By Michael McCann
House sales continued to be robust throughout Toronto in March, with multiple offers seemingly becoming the norm.
Many buyers were starting to feel despondent about whether home ownership was in their immediate future.
The expectation is the strong seller’s market will continue for the first two quarters of 2014.
As we roll into spring I predict an even more frenzied housing market will emerge which continues to be fueled in part by low interest rates.
Birchcliff – Cliffside Home Sales in March 2014 – 42 homes sold
Source: Toronto Real Estate Board. Excludes commercial properties, condos and vacant land.
Birchcliff/Cliffside
- March 2013 we had 37 homes sold while March of this year 42 homes changed hands – up 13.5 percent
- March 2013 the average sold price was $623,762 while March 2014 the average sold price came in at $595,576 – a decrease of 4.5 percent
- March 2013 it took on average 20 days and in March 2014 homes in Birchcliff were taking 23 days to sell *
Toronto Real Estate Board
- 7,537 sales in March 2013 with March 2014 showing 8,081 sales – up 7.2%
- $517,232 average selling price March 2013 with March 2014 coming in at $557,684 – up by 7.8%
- March 2013 it took an average of 24 days to sell a home where March of this year 21 days – down 12.5%
* Now when you saw it took 23 days on average to sell a home in Birchcliff you might think our neighbourhood’s housing market might be cooling down.
In one word, “NO”! Looking at the days on market it took on the high-end 422 days for a very unique property to sell and this put an incredible weight on the average for the month. However, if you factor out that exceptional property our days-on-market come out to 13 days…one of the lowest in years for Birchcliff.
Normally spring is always a hectic time with buyers returning from their winter hiatus. We know April showers will slowly be bringing on May flowers, but it also could bring along one of the hottest housing markets we have experienced in years.
For a look at local real estate statistics over the last six months, click on the tabs.
[tabs slidertype=”top tabs”] [tabcontainer] [tabtext]Feb.[/tabtext] [tabtext]Jan.[/tabtext] [tabtext]Dec.[/tabtext] [tabtext]Nov. [/tabtext] [tabtext]Oct. [/tabtext] [tabtext]Sept. [/tabtext] [/tabcontainer] [tabcontent] [tab]Birchcliff – Cliffside Home Sales in Feb. 2014 – 23 homes sold [/tab] [tab]Birchcliff – Cliffside Home Sales in January 2014 – 15 homes sold [/tab] [tab]Birchcliff – Cliffside Home Sales in December 2013 – 17 homes sold [/tab] [tab]Birchcliff – Cliffside Home Sales in November 2013 – 30 homes sold [/tab] [tab]Birchcliff – Cliffside Home Sales in October 2013 – 32 homes sold [/tab] [tab]Birch Cliff – Cliffside Home Sales in September 2013 – 28 homes sold [/tab] [/tabcontent] [/tabs]
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
