By Michael McCann
As a Birch Cliff realtor, I am often asked by our neighbours for my opinion on local house prices. Many people are aware of national and Toronto statistics, but in Birch Cliff News I’ll be providing information on local housing sales to give you a sense of how trends are playing out in our community.
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
Here are the statistics for Birch Cliff / Cliffside for the last three months, as provided by the Toronto Real Estate Board.
Birch Cliff – Cliffside Home Sales in March 2012 – 29 homes sold
Birch Cliff – Cliffside Home Sales in April 2012 – 42 homes sold
Birch Cliff – Cliffside Home Sales in May 2012 – 28 homes sold
Let’s have a look at what the Birch Cliff housing market has been doing over the last three months. In March, the start of the spring market, the average sold price was $526,497 and by the end of May the average sold price was $565,717, an increase of almost 7.5%. The shortest days on market for all three months was one day, but we averaged 15 – 23 days. The longest days on market was 197 days – taking over half a year to sell is a stellar example of an overpriced property.
I’m thrilled to be part of Birch Cliff News and to be a regular contributor on the local real estate market. With international and national housing markets experiencing collective uncertainty, I plan to focus on the impact on our community.
