active Listings
6 Firm Sales This Week
MoI ~ 2.94
Birch Cliff
Houses here continue to out perform all other communities with consistent sales over asking. The days of sub million dollar deals are done here.
Remember, I stopped tracking condos here a couple of weeks ago as there aren’t enough sales consistently. People tend to not be selling as often but rest assured this area will start to achieve $1000/PSF in no time.
House Average Price: $1,272,000
House Median Price: $1,272,000
24 Active Listings
4 Firm Sales This Week
Months of Inventory (MoI) ~ 1.23
As always, please comment below, DM, or call/text 416-434-1511 if any questions.
