September had some mixed results.
A number of luxury homes sold relatively quickly with one standout which went for over $10mm in less than a week. It was for a large home on a large property so very impressive and not on the lake! Also many other properties moved well as well.
On the other hand some homes have been languishing and have had to resort to price reductions to ultimately get sold. And this is not unusual.
Prices are back up to the Spring of 2022 when we the average detached 2-storey homes sold for approximately $2.7mm, in March of that year. This September's average (including the $10.2mm sale) was $2,614,146. Backing that sale out you still have a healthy average sale price of $2,400,000.
Other sales values were as follows:
Detached bungalows averaged $1,219,333 sidesplits $1,610,000 backsplits $1,335,000 semi-detached $1,022,500 Linked homes $1,226,000 Freehold THs $1,073,563 Condo THs $888,714 Condo apartments $695,466 Stacked THs $743,333.
46 properties were lease during the month ranging in price from $2200 to $5500/mth. The lowest lease price was for a 1 bedroom 1 bathroom 544SF condo apartment in Westmount while the highest was for an executive 4 bedroom home in Lakeshore Woods in Bronte with just over 3,000SF of living space.
October should be a good month and heres hoping that the Fall colours will work their magic.
Stay tuned!
