Etobicoke Sees Six Strong Months in Real Estate

Here is a really useful statistics report that gives a concise view of the Etobicoke real estate market through the first half of 2010.  It actually covers all the west districts as defined by the Toronto Real Estate Board.  I mostly focus on W01 (Swansea), W02 (Bloor West Village), W06 (South Etobicoke, Humber Bay, Alderwood, Mimico, New Toronto and Long Branch) W07 / W08 / W09 (Central Etobicoke).

There is one page for each district and a summary page at the end.  Find the page that covers the area of interest to you and go through the information.  I’m going to focus on W08 for some further analysis…

Properties Listed – this shows the large increase that has taken place.  This is just people hoping to sell their homes.  A total of 1,246 homes!

Sales – Here we see the homes sold year-to-date at 738 or about 60% of the homes that were put up for sale.  But the monthly figures for June shows that the pace of sales has declined from levels seen earlier in the year.

Days on Market – dropped to 22-days from 39-days through last year.  Many homes sell in the first week on the market, when setup with a offer deadline date resulting in bidding wars.  The statistics get evened out by the other homes that linger on the market for much longer.

Prices – Clearly selling prices are well up from where the Etobicoke market was a year ago.  The bottom of the real estate market was hit in January 2009.  There are many measures of prices.  The mix of big homes, small homes, 500-sq foot condos and mega-mansions changes from month to month, making a close interpretation of prices impossible.  These numbers are useful for understanding the bigger trends in the marketplace.  Selling prices are up anywhere from 5% to 10%. 

Generally, we are in a balanced market that is full of opportunities for both buyers and sellers.  I’d be happy to explain how the data in this report relates to your particular situation. 

Ralph Evans

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