Including: Annex, Casa Loma, Wychwood and Yonge-St. Clair
As compared to the same time period of the previous year, real estate sales in mid-town Toronto (the Annex, Casa Loma, Wychwood and Yonge - St. Clair) of freehold houses (detached, semi-detached and attached) were lower by nearly 24%, while the average price rose by 26% from $1,498,518 to $1,889,503.
As it has been the case for a good while now, a shortage of houses available for sale caused competition between prospective buyers and many bidding wars. 45.9% of sales received more than the listing price, 8.3% sold for the full asking price, and 45.8% sold below.
Only seven listings sold with a bully offer. One house was sold on the same day it was listed, after the previous listing, priced low with a date set for offers, was terminated, and listed with a more appropriate asking price. Six listings sold in one day. 37.5 percent of listings sold within a week, three quarters of these sold above asking. It took nearly 4.5 months (132 days) to sell a newly built semi-detached house in Wychwood area. It was listed with an asking price of $2,195,000 and eventually sold for $2,123,000.
Average price of detached homes increased by almost 30%, to $2,118,780, price of semi-detached houses rose by just over 17% to $1,598,354, and the average price of attached houses rose by just over 15%, to $1,168,000.
The lowest price, $700,000, was paid for a 2-storey semi just north of train tracks between Dovercourt and Ossington. The highest, $5,150,000, was received for a three storey, sixteen year old townhouse in Yorkville.