Including: Mount Pleasant East and West including Davisville and Sherwood Park
Mount Pleasant Toronto
Homes Average Price
% of Final Sales Price to Listing Price
Days on Market
Average Price Detached
Days on Market
% Sold Price vs. Listing Price
Mount Pleasant East
Mount Pleasant West
Davisville and Mount Pleasant has really grown into one of Toronto's hotbed neighbourhoods. Still considered an area to move up to without spending millions of dollars to do so. Just east of Yonge Street this neighbourhood is close to shopping, transportation, boutiques and 5 Star restaurants. It has always been considered a family friendly safe neighbourhood with excellent schools and this is the reason this area continues to boom in the Toronto Real Estate market.
Sales boomed in the 2nd quarter of 2014. Sales were up 22% to over 50 sales from the same time in 2013. Sales prices rose 2% to close to $800,000. New listings were up 51% though active listings grew just 12% due to the average home on the market lasted less than 2 weeks and sold by close to 3% over asking price.
Both, Mount Pleasant East and West came out of the quarter very strong Mount Pleasant East had over 108 sales and has crept very close to the average price of 1 million. The houses entered the market and sold in under 2 weeks at a rate of 2% over asking price. New listings were way up but the inventory at the end of the quarter remained low due to how fast homes were bought.
Mount Pleasant West was still up by over 4% over last year even though the amount of new listing shot up by such a great amount. It is just taking over a week to sell and the sellers are seeing 3% higher on their asking price.
Sales will continue to be brisk in this area. The greatest concern is for the buyers that the new listings will drop off and that will create a larger demand for the inventory out there raising prices and creating more bidding wars and multiple offers.
I may sound like a broken record in this area but if you are debating on selling this is the time to do so with the inventory low and the prices high. We never have a clue how long this type of market will last.