Avenue and Lawrence
August 2008
The cooling market has impacted sales in the Avenue and Lawrence, Toronto area this month, with sales down a significant -39% vs. August 2007. Average price has followed suit this month, with Avenue and Lawrence home prices down -5% vs. last year to an average price of $563,294.
Average number of days on the market increased significantly in Avenue and Lawrence, up 33% from 28 days to 42 days this month and the average % of list price achieved decreased from 101% to 96%.
While the numbers may seem a little daunting for sellers in the Avenue and Lawrence neighborhood of Toronto, bear in mind, these statistics are based off of a very strong August 2007 - a month where real estate has typically been at its slowest. Stay tuned for results from September - we shall see if the trend continues.
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July 2008
The cooling market has impacted sales in the Avenue and Lawrence, Toronto area this month, with sales down -26% vs. July 2007. Despite a reduction in home sales in Avenue and Lawrence, prices remain stable, increasing by 1% this month vs. July 2007 to an average of $690,144. A good sign that people are still willing to pay a premium to be in this great neighborhood.
Average number of days on the market increased significantly in Avenue and Lawrence, up 31% from 22 days to 32 days this month and the average % of list price achieved decreased from 100% to 97%.
While the numbers may seem a little daunting for sellers in the Avenue and Lawrence neighborhood of Toronto, bear in mind, these statistics are based off of a record-breaking July in 2007. It's hard to show growth when you are up against such a strong base. Sales were still up significantly vs. 2006 as are values.
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June 2008
Real estate continues to boom in the Avenue and Lawrence area of Toronto. With home sales up 4% vs. the central Toronto average of -18% and prices up a whopping 13% vs. the central Toronto average of 3%. Don't believe everything the media feeds you - sellers at Avenue and Lawrence are doing just fine as buyers continue to duke it out over good properties in this hot neighborhood.
Will this blissful stage ever end? Let's not get too comfortable. We have seen average number of days on the market at Avenue and Lawrence increase from 22 to 25 and the selling price as a percent of list at Avenue and Lawrence drop slightly from the inflated 102% to a healthier 98%.
