Fastest selling areas in Toronto | August 22-28, 2022

Here's your quick summary of the areas to sell the fastest in Toronto from August 22-28, 2022.

The housing market saw an abrupt uptick in sales last week rising from 106 sales in the proceeding week to 147 last week which works out to a 38.6% increase.

Condos kept stride with this large week-over-week change increasing from 150 sales in the proceeding week to 197 last week (+31.3%).

This is a pretty clear indicator that the market is starting to pick up after a strong summer slump that has seen sales drop by 50% compared to the same time last year.

Additionally, home prices are seeing less negotiation with the average % of listing price working out to 100% (i.e. they get the list price they're asking for) while the condo market is still seeing some negotiation at an average of 99% of listing price.

Condos

Of the 197 condos to sell in Toronto during this period, 21 sold under 7 days on market (10.65%).

Areas with fastest sales
Waterfront Communities: 2 sales | Average DOM = 3
Church/Yonge Corridor: 3 sales | Average DOM = 4

Houses

Of the 147 homes to sell in Toronto during this period, 38 sold under 7 days on market (25.85%).

Areas with fastest sales
Lawrence Park: 2 sales | Average DOM = 3.5
Woodbine - Lumsden: 2 sales | Average DOM = 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.