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North Toronto Houses 2014 2nd Quarter Report C04

Including: Forest Hill North, Lawrence Park, Bedford Park and Englemount

North Toronto Toronto 2014 2013 Difference
House Sales 310 255 + 21%
Homes Average Price $1,566,666 $1,432,450 + 9%
New Listings 431 485 - 12%
Active Listings 294 273 + 8%
% of Final Sales Price to Listing Price 102% 99% + 3%
Days on Market 14 20 - 30%

 

Sales Average Price Detached New Listings Days on Market % Sold Price vs. Listing Price
Forest Hill North 22 $1,368,000 29 12 100%
Lawrence Park N&S 146 $1,408,000 146 14 103%
Bedford Park 119 $1,636,000 239 20 99%
Englemount 33 $982,000 49 18 100%

englemount bedford park real estateNorth Toronto had an excellent 2nd quarter for 2014. This is a very high end area and we saw sales and prices increase dramatically. There were 310 sales up by more than 20% over 2013. Prices continued to grow at an alarming rate with an increase of 9%. The average home price in this area was more than1,5 million. The other stat that I found interesting is that sellers were getting 2% over asking price. This is not the usual trend with luxury homes. Most luxuary areas were coming in around 97 or 98%. One of the main reasons for these numbers is that new listings dropped by 12% and inventory continues to decline.

Forest Hill North continues to be strong in sales and prices. Lawrence Park is still one of the hotteset areas in the city with homes selling closer to 1.5 million and at 103% of listing price. Bedford Park remains with an average price over 1 million and sales were brisk at 119. Englemount is now the only area under a million but the way the market is going that will change very soon.

Overall a sellers market people are selling within a couple of weeks and for more than asking.


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