Fastest selling areas in Toronto | August 1-7, 2022

Here's your quick summary of the areas to sell the fastest in Toronto from August 1-7, 2022.

Despite the media reports of a major downturn in the real estate market, we are still seeing multiple locations experience very rapid sales as inventory remains critically low.

Overall the housing sector seems to be moving quicker than the condo sector which is evidenced by the lower average days on market (18 vs. 25).

Additionally, there seems to be a little more negotiation going on in the condo sector with an average of 99% of list price for sales recorded last week (houses were 100%).

Houses

Of the 139 homes to sell in Toronto during this period, 34 sold under 7 days on market (24.46%).

Areas with fastest sales
Lawrence Park: 3 sales | Average DOM (Days on Market) = 2.33
Bedford Park: 2 sales | Average DOM = 3.5
Leaside: 2 sales | Average DOM = 1.5

Condos

Of the 200 condos to sell in Toronto during this period, only 17 sold under 7 days on the market (8.5%).

Areas with fastest sales
Waterfront Communities: 4 sales | Average DOM (Days on Market) = 2
Mimico: 3 sales | Average DOM = 2.33
Don Valley Village: 2 sales | 3.5

Be sure to check back next week for the latest stats!

Have any questions about buying or selling in today's market?

Feel free to message me on Instagram @TorontoRealEstate.ca !

Rylie C.