Bedford Park Market Update - Fall 2008

November

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

Average days on the market in Bedford Park 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 Bedford Park neighborhood were consistent with the Central Toronto market, at -43%. The average price of a home in Bedford Park was down -18% to $592,997 this month.

Average days on the market in Bedford Park 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 on Bedford Park homes last year.

September

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

Average days on the market in Bedford Park 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.

While sellers may be mourning the death of the bidding war, just a friendly reminder to those who plan to buy - you will recoup your losses on the other side, and even more so if you plan to upgrade.