Avenue and Lawrence Market Update - Fall 2008

November

Sales in the Avenue and Lawrence neighborhood were down significantly this month by -72%, as economic woes continued to drive buyers into hiding. The average price of a home at Avenue and Lawrence was down -32% to $562,533 this month.

Average days on the market at Avenue and Lawrence was up 74% to 40 days, from the 23 days we were seeing in September 2007. The average sold price as a percent of list has gone from 103% to 96%.

October

Sales in the Avenue and Lawrence neighborhood were consistent with the Central Toronto market, at -43%. The average price of a home at Avenue and Lawrence was down -18% to $592,997 this month.

Average days on the market at Avenue and Lawrence is up 17% to 27 days, from the 23 days we were seeing in September 2007. The average sold price as a percent of list has gone from 103% to 97%. October was a hot month for bidding wars at Avenue and Lawrence homes last year.

September

The high demand neighborhood of Avenue and Lawrence has not been shielded this month from the turn we are seeing in the market. Sales are down -19% at Avenue and Lawrence and the average price of a home at Avenue and Lawrence  is down -17% to $613,452.

Average days on the market in Avenue and Lawrence is up a significant 82% to 40 days, from the 22 days we were seeing in September 2007. The average sold price as a percent of list has gone from 100% to 97%. Good news for buyers who were ready to throw in the towel on those bidding wars.