Toronto Real Estate Sales C02

Midtown Houses - 2017 1st Quarter Report

Including: Annex, Casa Loma, Wychwood and Yonge-St. Clair

69 detached, semi-detached and attached houses were sold in Midtown Toronto (the Annex, Casa Loma, Wychwood and Yonge - St. Clair) in the first quarter of 2017, at an average of $2,015,142.

As compared to the first quarter of 2016, sale numbers were lower by 4%, while the average price rose by 40.9% from $1,430,303 to $2,015,142.

Toronto still experienced a significant shortage of real estate listings, and competition between prospective buyers led to many bidding wars. 67.1% of sales received more than the listing price, 4.1% sold for the full asking price, and 28.8% sold below. Two firm sales fell through before closing. In one case, where the house sold firm in just two days, the sale fell apart after just over two weeks. In another, the house was sold firm in 10 days, and the sale was supposed to close in three months, but failed to close.

Only four listings sold with bully offers. Two homes were sold on the same day they were listed. Three listings sold in one day. 58.9 percent of listings sold within a week, 79 percent of these sold above asking. It took 100 days to sell a fairly narrow detached house, built in 1910, located in the Annex. It was listed with an asking price of $1,499,000 and eventually sold for $1,388,000. The fact that it was not available for viewings on weekends might have extended the marketing time.

Average price of detached homes increased, on a year-over-year basis, by just over 45%, to $2,121,994, price of semi-detached houses rose by 37.5% to $1,989,973, and the average price of attached houses rose by just over 11%, to $1,500,000.

The lowest price, $815,000, was paid for a 2-storey renovated semi on a busy street near Christie and Davenport. That house was sold in 6 days with multiple offers and received 110% of the listing price. The highest, $4,350,000, was paid for a modern renovation of a two storey detached Casa Loma house built in 1949. That listing required 81 days to sell.

Detached Houses

You may find grand Victorian detached homes in Toronto Midtown neighbourhoods. Many of them have been luxuriously renovated and restored Midtown Toronto   2017     2016   Difference
House Sales   28     21   + 33.3%
Homes Average Price   $2,121,994     $1,462,859   + 45.1%
New Listings   43     43   0.0%
Active Listings   33     49   - 32.6%
% of Sales Price to Listing Price   109.4%     104.0%   + 5.4%
Days on Market   17     11   + 6

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
Annex 10 $2,334,282 14 17 105.7%
Casa Loma 6 $2,378,167 9 19 108.8%
Wychwood 8 $1,609,250 10 14 125.4%
Yonge-St. Clair 4 $2,121,994 10 21 101.3%

Semi-detached Houses

Semi-detached homes in Toronto Midtown vary in style and size, from small 2 bedroom to grand 5 or even 6 bedroom mansions Midtown Toronto   2017     2016   Difference
House Sales   37     36   + 2.8%
Homes Average Price   $1,989,973     $1,447,274   + 37.5%
New Listings   63     54   + 16.7%
Active Listings   46     39   + 17.9%
% of Sales Price to Listing Price   109.7%     106.3%   + 3.4%
Days on Market   10     9   + 1

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
Annex 19 $1,987,684 28 10 110.4%
Casa Loma 4 2,683,750 7 22 96.9%
Wychwood 8 $1,155,375 14 10 124.7%
Yonge-St. Clair 6 $2,647,500 14 6 109.7%

Attached Houses (Freehold Townhouses)

Victorian row houses on Belmont Street vary in street appeal, but most are charming Midtown Toronto   2017     2016   Difference
House Sales   4     15   - 73.3%
Homes Average Price   $1,500,000     $1,344,001   + 11.6%
New Listings   16     19   - 15.8%
Active Listings   11     18   - 38.9%
% of Sales Price to Listing Price   102.6%     100.3%   + 2.3%
Days on Market   10     8   + 2

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
Annex 4 $1,500,000 15 10 102.6%
Casa Loma 0 $0 1 0 0.0%
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Marisha Robinsky, REALTOR
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