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Judi Kohn
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C-06 Bathurst Manor, Toronto Real Estate Sales Report

Houses 2017 April, May and June

Bathurst Manor   April     May   June  
House Sales   15     12   6  
Homes Average  Sold Price   $1,484,882     $1,275,666   $1,520,833  
Homes Average Listing Price   $1,215,833     $1,237,031   $1,570,800  
% of Final Sales Price to Listing Price   122%     131%   .96%  
Days on Market   19     23   28  

 

 We have had to face the 1st government interaction in years in Toronto's real estate market. In April we saw a change with the new housing reform to try to cool the market and make the industry stronger for buyers. What was to happen was it would slow the sales, increase inventory and thus lower prices for the buyers and stall a very hot market. We have heard many conflicting reports over the past couple of months so much so that it has even been difficult for many realtors to understand. We have heard that the market is dead no listings and prices have dropped dramatically. It was time for me to go through each month sale by sale to offer you the information that you need for Bathurst Manor.

What I have done is go through each sale month by month and broken down the numbers to see the real effect on the market.

In April before the changes we saw 15 sales up from the year before by 6 sales and saw the average detached home sell for $1,484882 a more than 15% increase over the year before so a very strong market in that month.

In May my concerns grew as I saw what the news was saying happening in the market sales dropped by 25% and the average price dropped by 14% over the previous month. This grew my concern to the fact that we were going to see a collapse in the market. I did not panic but decided to see one more month before publishing my findings.

So now the June numbers have come in and I find a more puzzling market. Sales dropped again by another 50% and this concerned me but lo and behold the market had bounced back in prices up over even Aprils sales average to $1,520,833 up bu more than 10%. Great News! 

Does this mean we are back to normal? Not even close but what is happening is that this changes have not effected the market as much as we think. We have seen more listings in later June come onto the market and I believe we will see a slight pick up in sales but most important to owners is that the prices will remain strong.

I will continue to add to the numbers monthly to assist you in your buying and selling needs.

 

 

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