By Michael McCann
Birchcliff / Cliffside bucked the trend this month by showing a surge in housing sales.
There were 27 homes sold in the neighbourhood in November, which is a 40% increase over the 19 homes sold in October.
Local sales are also strong when you look at the numbers year over year.
There were 23 homes sold in Birch Cliff /Cliffside in November 2011 compared to 27 in November 2012 – an increase of 17%.
Birch Cliff – Cliffside Home Sales in November 2012 – 27 homes sold
Source: Toronto Real Estate Board. Excludes commercial properties, condos and vacant land.
In comparison, The Toronto Real Estate Board (TREB) reported the number of sales in the GTA last month down by 16% from last November.
Nationally, the Canadian Real Estate Association reported a drop of 11.9 from last November. In the Globe and Mail, CREA’s chief economist Gregory Klump blamed slumping sales nationally on tighter mortgage rules introduced by the federal government this summer.
Condo sales way off
In Toronto, the downtown condominium market took the biggest hit, with sales off a whopping 25% and my thoughts are that buyers see our neighbourhood as desirable and affordable, therefore we experienced an increase.
Despite the gains made in the number of sales, however there were losses in terms of homes experiencing more days on market. On average it took nine more days for a home to sell in November compared to October. The longest time on market was 66 days in November versus 52 in October.
Now, most buyers have turned their thoughts to Christmas as the attendance at my open houses has been dropping off.
I would like to take this opportunity to wish Birchcliff/Cliffside all the best for the holidays.
Previous months
Birch Cliff – Cliffside Home Sales in October 2012 – 19 homes sold
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[tab]Birch Cliff – Cliffside Home Sales in September 2012 – 19 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in August 2012 – 27 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in July 2012 – 23 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in June 2012 – 29 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in May 2012 – 28 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in April 2012 – 42 homes sold
According to the Toronto Real Estate Board, our local housing market is defined as Birch Cliff/Cliffside and the boundaries can be seen below.
View Birch Cliff / Cliffside in a larger map
