Downtown Toronto neighbourhoods had a combined 270 home sales in January 2012. This total included houses as well as condos. The combined dollar volume of these sales was $117,000,000. The average list to sale price ratio was approximately 98 % and the average time on the market approximately 34 days. The majority of these sales were condominium apartments with 232 sales and an average sale price of $435,000. Just 25 of the total sales recorded were freehold houses which was a reflection of the short supply of these homes on the market. An even smaller sample size of just 4 houses were fully detached and these had an average sale price of $1,050,000. If your looking for a detached house in downtown Toronto check out the Cabbagetown, Beaconsfield Village, Dufferin Grove, Trinity Bellwoods and South Annex neighbourhoods.

Midtown Toronto neighbourhoods recorded a combined 77 sales in January 2012. The average sale price for all these homes was $923,000. The average list to sale price ratio was 99% while the average days on the market clocked in at 39. Twenty-three of these sales were detached homes with an average sale price of $1,264,000 which is not surprising given these stats include sales in neighbourhoods such as: Rosedale, Forest Hill, Casa Loma, South Hill and Moore Park. There were 17 semi-detached homes sold in Midtown neighbourhoods with an average sale price of $933,000. Higher priced real estate in Summerhill, Rathnelly and Yorkville would be well above this average while in more affordable neighbourhoods like Hillcrest Village and Seaton Village a semi-deatched house may sell for less than this average. There were also a combined 27 midtown condominium apartment sales with an average price of $725,000. Michael Loewith, sales representative at Harvey Kalles Real Estate Ltd., adds: "There is a shortage of quality homes for sale right now in midtown Toronto and with the recent interest rate reductions we are seeing increased demand coupled with higher prices."

Uptown Toronto neighbourhoods saw a combined 92 sales in January 2012. The average price of all these sales was $801,000. The limited supply and great demand for houses in these neighbourhoods resulted in a list to sale price ratio of 101% with an average of just 20 days on the market. Detached home sales led the way with 53 sales recorded at an average sale price of $1,105,000. This would be a starting price for the signature neighbourhoods such as Lawrence Park and Lytton Park and North Toronto. There were just 8 semi-detached houses sold in uptown Toronto neighbourhoods last month with an average price of $837,000. These homes can be found in neighbourhoods such as Bedford Park and Davisville Village. The semi-detched houses sold on average in just 5 days with a staggering list to sale price ratio of 112%

Real estate is definitely hot in the Toronto central core and the competition for houses is fierce. The good news is you can navigate your way to a successful home purchase by simply getting in touch with one of the highly experienced and successful real estate sponsors that can be found on the www.TorontoNeighbourhoodGuide.com website. These professionals know their neighbourhood and can guide you in the right direction. 

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The information shown here is complied from source data obtained from the Toronto Real Estate Board. It is presented here for information purpose only. All data are subject to updates and revisions. The author assumes no responsibility for the accuracy of any information shown