May 2022 Minto Price Report

MAY 2022 MintoLongbranchPrices.ca

REPORT ON MINTO LONGBRANCH PRICES MAY 2022 CURRENT (MAY 2022) Average Asking Price: $1,099,500 Homes For Sale Now: 4 (see page 5) APRIL 2022 (latest complete month) Homes Sold: 2 Average Sold Price: $1,077,000 LAST 6 MONTHS (NOV thru APR) Homes Sold: 23 Average Sold Price: $945,474 Inside The Monthly Report gives you an in-depth look into the housing market in Minto + APRIL 2021 Sold Prices Longbranch and is an easy way to see what + MAY 2022 Current Listings your house may be worth. + Past Six-Month Trends + Analysis & Commentary Minto Townhouse Prices Report Courtesy of Mark Gaudet, Realtor AEA Right At Home Realty Inc Broker 416-551-6847 [email protected]

4 Homes Currently for sale Median Asking Price: $1.1m Price Range $999 - $1.19m Market Taking a Breather, But for How Long? Minto LongBranch, May 2022 ~ Minto, like many data today reveals that Minto, like the rest of the GTA is townhouse neighbourhoods, is a market unto itself. As feeling the effects of rising interest rates, inflation, etc. such, some of the market conditions that affect other areas are not always present here. Although pricing hasn’t yet been affected, there has been a decrease in the number of “bidding wars”. Currently, We’ve seen that over the past two years, particularly none of the homes for sale here are using that strategy, with the rate of turnover – the number of homes listed which just two months ago, was common. over divided by the number of homes in an area. Another sign of a market shift: in the last several weeks Although most of Etobicoke, including Long Branch and 60% of listings sold below asking price, whereas the the GTA have suffered from a lack of listings, the low previous average had been 13% above the asking price. inventory problem hasn’t been a real issue at Minto. Also unusual is that two homes currently listed have been on the market for a combined total of 4 months. In fact, our turnover rate has in the last two years been more than double that of many other communities. This is not the sky falling by any means. But after the Interestingly, this decent supply hasn’t had a negative quick escalation of pricing in the past 24 months, higher impact on pricing. interest rates and buyer fatigue are having an effect. How long that lasts remains uncertain. For now, it’s a Quite the opposite: with demand so high and our release of some of that hot market air. townhouses comparatively affordable, we’ve still managed to see an increase in median values of 34.8% I have a large townhouse in Bramalea coming up over two years. April’s median price was $1.07 million. soon. If you know someone who might need a starter home, please let me know. However, taking a closer look at some of the market ~ Mark Gaudet, Realtor, BA, AEA 416-551-6847

APR Latest MAR Seasonally APR Year- 2022 complete 2022 adjusted 2021 to-Date month New Added Listings: 6 New Added Listings: 11 New Added Listings: 19 Homes Sold: 2 Homes Sold: 4 Homes Sold: 8 Avg Sold Price: Avg Sold Price: Avg Sold Price: $1,077,000 $935,750 $914,075 Median Sold Price: Median Sold Price: Median Sold Price: $1,077,000 $992,500 $897,500 Avg Days on Market: 7 Avg Days on Market: 9 Avg Days on Market: 6 Terminated or Expired: 1 Terminated or Expired: 3 Terminated or Expired: 6 Minto Longbanch 12 Month Avg Sale Price 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr Avg Sold Price

Past 6 Months (23 Homes Sold) Past 6 Months Statistics with House Type & Style $950,000 $891,321 $890,190 $945,474 BEDROOMS $940,000 Sold Price $930,000 1 Bedroom - 2 $920,000 1+ Bedroom - 1 $910,000 2 Bedroom - 17 $900,000 2+ Bedroom - 0 $890,000 3 Bedroom - 3 $880,000 3+ Bedroom - 0 $870,000 $860,000 List Price Original Price Here we compare two COMPARING 6-MONTH RANGE sets of 6-month sales OF AVERAGE SOLD PRICES averages from one year to the next to give us a Prev Yr Six Months (39 Sold) Current Six Months (23 Sold) better idea of market trends. 774,259 822,680 796,603 829,431 803,553 845,459 789,140 858,628 775,543 856,050 764,846 846,580 772,916 867,055 773,619 861,711 759,593 888,177 772,204 892,294 789,778 893,925 822,219 945,474 DEC/MAY JAN/JUN FEB/JULY MAR/AUG APR/SEP MAY/OCT JUN/NOV JUL/DEC AUG/JAN SEP/FEB OCT/MAR NOV/APR

*Updated May 2, 2022 Thinking of moving to a freehold in the area? Get our latest report on Alderwood House Prices Visit: AlderwoodHousePrices.ca

*As of April 30, 2022 1,200,000 14 1,000,000 1,044,900 1,077,000 1,077,000 12 919,132 953,229 875,000 10 800,000 8 600,000 6 4 400,000 2 200,000 0 0 Days on Percent Market Sold Minto Longbranch Over Toronto Average List Average Sold Average Sold Minto 7 Price Price Median Price Longbranch 11 Asking 1,044,900 1,077,000 1,077,000 Toronto 3 919,132 953,229 875,000 12 Minto Longbranch Toronto Minto Longbranch Toronto

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