Week 24: Well that was a short vacation…
[ ] Week 24! Wow, so that didn’t last long. People seemed to take a break from real estating last week but some buyers are back in play during Week 24.
Sales volume (aka the number of actual sales) is up nearly 60% for Houses and 23% for Condos. We’re still down from our Mid-July highs (which were virtually pre-COVID numbers).
Numbers Aug 9th to 15th Starting March 1st
House Average Price: $1,484,921
House Median Price: $1,375,000
461 Active Listings
81 Firm Sales This Week
Months of Inventory (MoI) ~ 1.47
Average Days on Market ~7 DoM
Condo Average Price: $802,132
Condo Median Price: $693,500
2454 Active Listings
111 Firm Sales This Week
MoI ~ 4.42
Average Days on Market (DOM) ~35
Urban North: Rosesale, Deer Park, Moore Park, Forest Hill, & Lawrence Park
Only 5 of the 18 House sales resulted in multiple offers during Week 24 and those were mostly in the sub $2M range…as expected. $3-5M homes are all selling relatively quickly and close to asking in most cases so not too many “deals” spotted here. Nice to see sales volume jump up a little this week.
House Average Price: $2,465,190
House Median Price: $2,380,209
165 Active Listings
18 Firm Sales This Week
Months of Inventory (MoI) ~ 4.09
Condo Average Price: $1,429,094
Condo Median Price: $1,049,000
272 Active Listings
15 Firm Sales This Week
MoI ~ 5.1
Leaside & Davisville
Again, not a ton of sales volume in this pocket however prices remain high and stable. There was a slight increase in new listings but MoI is super tight here so we could use some supply. If you’re in the Leaside and Davisville area we need you on the market! You’ll do well.
House Average Price: $2,133,276
House Median Price: $2,180,000
50 Active Listings
6 Firm Sales This Week
Months of Inventory (MoI) ~ 1.17
Condo Average Price: $683,143
Condo Median Price: $680,000
159 Active Listings
7 Firm Sales This Week
MoI ~ 2.94
Birch Cliff
Only 3 sales here but that’s typical. Not a ton of quality inventory but lots of Buyer attention. This area offers some of the largest lots in the East at a price that’s too attractive to ignore.
You could go 500M south of Kingston Rd into the Beaches and pay 2x for the same lot. Being closer to Queen and the beach are an incredible amenities to have at your doorstep but if you’re looking for more house and land, your money will go a lot further here. The area is still fairly auto-centric but that’s changing slowly but surely.
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: $1,230,667
House Median Price: $1,181,000
28 Active Listings
3 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.