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.