Central Toronto 2nd Quarter Housing Sales - Penny Brown

Penny Brown

Central Toronto 2nd Quarter Housing Sales

13 July 2018
Penny Brown

Central Toronto 2nd Quarter Housing and Condo Sales Report

Including: The Annex, Forest Hill South, Rosedale – Moore Park, Deer Park, Wychwood Park, Yorkville and St. Lawrence Distillery District in Toronto’s Waterfront

The 2nd quarter 2018 sales for condos and houses in Central Toronto turned out to be a very interesting report. The media has led us to believe prices especially in higher end neighbourhoods had plummeted and the market was all about doom and gloom in these areas. What we have seen in the 2nd quarter is quite different, some of the neighbourhoods have actually seen a price increase and all my neighbourhoods are in much better shape than reported.

  1. The Annex – The Annex was down 34% in sales this quarter, but prices matched 2017 numbers in fact rising by more than $10,000 per sale. This is a tiny amount not even making it a percentage point but showing strong signs that The Annex is back and any potential sellers that have been waiting for the prices to come back should look at this market as inventory is down and prices are up.
  2. Rosedale – Moore Park – Rosedale – Moore Park had an even stronger quarter. Prices were up by 3% over the same period in 2017. Again, sales were down by 41% but homes were selling in less than 3 weeks.
  3. Forest Hill South – Forest Hill South saw a dramatic drop in sales down 33% with only 18. Though, sales prices were up 6% and we saw the average price above the 4 million dollar mark again. These luxury houses were on the market for less than a month and sold for 99% of listing price showing strength in this luxury housing market.
  4. Casa Loma – Casa Loma is one of Central Toronto’s neighbourhoods that performed poorly sales were down by 45% and prices fell by 15%. We will have to watch this neighbourhood over the next quarter as to what direction it turns. Casa Loma is till one of Toronto’s most sought after neighbourhoods and we may have seen some bubble effect in late 2016 and early 2017.
  5. Wychwood Park – Wychwood Park’s numbers were better than the city’s average but not as strong as many of the central Toronto neighbourhoods. Sales were down by 6% and prices fell by 7% though stronger than the 1st
  6. Deer Park – Deer Park proved to be very similar to Wychwood Park with sales down by 32% and prices fell by 6%.

Overall we have seen a great improvement in the central Toronto real estate market and I can only see things improving in the 3rd quarter. If you are thinking of selling talk to me and we can discuss your situation, timing and all your real estate needs to make your transition and smart and happy one.