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) incresed by nearly 10%, while the average price rose by 30% from $1,271,614 to $1,652,565. Fewer new listings contributed to a shortage of houses available for sale and many bidding wars. 56.4% of sales received more than the listing price, 7.7% sold for the full asking price, and 35.9% sold below.
Average price of detached homes increased by just over a third, to $2,083,185, price of semi-detached houses rose by almost 40% to $1,372,056, and the average price of attached houses nearly doubled, to $1,751,781. This large increase is, however, based on just a handful of sales. Without a large number of sales an average can be distorted quite substantially in either direction.
Eleven 'bully' offers were presented in the third quarter.
Freehold houses in C02 were selling, on average, at 107% of the listing price, and the average time required to sell a listing was 19 days. One house was sold on the day the listing was taken, for $252,000 over the asking price. The highest percentage was 148% (or $451,000 over asking) for a 2-storey detached vacant house in Casa Loma, renovated but fairly plain, with a deep lot and a double garage. The lowest percentage - 69% - was paid for a four bedroom detached house in Casa Loma, which was listed for $3,050,000 and took 122 days to eventually sell for $2,100,000.