Monday Market Report | Toronto Real Estate Analysis | November 14-20, 2022

Here's your week recap of what happened in the Toronto real estate market last week from November 14-20th, 2022.

These stats relate to the City of Toronto
(Lake Ontario -> North York | Scarborough -> Etobicoke)

Average Condo Prices

1-Bed = $537,370

  • 27 condos sold
  • Average % of list price = 99%
  • Average DOM = 28
  • Most affordable = $332,500 | 669 Sq. Ft unit with parking @ Gardiner & QEW (Etobicoke)
  • Most expensive = $809,000 | 830 Sq. Ft loft with parking in Leslieville

1-Bed + Den = $636,588

  • 38 condos sold
  • Average % of list price = 100%
  • Average DOM = 30
  • Most affordable = $405,000 | 871 Sq. Ft unit with parking @ Steeles & Kipling
  • Most expensive = $845,000 | 500-600 Sq.Ft ~ no parking @ Yonge & Bloor

2-Bed = $876,372

  • 54 condos sold
  • Average % of list price = 99%
  • Average DOM = 27
  • Most affordable = $455,000 | 1000-1200 Sq. Ft unit with parking & locker @ Kingston & Eglinton
  • Most expensive = $2,570,000 | 1200-1400 Sq. Ft unit with parking & locker in Yorkville

3-Bed = $899,050

  • 10 condos sold
  • Average % of list price = 103%
  • Average DOM = 17
  • Most affordable = $446,000 | 1200-1400 Sq. Ft unit with 3 parking @ Jane & Sheppard
  • Most expensive = $1,600,000 | 1912 Sq. Ft unit with parking @ Humber Bay (Etobicoke)

Average House Prices

2-Bed = $1,141,279

  • 19 homes sold
  • Average % of list price = 98%
  • Average DOM = 19
  • Most affordable = $600,000 | Detached bungalow with 2 parking @ Birchmount & Danforth
  • Most expensive = $3,380,000 | Detached bungalow with 4 parking @ Bayview & York Mills

3-Bed = $1,227,215

  • 81 homes sold
  • Average % of list price = 100%
  • Average DOM = 21
  • Most affordable = $700,000 | Detached 2-storey home with 3 parking @ St. Clair & Oakwood
  • Most expensive = $2,710,000 | Detached Backsplit home with 6 parking @ York Mills & Cedarwood

4-Bed = $2,033,601

  • 28 homes sold
  • Average % of list price = 96%
  • Average DOM = 26
  • Most affordable = $820,000 | Detached 2-storey home with 3 parking @ Weston & St. Clair
  • Most expensive = $5,500,000 | Detached 3-storey home with 3 parking @ High Park

Market Observations

Overall we saw quite similar amount of sales to the prior week however there has seemed to be a shift with more luxury properties being sold which has driven up the average price for many sectors.

  • The 1-bed condo sector saw more affordable units sold last week vs. the week prior
  • 2-bed units continue to be the most active sector for the condo market
  • 3-bed condos are selling for more than list price (due to lack of inventory)
  • Housing sector saw more sales in the luxury category ($1.5mil+), particularly for 4-bed homes
  • 3-bed home sales are still the most active overall

Be sure to check back next Monday for the latest Toronto real estate stats!

Let me know if you have any questions about the marketplace in the comments below or on Instagram @TorontoRealEstate.ca!

Rylie C.