Lawrence Park, Forest Hill, Bedford Park North Toronto First Quarter Real Estate Report 2015

North-Toronto-Neighourhood-Real-Estate

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%
Bedford Park 85 $1,589,817 181 21 101%
Englemount 29 $616,141 55 33 96%
North-Toronto-Neighourhood-Real-Estate

Similar Homes were often built in Neighbourhoods in North Toronto

Forest Hill Listings

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.

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