North Toronto Houses 2015 1st Quarter Report C04
Including: Forest Hill North, Lawrence Park, Bedford Park and Englemount
|North Toronto Toronto||2015||2014||Difference|
|House Sales||211||208||+ 2%|
|Homes Average Price||$1,404,745||$1,204,246||+ 17%|
|New Listings||395||448||– 12%|
|Active Listings||150||212||– 29%|
|% of Sales Price to Listing Price||102%||100%||+ 2%|
|Days on Market||20||22||– 12%|
|Sales||Average Price||New Listings||Days on Market||% Sold Price vs. Listing Price|
|Forest Hill North||18||$1,167,883||26||21||101%|
|Lawrence Park N&S||79||$1,570,825||133||13||104%|
Sales in North Toronto continued to be strong and increasing by another 2% in the 1st quarter of 2015. Prices continued to increase this first quarter and are up over 2014 by 17%. Much of this increase was due to more luxury homes selling and the slowing pace of Engelmount Neighbourhood which has the most inexpensive homes in the area. I never expected to see the average price in this area to soar over $1.4 Million during the winter months, which are typically a slower time of year.
North Toronto is still in high demand as we saw homes sell for more than 100% of their List Price and in just over 3 weeks. New listings and Inventory continued to be low which could mean prices will remain higher.
What I found interesting is how well the luxury homes sold in this area. They sold fast and over asking prices.
Lawrence Park and North Forest Hill continue to hold the high demand factor as prices are very solid and we see no weakness over the near future. Englemount is still your best bet to get an affordable house in this area though the prices have been rising constantly over the past few years. Bedford Park is the neighbourhood that has shown the greatest increase in prices over the past 5 years and continues to hold very strong.
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 and the Buyers are still very active.