In the fourth quarter of 2014, there were 26 houses sold in Toronto’s Rosedale and Moore Park neighbourhoods. Six of these were at the high end of pricing being over $2 million. Q4 2015 saw 24 sales, 10 of which sold above $2 million. The 2015 market as a whole had low inventory and high Buyer interest. This was reflected in Rosedale’s average sale prices; $1,769,423 in Q4 2014 and $2,038,818 in 2015. The price jump represents a 15.2% increase – well in excess of the whole market average.
The consistent average sale-to-listing ratio of 102% shows Sellers getting more than their asking price, but without the “feeding frenzy” that often characterize multiple offer situations in other parts of the city. The average number of days it took a house took to sell decreased from 17 days to 16 days. This suggests that while Buyers are eager, they are “keeping their heads.”
Downsizers wishing to stay in the neighbourhood paid an average of $698,220 for a condominium in Q4 2015. This is 23.8% higher than 2014’s average of $563,958. This year, 4 condos sold for above $1 million. In 2014, only 2 were above the million mark. The sales to listing price ratio was 99% in both years, while days on market fell from 18 to 15. There were 19 sales in Q4 2014 and 28 in 2015. The picture is one of keen interest as empty nesters and others snap up neighbourhood condominium offerings.
Rosedale-Moore Park continues to be one of Toronto’s most sought-after neighbourhoods making its homes and condos a sound investment.