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North Toronto Houses 2017 4th Quarter Report C10

Including: Mount Pleasant East and West including Davisville and Sherwood Park

Mount Pleasant Toronto   2017     2016   Difference
House Sales   149     153   -2.6%
Homes Average Price   $1,053,211     $861,024    22.4%
New Listings   197     204    -3.4%
Active Listings   41     34    20.6%
% of Final Sales Price to Listing Price   101%     105%    -4%
Days on Market   19     14    35.7%


  Sales Average Price Detached New Listings Days on Market % Sold Price vs. Listing Price
Mount Pleasant East 25 $1,827,000 35 15 102%
Mount Pleasant West 8 $2,129,00 13 26 99%


The mid town Toronto area of Mount Pleasant East and West had a very interesting 4th quarter for 2017. When you take a glance at the numbers you would believe that the numbers were weak but as you dive deeper you find the numbers are stronger than they appear. Let's start with the actual sales numbers being down by 2.6% over the same period last year at 149 sales. Most of the sales were in Mount Pleasant West which is a lower average price than the East. The interesting number was the high condo sales driving the average down overall though the average detached was well near two million still a very strong number. Mount Pleasant is a very well demanded neighbourhood; so buyers are moving into condos just to be in the area. Mount Pleasant West detached homes average almost 2 million and the east averages almost 1.8 million for detached homes. This number is in fact up from the previous year.

Inventory of new listings was also the cause of the sales cycle as the number of new listings to hit the market was up and the inventory at the end of the quarter was up 42.3%. 

We can still see the high demand for houses in this area as the ratio of listing price to sales price was still 100% on the final sale. One area we have to watch in the 1st quarter of 2019 is the time a property is on the market. We saw no major change to this in the 4th quarter; as 19 days was still taking to sell the home. 19 days is still a very strong number; we will look at it the 1st quarter of 2018.

With sales as brisk and prices still on the rise I would be looking to sell at this time. If you are an investor and hold condo units the market appears to be very strong to sell your unit as well. 

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