Bedford Park Nortown Houses 2014 2nd Quarter Report
Including: Forest Hill North, Lawrence Park, Bedford Park and Englemount
North Toronto Toronto
Homes Average Price
% of Final Sales Price to Listing Price
Days on Market
Average Price Detached
Days on Market
% Sold Price vs. Listing Price
Forest Hill North
Lawrence Park N&S
Sales in North Toronto continued to be strong. Where we saw a small decline in sales in Q-1 this year we saw a strong increase in Q-2 over last year going from 255 sales to 310. Prices also increased by 9% to over 1.5 million. One concern from the buyers side but a huge lift to the sellers side is we did see a decline of new listings by 12%. This area is still in high demand as we saw homes sell for 100% of listing price and in just over 2 eeks. New listings flowed consistently over the quarter but we did not see a larger inventory of homes in the area.
What I found interesting is how well the luxury homes sold in this area. They sold fast and over asking prices. This proves the demand is back for luxury homes an area that was weak in 2013.
Lawrence Park and North Forest Hill continue to hold the high demand factor as prices are very solid and we see no weakness over the near future. Englemount is still your best bet to get an affordable house in this area though the prices have been rising constantly over the past few years. Bedford Park is the neighbourhood that has shown the greatest increase in prices over the past 5 years and continues to hold very strong.
The analysis shows if you are debating on selling your home, now would be an excellent time to place your home on the market as the inventory continues to be low.