Leaside's housing temperature continued to rise during the first six months of 2016.
In today’s dynamic real estate marketplace, when even the benchmark for what is considered luxury housing is changing, and increasing demand and low inventory levels create intensity, understanding how to best navigate it becomes not only necessary, but also, essential.
For a long time, $1 million was the benchmark for what was considered a luxury home. But now, the average price for a home in Central Toronto is $1.9 million, and a luxury home is considered to be closer to $3 million. A home in the price range of $1.2 – 1.7M in a popular neighbourhood only stays on the market for between 2–7 days, while luxury homes (over $3 million) sell within an average of 21 days.
Leaside is no exception, with an intensity driven by the increasing global recognition of our wonderful neighbourhood, fantastic schools, easy accessibility to the city core, and our numerous sports programs. I did an analysis of sales for the first six months of 2016 compared to the same time frame in 2015. Take a look at the chart and you will find the numbers speak for themselves. As low supply and an increase in demand will continue, you can expect a robust Fall Real Estate market.
So what is an astute buyer and seller to do in this extraordinary real estate environment? I believe the answer is to simply secure your position with timely information, in-depth knowledge, and an experienced professional. And choose an agent with a brokerage behind them that understands the importance of service excellence.