Did you know that there is no Multiple Listing Service in New York? If you want to buy an apartment in Manhattan, you might well feel the task of consulting many brokers to make sure you are not missing anything to be too time consuming.
The Toronto Real Estate Board is the largest in the world. Its broker members (who over the years have paid for it all) have access to sales information for property listed by their competitors. Toronto Buyers need only find an Agent they trust and our market can be explained to them in detail.
Rosedale-Moore Park Real Estate Price Report, Q2 2015
Rosedale - Moore Park real estate performed well in the 2nd quarter of 2015 as compared to the same time period in 2014. The average sale price of a detached house rose by 5% from approximately $2.5 to $2.6 million. The number of sales dropped, reflecting an overall Toronto trend of fewer listings in the 416 area. On average, Sellers got their asking prices. The number of days a listing took to sell dipped to 18 – a fast market for an area of high end properties.
There are far fewer semi-detached houses in Rosedale than detached, as is reflected in the small number of sales. The average price rose sharply from $2 million to $2.2. Note that in a market sample this size, averages may be skewed by individual sales. On average, buyers were willing to pay 98% of the asking price. The number of days it took a house to sell rose by 92%, but remained under a month. These are good indicators of a healthy market.
The neighbourhood has relatively few condominium developments, but did sell 36 units in Q2. Average sale prices were up by 36%, making the going rate just under $1 million. It remains to be seen whether this level of increase is a market blip or a trend. There were bidding wars, as shown by the Sales-to-List price ratio of over 100%. Condos flew off the shelves as the days on market (DOM) went down to 2 ½ weeks.
Overall, the Rosedale market is thriving, with any sharp dips or peaks attributable to the relative smallness of the sample. As Toronto’s first choice in high end neighbourhoods, it continues to hold its value.
In 1886, developer Simeon Janes created a subdivision just outside Toronto’s border. He called it “The Annex” since it was about to be added, or annexed to the city. He gambled that Toronto’s burgeoning middle class would be attracted to luxury real estate set on tree-lined streets. His instincts made him a fortune, and the residences in the neighbourhood known as The Annex are as sought after today as they were in 1886.
Many Annex houses take their cue from the work of E. J. Lennox, the premier architect of the time. A Toronto native, Lennox created such landmark structures as the Old City Hall and Casa Loma. 37 Madison Avenue, designed by Lennox in 1887, blended Richardson Romanesque and Queen Anne architectural styles. Rounded arches over doors and windows, decorative turrets and the use of Credit River sandstone remain the hallmarks of a Lennox-style Annex home.
The Annex is located north of Bloor Street West and west of Avenue Road. It is bordered on the north by Dupont Street and on the west by Bathurst Street. Drivers can reach The Annex through its border streets, but parking in the neighbourhood can be difficult. Fortunately, The Annex is served by three subway stations on the Bloor-Danforth line: St. George, Spadina and Bathurst.
In 2014, Annex real estate sold for an average of $2 million for a detached house and $1.5 million for a semi-detached. Annex condominiums sold for $800,000 on average, with some unit prices reaching into the millions.
The Miles Nadal Jewish Community Centre is located at the corner of Bloor Street and Spadina Avenue and offers a wide variety of fitness and recreational programs. Nearby Trinity St. Paul's United Church is home to a number of faith-based and artistic groups, including the Baroque orchestra Tafelmusik. Annex fixtures such as the Bloor Cinema, Lee's Palace and the Tranzac Club continue to offer a wide spectrum of entertainment options.
Bloor Street between St George and Bathurst Streets has a thriving “restaurant row” that offers everything from pub fare to fine dining. Students from the nearby University of Toronto’s St George campus join neighbourhood locals as they meet, eat, and watch the people go by.
The Annex offers houses of exceptional beauty set on quiet, shady streets. It also has a vibrant restaurant and entertainment strip, as well as family-friendly schools and community centres. These features make it one of Toronto’s premier neighbourhoods.
For University-South Annex neighbourhood highlights, click here.
The Toronto neighbourhood map displayed on this website was published in "Your Guide to Toronto Neighbourhoods", is copyright Maple Tree Publishing and has been reproduced by the Toronto Real Estate Board under license.