Week 26: Houses in Leaside/Davisville & Birch Cliff Continue to Fly High!
[ ] Week 26!
The yo-yo continues to bob up and down as sales numbers dip to below 100 with 90 firm house sales in our urban communities. Followed by nearly a 33% drop in condo sales. Both average price and median are also down and we’re seeing that mainly in the core. Condos directly in the downtown core are being listed faster than we can buy them. Although MoI didn’t increase that month from last month it’s up. Now with Airbnb’s new rules disallowing rentals in anything other than your personal residence we should see a ton of condos hit the market in the coming weeks/months. Again, if you don’t need to sell….don’t!
Numbers Aug 23rd to 29th
House Average Price: $1,576,064
House Median Price: $1,370,000
527 Active Listings
90 Firm Sales This Week
Months of Inventory (MoI) ~ 1.65
Average Days on Market ~7 DoM
Condo Average Price: $738,811
Condo Median Price: $664,000
2604 Active Listings
98 Firm Sales This Week
MoI ~ 4.55
Average Days on Market (DOM) ~35
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Houses continue to perform very well here as MoI is almost cut in half from last month. This is a result of slowly depleting listing inventory with the same level of buyer demand. If you have a house to sell you should be doing well here especially under $3M. Homes $3M to $10M are still selling relatively quickly but still up to 45-60 days in some cases. Condos on the other hand have crossed the dreaded 6MoI and aren’t showing much life to be honest. only 6 firm sales this week down from 13 last. Condo sellers are going to be on the market for a while waiting fo their buyer. Buyers finally have something to celebrate here
House Average Price: $2,805,800
House Median Price: $2,025,000
163 Active Listings
21 Firm Sales This Week
Months of Inventory (MoI) ~ 2.85
Condo Average Price: $1,114,667
Condo Median Price: $1,082,500
291 Active Listings
6 Firm Sales This Week
MoI ~ 6.42
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Average price sitting pretty above $2M again. We were floating around the $1.8 mark for a while but here we are. Demand for larger homes in Leaside and Davisville is big and MoI is super low. Expect competition here if you’re a Buyer. Condos are a different story but still moving quite healthily. This area is a great option for those that are priced out of Yonge and Eg or newer product. Many well maintained older condos here that can give you plenty of space for much less money than downtown or prime urban communities.
House Average Price: $2,313,550
House Median Price: $1,732,200
49 Active Listings
8 Firm Sales This Week
Months of Inventory (MoI) ~ 1.47
Condo Average Price: $775,188
Condo Median Price: $696,500
190 Active Listings
8 Firm Sales This Week
MoI ~ 4
Birch Cliff, the darling of the East Side. Some call it Lawrence Park East but I’d rather call it Birch Cliff 🙂 Check out that average price! Crossing the $1.4 mark for the first time and taking median up with it. With only one month of inventory available you can imagine how competitive it is here. We can expect these numbers to continue into 2020 and beyond. Big lots, big homes and super close to The Beaches and the eventual growth to the North as Gerrard continues to make moves.
House Average Price: $1,440,000
House Median Price: $1,150,000
21 Active Listings
8 Firm Sales This Week
Months of Inventory (MoI) ~ 1.00
As always, please comment below, DM, or call/text 416-434-1511 if any questions. CC: Ara Mamourian