Toronto Real Estate Update - East End Neighbourhoods
In January 2012 there were 145 sales of all home types recorded in Toronto's east end neighbourhoods including: Leslieville, Riverdale, The Beach, Danforth Village and Playter Estates. A limited supply of homes led to many multiple offers and an average 101% list to sale price ratio. The average time on market was just 19 days. Julie Richardson, sales representative at Bosley Real Estate Ltd. explains that there is "just not enough product at the moment." Richardson adds "we are seeing very very good prices realized for homes on the market that are priced properly however overpriced listings are sitting on the market as buyers are doing their homework and are more informed than in the past".
The Beach neighbourhood has the highest averages for a detched home in the east end at $800,000. Semi-detached homes are most expensive in the Riverdale and Playter Estates neighbourhoods. Danforth Village continues to be the most affordable neighbourhood in the east-end where the average price of a deatched home is $544,000. If your looking to purchase a home in the hot Leslieville neighbourhood you will most likely be looking at a semi-detached home in the $475,000 range. Demetre Politis, Sales Representative at Your Choice Realty Corp has been showing houses in The Beach and Danforth Village neighbourhoods and informs that "there are alot of buyers looking but not enough listings which has resulted in prices edging up a little bit from last year". Politis has noticed "a few more listings coming on the market in the last week or two" and is hopeful that soon there will be more product available to buyers."
The best way to find a home in Toronto's east-end, is to contact one of the highly experienced and successful real estate sponsors that can be found on the 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
