North Toronto Houses 2015 1st Quarter Report C10
Including: Mt. Pleasant (East West), Davisville & Sherwood Park
|Mount Pleasant Toronto||2015||2014||Difference|
|House Sales||122||115||+ 6%|
|Homes Average Price||$789,748||$717,213||+ 10%|
|New Listings||213||203||+ 5%|
|Active Listings||101||87||+ 14%|
|% of Final Sales Price to Listing Price||102%||101%||+ 1%|
|Days on Market||22||21||+ 5%|
|Sales||Average Price Detached||New Listings||Days on Market||% Sold Price vs. Listing Price|
|Mount Pleasant East||47||$993,714||71||22||105%|
|Mount Pleasant West||75||$661,490||142||75||100%|
Davisville and Mount Pleasant has really grown into one of Toronto’s hotbed neighbourhoods. Still considered an area to move up to without spending millions of dollars to do so. Just east of Yonge Street this neighbourhood is close to shopping, transportation, boutiques and 5 Star restaurants. It has always been considered a family friendly safe neighbourhood with excellent schools and this is the reason this area continues to boom in the Toronto Real Estate market.
Sales boomed in the 1st quarter of 2015. Sales were up 6% to over 122 sales from the same time in 2014. Sales prices rose 6% to close to $800,000. New listings were up 5% though active listings grew just 14% due to the average home on the market lasted less than 2 weeks and sold by close to 3% over asking price.
Sales will continue to be brisk in this area. The greatest concern is for the buyers that the new listings will drop off and that will create a larger demand for the inventory out there raising prices and creating more bidding wars and multiple offers.
I may sound like a broken record in this area but if you are debating on selling this is the time to do so with the inventory low and the prices high. We never have a clue how long this type of market will last.