Now is the time to sell!
(Plus the numbers that the Toronto Real Estate Board does not share with the media)
TORONTO, Palace Place – May 3, 2023
The month of April had marked a gradual improvement for Toronto’s real estate resale market, which had resulted in decreased sales, as the Toronto Real Estate Board had reported 7,531 sales of single-family dwellings in April 2023.
Total sales were down by 5.2% from the 7,940 sales that had been recorded in April 2022, and total sales had increased by 9.2% from the 6,896 sales that had been recorded in March 2023.
- The April average price had increased by 4.02%.
The average price in April 2023 had decreased by 7.8% to $1,153,269 from $1,250,704 in April 2022. The April 2023 average price had increased by 4.02% from the March 2023 average price of $1,108,606.
Looking just at the City of Toronto for April 2023, the average price for a detached home had been $1,787,752, which had decreased by 8.2% from $1,947,975 in April 2022. The average price for a condominium apartment had totalled $751,916 in April 2023, which had decreased by 8.3% from $820,835 April 2022.
- Active listings had decreased year over year.
The number of active listings in April 2023 had increased by 2.5% to 10,373 from the 10,120 active listings in March 2023 and had decreased by 20.8% from the 13,092 active listings in April 2022.
- The Humber Bay Shores average price had totalled $778,224.
Condominium apartment sales in the W06 west district that represents Humber Bay Shores had decreased to 54 sales in April 2023 from 73 sales in March 2023. The average condominium price in this district had totalled $778,224 in April 2023, which had increased by 3.5% from $751,935 in March 2023.
Where is the market?
To date in 2023, there had been 153 sales of condominium units that had been soldfor under $750,000 in the Humber Bay Shores area.
During this time, there had been 93 sales of condominium units that had been sold for above the $750,000 price point. Of that amount, there had been 63 sales of condominium units that had been sold for between $750,000 and $1,000,000. Of those, 1 sale was from Palace Place, 1 was from Palace Pier, and 2 were from Waterford.
So far, there had been 24 sales of condominium units that had been sold for between $1,000,000 and $1,500,000. Of those, 5 sales were from Grand Harbour and 3 were from Marina Del Rey.
Finally, 6 sales were sold for over $1.5M. Of those, 2 sales were from Grand Harbour, 1 sale was from Marina Del Rey, and 1 sale was from Ocean Club.
Vita on the Lake, 70 Annie Craig Drive, which is the newest condo tower in Humber Bay Shores, had experienced 10 sales since January 1, 2023, with prices that had ranged from $899,000 to $1,495,000.
To view the Palace Place Price Chart, click here:
To view the Mirabella Condos Price Chart, click here:
To view the Waterford Price Chart, click here:
For a breakdown of market stats by neighborhood, click here:
By Luke Dalinda
Follow @LukeDalinda on Instagram!
Luke Dalinda, Realtor. Royal LePage Real Estate Services Ltd., Brokerage.