Marisha  Robinsky

Marisha Robinsky

Sales Representative

Forest Hill Real Estate Inc., Brokerage*

Mobile:
416.318.1457
Office:
416-755-0123
Email Me
Marisha  Robinsky

Marisha Robinsky

Sales Representative

Forest Hill Real Estate Inc., Brokerage*

Mobile:
416.318.1457
Office:
416-755-0123
Email Me

Beaches Toronto Real Estate 2019 3rd Quarter Report E02

Toronto Real Estate Sales E02

The Beach Houses - 2019 Third Quarter Report

Including: The Beaches, East End-Danforth and Woodbine Corridor

In the the third quarter of 2019 125 single family houses were sold in the Beaches. The average price was $1,249,217; average ratio of sold to list price was 106% (slightly lower than in the second quarter); average time required to sell a house was two weeks.

The lowest percentage of the listing price, 87%, was paid for a semi-detached house on a 25 by 110 feet lot, being sold as 'estate sale'. It was listed mid-June with an asking price of $1,250,000, and sold after nearly two months for $1,086,500. The highest, 143%, was paid for a renovated 2-storey detached house with a private drive and single garage space, in Upper Beaches. It was listed with an asking price of $1,099,000, and sold for $1,571,000 one day after the day set for reviewing offers.

Five houses were sold on the day the listing was signed (no offer dates were advertised for two of them, three were sold with bully offers); seven took just one day to sell; seven sold in two days; 61 were sold within the first week of market exposure.

Only 13 listings received preemptive (bully) offers. The proportion of listings, however, which set a date for reviewing offers was relatively small. 65 listings sold above the asking price, and the proportion of sale to list price ranged from 101% to 143%. 14.4% of listings received 120% or more of the listing price. The largest amount of money, $572,000 paid above the asking price, was received for a renovated 2-storey detached house in Upper Beaches.

The lowest price, $491,000, was paid for a tiny 1 bedroom semi-detached house without parking on a busy street. The highest price, $3,250,000, was paid for a contemporary residence in prestigious Fallingbrook neighbourhood. Listed mid-June, just at the beginning of the summer, it took just over two months to sell, and eventually received 94% of the asking price.

The Beaches

Average selling price in The Beach for the 54 single family houses sold in the third quarter was $1,474,695. That was approximately $100,000 less than in the second quarter. Average ratio of sold to list price was 103%, again slightly less. Average time required to sell a house was 17 days (four days more). One house was sold on the day the listing was signed; five were sold in one day (only one of them had a date set up for offers and received a bully offer); and another 17 between two and seven days. The longest time required to market a listing was 71 days, for a new, 3-storey detached house, built in a traditional style. It was listed at $2,795,000 towards the end of June, and it eventually sold, after nearly two and a half months of marketing, for $2,655,000.

Nine houses sold over two million, and only thirteen sold below one million.

Woodbine Corridor

Average selling price for the 26 houses sold in Woodbine Corridor was $1,056,300 ($41,000 more than in the previous quarter), with an average ratio of selling to listing price of 110%, and the listings sold, on average, in 13 days. Two houses were sold on the day the listing was signed, and 15 took longer than a week. The longest time on the market was 52 days, for a semi-detached house on a 25 by 110 feet lot, being sold as 'estate sale'. Listed with an asking price of $1,250,000 on 14th of June it had an offer review date set up for June 25th. It did not sell, sold eventually on August 5th for $1,086,500.

16 houses sold over one million, with the highest price $1,571,000, for a pleasant 2-storey detached house in Upper Beaches with a private drive and a single garage. The lowest price, $491,000, was paid for a tiny 1 bedroom semi-detached house without parking on a busy street.

East End - Danforth

Average selling price for the 44 houses sold in East End - Danforth was $1,062,154 ($19,000 higher than in the second quarter). The average percentage of listing price was 107%, and the average time required to sell a listing was 11 days. Twenty seven houses sold within one a week, with two sales on the day the listing was signed, two in only 1 day and another two in 2 days; and only seven required more than two weeks. The longest time needed to sell a listing was 135 days, for a 4 bedroom detached house at Gerrard and Main. It was listed in mid-April, sold conditionally at the beginning of August, but the sale fell through, and it took another month to finally sell. It was, nevertheless, sold for the full asking price.

The lowest price, $720,000, was paid for a 2 bedroom two storey semi with a single car garage at Danforth and Main. The highest, $1,599,000, was received for the same house that lingered the longest on the market.

Detached Houses

Many of the detached Beach houses are impressive mansions. The Beaches Toronto   2019     2018   Difference
House Sales   49     42   + 16.7%
Homes Average Price   $1,484,232     $1,499,188   - 1.0%
New Listings   93     73   + 27.4%
% of Sales Price to Listing Price   103.5%     104.0%   - 0.5%
Days on Market   14     18   - 4

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
East End-Danforth 18 $1,143,822 25 15 106.3%
The Beaches 25 $1,804,261 61 14 100.5%
Woodbine Corridor 6 $1,171,833 7 11 115.8%

Semi-detached Houses

Semi-detached Beach houses vary in style and size. While some are small, particularly on several streets close to Woodbine or on Victoria Park in the east, some are just as large as a spacious detached home. The Beaches Toronto   2019     2018   Difference
House Sales   70     41   + 70.7%
Homes Average Price   $1,081,110     $1,027,994   + 5.2%
New Listings   89     51   + 74.5%
% of Sales Price to Listing Price   105.8%     109.2%   - 3.4%
Days on Market   13     7   + 6

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
East End-Danforth 24 $1,013,120 28 9 105.5%
The Beaches 27 $1,188,519 39 19 104.3%
Woodbine Corridor 19 $1,014,357 22 11 108.7%

Attached Houses (Freehold Townhouses)

Attached homes are also called townhouses or row houses. Many new townhouses were built on the former Woodbine racing track grounds. The Beaches Toronto   2019     2018   Difference
House Sales   6     9   - 33.3%
Homes Average Price   $1,062,833     $925,543   + 14.8%
New Listings   8     16   - 100.0%
% of Sales Price to Listing Price   106.0%     103.8%   + 2.2%
Days on Market   13     10   + 3

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
East End-Danforth 3 $926,667 4 5 111.3%
The Beaches 2 $1,218,500 6 15 102.0%
Woodbine Corridor 1 $1,160,000 1 34 97.0%

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