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Mid Town Toronto Houses 2016 1st Quarter Report C02

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

Mid Town Toronto   2016     2015   Difference
House Sales   177     182   + 41%
Homes Average Price   $1,215,863     $1,152,958   + 7%
New Listings   400     368   + 12%
Active Listings   208     196   -14%
% of Final Sales Price to Listing Price   101%     99%   - 2%
Days on Market   24     37   + 37%


  Sales Average Price Detached New Listings Days on Market % Sold Price vs. Listing Price
Yonge and St. Clair 41 $1,239,937 82 18 102%
Casa Loma 14 $1,164,850 43 27 97%
Wychwood 21 $939,035 38 9 108%
The Annex 101 $1,270,720 237 29 100%


Sales in midtown Toronto continued to move quite nicely. We did see a very strong rise in sales from 2014 by 41% with 182 sales over the quarter. We also saw a 7% increase in prices moving from $1,077,722 in 2014 to over $1,152,958 in 2015. This area is still in high demand as we saw homes sell for 99% of listing price.

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. Active listings dropped by 14% this quarter.

One interesting stat is that 63 condos sold and 27 homes sold in this area. We also saw that other than Casa Loma homes sold over asking price. Wychwood continues to rise in price and the homes there are selling within 3 months.

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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Toronto,Ontario, M2N 4M4 / 416-485-8140.
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