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This November has been very active with prices on the rise and an extraordinary number of luxury sales closing. 141 homes and condo's sold.
The average price of a detach 2-storey home has almost returned to the March 2022 peak of $2.7mm. November 2024's average 2-storey home selling price was $2,657,043. That's more than $400,000 over this October's average selling price.
Detached bungalows came in at $1,754,300. Semi's and Links average cost were $1,033,500 and $1,197,500, respectively. Freehold and condo THs were $1,187,333 and $788,500. Condo apartments and Stacked THs went for $850,542 and $626,167.
48 properties were leased. The lowest was $2100/mth for a 542SF 1 bedroom 1 bathroom 1 garage apartment at Dundas and Bronte Rd and the highest was for a detached 4BR double garage executive 2-storey home that went for $6500/mth + utilities.
At the moment there are 412 properties available for sale and 147 for lease. 34 of those for sale are asking above $4mm with 4 asking above $10,000,000. WOW! $2,100 is the cheapest lease listing at the moment.
Looks like we will see at least a 1/4 point reduction in interest rates in a few days, This should spur on some of the on the fence buyers to take the plunge and buy a place.
Merry Christmas!
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