Fastest selling areas in Toronto

Here's your quick summary of the areas to sell the fastest in Toronto from August 8-14, 2022.

The market seems to have shifted a bit from last week with condos seeing a 5% increase in number of units sold is less than 7 days (8.5% vs. 13.63%) which does give some indication that buyers are acting faster as we approach the end of summer.

One of the interesting stats that stands out for this week is that houses & condos now have the same % of listing price (98%).

What this essentially means is that both sectors are now seeing negotiation from their list price whereas last week home sales were at 100% of list price (i.e. no negotiation).

Houses

Of the 152 homes to sell in Toronto during this period, 35 sold under 7 days on market (23.02%).

Areas with fastest sales
Bedford Park: 2 sales | Average DOM (Days on Market) = 3.5
Mt. Pleasant: 2 sales | Average DOM = 5
The Beaches: 3 sales | Average DOM = 3.6

Condos

Of the 198 condos to sell in Toronto during this period, 27 sold under 7 days on market (13.63%).

Areas with fastest sales
Waterfront Communities: 4 sales | Average DOM = 4.25
High Park: 2 sales | Average DOM = 4

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.