The Junction Area West Toronto Houses 2016 2nd Quarter Report W02

 

The Junction Toronto   2016     2015   Difference
House Sales   46     60    - 23%
Homes Average Price   $800,368     $685,643   + 17%
New Listings    58     69   - 16%
Active Listings    9     15   - 40%
% of Final Sales Price to Listing Price   115%     106%    + 8%
Days on Market   8     11   - 27%

 

The Junction West Toronto real estate market continues to be an extremely strong sellers market. My greatest concerns in this area is the very low inventory in regards to the high prices. Now, if you are a seller this is a very good thing. The number of house sales in the Junction Toronto continued to drop over last year by 23% with 45 transactions compared to 60 a year earlier. Prices again jumped by 17% to over $800,000 in The Junction. y greatest concerns have to do with the fact that new listings dropped by 16% this quarter to only 58 new listings and active listings at the end of the quarter were down by 40% to just 9 properties available for sale.

Due to low inventory sellers were receiving 115% of asking price and homes were selling in just over a week. If inventory continues to be as low as the past few quarters we will see prices continue to climb and homes being sold in a short time with bidding wars and bully offers.  

Overall in this area if you are looking to sell your home now is a strong time to pt it on the market as inventory is low and you can gain your greatest value in this time of market. For the buyers be patient look to find your best value and make sure you are working with a agent very familiar to the area.