How’s the Market?

December 2018/January 2019

November capped off what was a fairly solid fall market. In an unusual turn of events, prices in the fall market in central Toronto were slightly higher than in the spring market even though the spring market felt like a stronger market because of more bidding wars and quicker sales. On the whole, the fall market was a fairly solid market. There were some bidding wars and some homes sold for very high prices, but many homes didn’t sell quickly and sold for reasonable prices. It was still more of a sellers’ market than a buyers’ market, but it wasn’t a crazy market by any stretch.

It’s mid-December as I write this and we’re seeing more showings than usual at this time of year. This level of activity and the fairly solid fall market bode well for the 2019 residential real estate market in central Toronto. Demand continues to outpace supply.

Historically, there will be few new listings between now and February. We’ll likely start to see the number of new listings increase in February, depending on the weather, and then increase even further in the March to May period when the spring market is in full swing and the number of new listings usually hits its peak. Based on what we’ve been seeing lately, I expect the 2019 spring market in central Toronto to be a strong one.

Central Toronto – Market Overview

  Average Price % of List # of Sales Total Listings # of New Listings Average Days on Market
Dec ’17 $827,033 98% 944 1,759 994 24
Jan ’18 $857,361 99% 746 1,719 1,419 26
Feb ’18 $892,378 100% 982 1,994 1,748 22
Mar ’18 $883,297 100% 1,386 2,125 2,217 17
Apr ’18 $949,084 101% 1,479 2,387 2,611 15
May ’18 $960,558 101% 1,555 2,965 3,189 16
Jun ’18 $966,088 100% 1,498 2,913 2,552 16
Jul ’18 $931,472 99% 1,240 2,778 2,215 20
Aug ’18 $888,683 98% 1,156 2,428 1,843 25
Sep ’18 $963,448 100% 1,185 2,928 2,652 22
Oct ’18 $980,698 99% 1,432 2,843 2,576 19
Nov ’18 $959,243 99% 1,237 2,476 1,962 22
Dec ’18 $874,462 98% 640 1,636 653 26

 

Prices – John Wanless and Bedford Park Public School Neighbourhoods

There are five typical home styles in the neighbourhood north of Lawrence, east of Avenue Road, west of Mount Pleasant Road and south of Old Orchard Grove and Snowdon Avenue. Each typical home style is shown on the chart below. Please remember that factors such as house size, lot size and dimensions, condition and location, amongst others, affect selling prices.

Type of Home  No. of Sales Price Range  Ave. Price Date
  • 2 Bedroom
  • Bungalow
  • Mutual driveway
4 $1,250,000 – $1,530,000 $1,368,750 Jan ’18 – Nov ’18
  • 3 Bedroom
  • Semi-detached
  • No family room
31 $925,000 – $1,530,000 $1,235,500 Jan ’18 – Nov ’18
  • 3 Bedroom
  • 2 Storey Detached
  • No family room
16 $1,300,000 – $1,706,000 $1,543,500 Jan ’18 – Nov ’18
  • 3 Bedroom
  • 2 Storey Detached
  • Family Room
9 $1,600,000 – $1,750,000 $1,663,750 Jan ’18 – Nov ’18
  • Newer Construction
13 $2,310,000 – $2,815,000 $2,514,000 Jan ’18 – Nov ’18

 

Prices – John Ross Robertson, Lytton Park, Lawrence Park and Cricket Club Areas

JOHN ROSS ROBERTSON – Chudleigh Ave., Cheritan Ave., Chatsworth Dr., Glenview Ave., Glengrove Ave. W., Glencairn Ave.

LYTTON PARK – east and west of Avenue Road: Alexandra Blvd., Lytton Blvd., Strathallan Blvd., Cortleigh Blvd., Hillhurst Blvd. (almost all of these homes are on 50 foot wide lots)

LAWRENCE PARK – between Yonge St., Bayview Ave., Lawrence Ave. E., and Blythwood Rd. (almost all of these homes are on 50 foot wide lots)

CRICKET CLUB – between Avenue Rd., Yonge St., Wilson Ave., and Brooke Ave.

House Type John Ross Robertson  Lytton Park  Lawrence Park  Cricket Club 
  • 30 foot lot
  • 2 storey
  • 3 bedrooms
  • Private Drive
$2,000,000 – $2,500,000 Not found in this area  Not found in this area  $1,800,000 – $2,400,000
  • 30 or 40 foot lots
  • 4 bedrooms
  • Private Drive
 $2,000,000 – $2,800,000  Not found in this area  Not found in this area  $2,000,000 – $2,500,000
  • 50 foot lot
  • 4+ bedrooms
  • Private Drive
  • Solid Condition
  • Not Renovated
  • No family room
 $2,800,000 – $3,500,000   $2,600,000 – $3,000,000  $2,800,000 – $3,200,000 $2,400,000 – $2,800,000
  • 50 foot lot
  • 4+ bedrooms
  • Private Drive
  • Renovated
  • Family Room
 $3,000,000+   $2,800,000+   $3,000,000+  $2,600,000+
  • 50 foot lot
  • Land Value
 $2,800,000 – $3,500,000   $2,600,000 – $3,000,000 $2,800,000 – $3,200,000    $2,400,000 – $2,800,000

 

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