I love to gauge the luxury real estate of Toronto by C12. It offers showing the strength of the market on a whole. Most of this area are homes over a million dollars and before a market slides you tend to see weakness in the luxury neighbourhoods. This is the case in this area. Sales were in fact down by 41.2% over the same period last year however we saw the prices climb to over 2.6 million; a 4.2% increase over the same period of last year.
The area that we did see an increase was in new listings which was 11.1% up from the year prior though inventory was increased at the end of the quarter to 73 properties for sale. The listings were on the market 3 days longer than last year.
Bridle Path and Sunnybrook sales of 16 detached homes at over 4.9 million and we saw 60 new listings selling in 32 days. This market continues to hold its own with small signs of weakness. No one will know what is to come in the future but for you sellers thinking of going into the market now is the time.
The same holds true for St. Andrew's and Windfields where prices were up, Listings were up and days on the market were up slightly.
I will be watching very closely what will happen in this market over the next few months. At this time we see no changes for the worse.