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 Bedford Park Toronto Houses 2016 4th Quarter Report

Bedford Park Toronto Real Estate

Bedford Park   2016     2015   Difference
House Sales   67     132   - 51%
Homes Average Price   $2,100,018     $1,672,448   + 25%
New Listings   97     227   - 43%
Active Listings   24     66   - 36%
% of Final Sales Price to Listing Price   100%     99%   + 1%
Days on Market   16     20   - 18%

Sales in Bedford Park continue to decline. This is the 4th quarter in a row that we have seen sales down and this 4th quarter was the greatest decline we have seen. Sales were down 51% with only 67 properties sold compared to 132 in the same period of 2015. The good news is for the sellers, with inventory being down as much as it is the supply and demand swing to the sellers and prices increased by 25% to homes pricing themselves over 2 million for the first time in this area. It was not long ago that we were impressed how the prices rose above the 1 million dollar range. We do not foresee a change in this as long as inventory remains low and the banks keep the interest rates down. New listings were down by 43% and we only saw 24 houses on the market at the end of the quarter. Sellers got what they were looking for in prices as the average sales to listing price was 100% of asking and we saw homes sell in just over 2 weeks.        

Bedford Park continues to hold the high demand factor as prices are very solid and we see no weakness over the near future. Bedford Park is the neighbourhood that has shown the greatest increase in prices over the past 5 years and continues to hold very strong.

Bedford Park real estate remains to be one of the strongest selling neighbourhoods in the city. It is still an area you can get a great buy for just a million dollars and still be part of an incredible neighbourhood.

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.

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