Central Toronto Houses 2015 1st Quarter Report C06
Including: Humewood Cedarvale and Forest Hill South
|Mid Town Toronto||2015||2014||Difference|
|House Sales||55||70||– 21%|
|Homes Average Price||$1,099,941||$1,415,491||+ 7%|
|New Listings||113||135||– 16%|
|% of Final Sales Price to Listing Price||103%||98%||+ 5%|
|Days on Market||18||36||– 50%|
|Sales||Average Price Detached||New Listings||Days on Market||% Sold Price vs. Listing Price|
|Humewood – Cedarvale||31||$892,972||45||8||105%|
|Forest Hill South||24||$1,367,275||68||47||100%|
Sales in the areas of Forest Hill South and Humewood – Cedarvale continued to be strong. The average price appears lower but that is not the case as in 2014 there were 39 sales in Forest Hill compared to 31 in Cedarvale. This past quarter Cedarvale – Humewood had 31 sales compared to Forest Hill South having 24. Prices appear to be lower but it was not the case as there was a high percentage of condos sold in Forest Hill south at 16 of the 24 sales. The average price for detached homes in Forest Hill South was over $3 Million this quarter.
Inventory continues to be low, therefore increasing the demand to live and buy in these Neighbourhoods. New listings were down by 16% and active listings still on the market at the end of the quarter were down by 18%.
The Market continues to be strong as the sold over listing price increased 3% and the time on the market was under 3 weeks.
The analysis shows if you are debating on selling your home in these Neighbourhoods, now would be an excellent time to place your home on the market as the inventory continues to be low. Make sure you have a seasoned agent representing your best interests.