22 June 2018 ~ 0 Comments

Toronto’s East End Continues To Be On Fire!

Would you believe that with all of the talk of a cooling real estate market across the GTA, the average sale-to-list price ratios in Toronto’s East End last month, were above 100%?

Sales-to-list price ratio reflects the asking price of a property, and what it’s sale price is. For example, if a property were listed for $800,000 and sold for $864,000 it’s ratio would be 108%.

Eo3 with boundaries roughly north of the Danforth, Broadview in the east, Victoria Park in the west, and roughly O’connor Avenue to the north, had a ratio of 110%!

E01 was sizzling hot with a ratio 0f 113% (Broadview south of Danforth, to Coxwell down to the lake).

E02’s ratio was a very respectable 105% (Coxwell south of Danforth, to Victoria park down to the lake).

The entire Toronto East average 104%.

Leslieville, the Beach, East York, Danforth Village, Playter Estates. For those who call Toronto’s east end home, you’re well aware of the perks and benefits of being east of the DVP.  Others are awakening to the call and the demand is high to get into the diverse neighbourhoods that surround you.

The rest of Toronto proper is doing pretty good as well.

In Toronto Central and Toronto West, both ratios were a very good 101%.

Some neighbourhoods that are more in demand in all areas will pull the averages higher. But overall, the news is good for Toronto in that demand is strong. Condos are still a major factor in the downtown cores strength, with sales activity declining but average prices rising 6.5%.

Semi-detached and townhouse/attached home prices were flat (which isn’t necessarily a bad thing in the short term), and detached home prices continue to level of and are down 5.6%.

Affordability is the overwhelming factor at play which the numbers above reflect. The Ontario government’s plan last year to cool the housing market by pricing first time buyers out, is working. Without a first time buyer you get limited move-up sellers/buyers as some who can afford it, will hold onto their first time property and turn it into a rental, and then make a more modest move upward.

If you have any questions about your specific neighbourhood let me know?

 

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