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

North Toronto Houses 2019 1st Quarter Report C04

Toronto Real Estate Sales C04

North Toronto Houses - 2019 1st Quarter Report

Including: Bedford Park, Forest Hill North, Lawrence Park and Englemount

Freehold houses

Detached houses in North Toronto often sit on wide lots. Older houses tend to be purchased by builders and replaced with new construction.North Toronto property sales in the first quarter of 2019 were higher by 31 percent than in the first quarter of 2018. On a year-over-year basis, again for all property types, prices increased by only 3.0%. And the average time required to sell a house was just over 3 weeks, longer by 4 days from the same period of 2018.

Average prices of detached homes dropped by 1.3%, and the average price for semi-detached houses increased by 8.5%, although with only nine semis sold, that increase is likely due to the size or quality of homes sold.

Detached houses were selling, on average, below asking price. Eighteen only sold above asking, ranging from 101% to 115%, while 56 sold below the list price and four sold for full price. Four semi-detached houses sold above asking, one for full price, and four below. The only townhouse sold in this period received 92% of the asking price.

The highest percentage above asking, 120%, was paid for a lovely 3-storey 4 bedroom semi in Lawrence Park North near Yonge and Lawrence. It was listed with an asking price of $1,499,000, and sold for $1,802,000. That is $303,000 over asking.

The lowest percentage of the listing price, 80% (or $249,000 below asking price), was paid for a 1954 2-storey detached house listed in later November 2018 for $1,295,000. The price was lowered after just over one week but it took 73 days to sell.

28 listings (almost one third) were sold within the first week of market exposure. Ten (or 11.4%) of the listings sold in the first week did not receive full price. One house was sold on the day listing was signed, four took only one day to sell, and the longest time, 128 days, was needed for a two storey house in Cricket Club, in need of renovation listed in later October 2018.

Bedford Park

28 detached houses and one semi-detached were reported sold in the first quarter of 2019. The average price of detached residences was $2,097,857. The semi was sold for $1,640,000. The average time required to sell was 27 days, ranging from two to 128. The lowest price was $1,000,000, paid for a 3 bedroom house around Yonge and Wilson, being advertised as a "renovation project". The highest, $4,025,000, was paid for a new, custom built home on a wide lot in Cricket Club. That listing took only 10 days to sell, and sold for 99% of the original listing price.

Two sales fell through. One, a house listed in Lytton Park for $2,099,000, was sold firm on January 2nd, but the sale fell through on January 18th and the listing was canceled on March 4th. Another, a wide bungalow at Bathurst and Glencairn, listed for $2,189,000, was sold on February 23rd, and that sale fell through at the end of May.

Engelmount

Fourteen detached homes were sold in Engelmount in the first quarter of 2019. The average selling price was $1,597,966. 85.7% of houses sold below asking. The lowest percentage, 92%, was paid for an older 1.5-storey house on a 45 by 120 feet lot at Bathurst and Lawrence. The highest, 104%, was paid for a 2 storey centre hall in the same area, listed under 1.2 million and sold for $1,250,000.

Forest Hill North

Six detached homes were sold in the area, at an average price of $2,126,000. Three sold below asking price, three above. The lowest price, $1,650,000, was paid for a 4 bedroom house advertised as "live in, renovate or build new". The house took three weeks to sell, and it sold for $93% of the asking price. The highest price, $3,175,000, was received for a renovated, beautifully staged residence on a nearly 52 feet wide west facing lot. That house took only three days to sell, with no date set for receiving offers.

Lawrence Park North

Twelve detached and seven semi-detached houses were sold in Lawrence Park North in the first three months of 2019. The lowest price, $999,000, was paid for a wide 3 bedroom semi being sold "as is" near Yonge and Lawrence. The highest, $2,710,000, was received for a newly built in 2018 modern residence near Yonge north of Lawrence.

Ten listings were sold within one week, another one in eight days. The longest time required for marketing was 102 days, for a nearly 20 year old house in John Wanless school district. It was originally listed at the beginning of November, asking for offers on November 6. It didn't sell on that date, was suspended over the holiday season and put back on the market with an increased price on February 11th to sell on the same day for 99% of the new list price. The lowest percentage, 93% of the listing price, was paid for a custom built two storey detached house in John Wanless school district. The highest, 120%, for a lovely 3-storey semi at Yonge and Lawrence, listed just under 1.5 million, and sold for $1,802,000, with multiple offers.

Lawrence Park South

18 detached homes, one semi and one townhouse were sold in Lawrence Park South for an average price of $2,416,099. One was sold in two days, one in three, one in four and two in six days. Remaining fifteen took from 8 to 82 days. The longest time on the market was 82 days for a traditional 3 bedroom house at Avenue Road and Eglinton. The house was in one family for 50 years, had original features, but needed updates. Listed in early November 2018 it had a price reduced before Christmas, and finally sold near the end of January. The lowest percentage of the list price, 90%, was paid for a large centre hall residence in Lytton Park. The highest, 115%, was received for a 4 bedroom house on a 50 by 175 feet lot, sold under power of sale, listed for $2,200,000 and sold for $2,520,070.

A new house, listed with an asking price of $5,495,000 was sold on March 11, but the sale fell through three days later. The listing was terminated on March 14th.

Detached Houses

North Toronto detached house North Toronto   2019     2018   Difference
House Sales   78     59   + 32.2%
Homes Average Price   $2,064,583     $2,091,988   - 1.3%
New Listings   232     193   + 20.2%
% of Sales Price to Listing Price   97.3%     101.4%   - 4.1%
Days on Market   23     18   + 5

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
Bedford Park 28 $2,097,857 95 28 96.6%
Englemount 14 $1,597,966 39 25 96.4%
Forest Hill North 6 $2,126,000 16 12 99.1%
Lawrence Park North 12 $1,870,667 31 21 98.5%
Lawrence Park South 18 $2,484,554 51 19 97.7%

Semi-detached Houses

North Toronto typical semi-detached two storey house North Toronto   2019     2018   Difference
House Sales   9     7   + 28.6%
Homes Average Price   $1,403,111     $1,292,698   + 8.5%
New Listings   14     7   + 100.0%
% of Sales Price to Listing Price   102.0%     100.1%   + 1.9%
Days on Market   9     19   - 10

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
Bedford Park 1 $1,640,000 1 9 98.0%
Lawrence Park North 7 $1,369,714 12 9 103.0%
Lawrence Park South 1 $1,400,000 1 8 101.0%

Attached Houses (Freehold Townhouses)

North Toronto freehold townhouses (attached houses) vary in style and size North Toronto   2019     2018   Difference
House Sales   1     1   - 0.0%
Homes Average Price   $2,200,000     $980,000   + 124.5%
New Listings   2     3   - 33.3%
% of Sales Price to Listing Price   92.0%     98.0%   - 6.0%
Days on Market   51     4   + 47

 

  Sales Average Price New Listings Days on Market % Sold Price / List Price
Lawrence Park South 1 $2,200,000 2 51 92.0%

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