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Mid Town Toronto Houses 2014 2nd Quarter Report C02

Including: Yonge and St. Clair, Casa Loma, Wychwood and The Annex

Mid Town Toronto 2014 2013 Difference
House Sales 262 242 + 8%
Homes Average Price $1,106,022 $1,046,410 + 6%
New Listings 506 530 - 5%
Active Listings 261 277 -6%
% of Final Sales Price to Listing Price 102% 98% + 4%
Days on Market 21 30 + 30%

 

Sales Average Price Detached New Listings Days on Market % Sold Price vs. Listing Price
Yonge and St. Clair 51 $1,317,967 68 16 101%
Casa Loma 36 $1,319,790 63 19 100%
Wychwood 41 $860,785 69 11 105%
The Annex 134 $1,042,923 134 26 102%

 

Sales in midtown Toronto continued to move quite nicely. We did see a small decline in sales from 2013 but, we also saw a 31% increase in prices moving from $1,200,000 in 2013 to over $1,647,000 in 2014. This area is still in high demand as we saw homes sell for 104% over listing price and in less than a month. We saw most of the newer listings come on the market in March partially due to the inclimate weather that we had this past winter.

One of the stats that shows that the market will continue to move well into 2014 is that home prices are up and when they go on the market they sell quickly. This is partially due to the lack of inventory within the market for homes over 1 million dollars. A year ago we saw the luxury homes selling much slower and less than listing price.

The analysis shows if you are debating on selling your home, now would be an excellent time to place your home on the market as the inventory continues to be low.

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