Weston Toronto Houses 2016 2nd Quarter Housing Sales Report 

 

Weston Toronto   2016     2015   Difference
House Sales   54     64   - 16%
Homes Average Price   $497,126     $388,210   + 28%
New Listings   74     102   - 27%
Active Listings   19     39   - 51%
% of Final Sales Price to Listing Price   105%     99%    + 6%
Days on Market   15     21   - 39%

 

Weston Toronto Real Estate market had a very strong quarter.  Sales continued to decline for the 3rd quarter in a row but this is due to the low inventory in the Weston Toronto area. Prices continue to grow rapidly at 28% so that the average price in this area has almost hit $500,000 for a property. New listings dropped by 27% to only 74 listings this is the 1st time where we have seen less than 100 listings on the market. Active listings at the end of the quarter has dwindled to under 20 listings this is a  drop of over 50% compared to the same time last year.

Due to the low inventory we are seeing sellers get 106% of their asking price and the homes are selling in just over 2 weeks.

This will remain the story until we see inventory rise. If you are debating on selling your house get it on the market now as we will not see this market remain the norm for an extended period of time. It is important that the sellers are working with local knowledgeable agents who understand the Weston real estate market. Going with an outsider could cost you 10's of thousands of dollars in both buying and selling real estate.      

 

 

 

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