Longbranch Houses 2015 1st Quarter Report
Including: Forest Hill North, Lawrence Park, Bedford Park and Englemount
|North Toronto Toronto||2015||2014||Difference|
|House Sales||214||205||+ 3%|
|Homes Average Price||$496,613||$453,008||+ 9%|
|New Listings||693||568||- 12%|
|Active Listings||402||355||- 29%|
|% of Sales Price to Listing Price||101%||100%||+ 2%|
|Days on Market||30||37||- 12%|
|Sales||Average Price||New Listings||DOM||% Sold/Listing|
Sales in Longbranch continued to be strong increasing by another 3% in the 1st quarter of 2015. Prices continued to grow this quarter up over $40,000 by 9%. Longbranch has turned into one of Toronto's hottest market because it is one of the few areas that 1st time buyers are able to enter the market. I never expected to see the average price in this area to soar over 9% over the past year.
This area is still in high demand as we saw homes sell for more than 104% of listing price and in just over 3 weeks. New listings listings and inventory continued to drop which can mean prices will remain higher.
What I found interesting is how well the luxury homes sold in this area. They sold fast and over asking prices.The analysis shows if you are debating on selling your home, now would be an excellent time to place your home on the market as the inventory continues to be low.