FEB 2022 Minto Report

FEBRUARY 2022 MintoLongbranchPrices.ca

REPORT ON MINTO LONGBRANCH PRICES FEBUARY 2022 CURRENT (FEBRUARY 2022) Average Asking Price: $944,450 a Homes For Sale Now: 2 (see page 5) a JANUARY 2022 (latest complete month) Homes Sold: 6 Average Sold Price: $1,031,250 LAST 6 MONTHS (AUG thru JAN) Homes Sold: 35 Average Sold Price: $888,117 Inside The Monthly Report gives you an in-depth look into the housing market in Minto + JANUARY 2021 Sold Prices Longbranch and is an easy way to see what + FEBRUARY 2022 Current Listings your house may be worth. + Past Six-Month Trends Minto Townhouse Prices Report Courtesy of Mark Gaudet, Realtor AEA Right At Home Realty Inc Broker 416-551-6847 [email protected]

2 Homes Currently for sale Median Asking Price: $944,450 Price Range $899,000 - $989,000 If the Market is So Crazy, Why are People Buying? Minto LongBranch, February 2022 ~ Would you be about high prices, but isn’t that also condemning the surprised if I told you that housing supply continues to buyers who are paying them? Clearly, for these well- be low, and demand continues to be high? It would be informed buyers, current house prices are affordable. harder to miss this observation than a convoy of horn- tooting trucks heading downtown. The main issue is buyers with deeper pockets are out- bidding other buyers. The top price they paid is then With media constantly bombarding us with OMG! bad used as the new base value for similar new listings. This news about real estate, it’s enough to think we are has been the case for years, but how long will it last? living on the precipice of collapse. Are we? Eventually the number of deeper-pocket buyers will hit “Fear of the Bubble” has been a familiar narrative for bottom, and there won’t be enough to sustain prices. almost 20 years. That’s a long time to be wrong. Many This will gradually put downward pressure on values. people have bought and sold in this period and have lived to do it again and again, smiling all the while. The imminent rise in interest rates would accelerate this trend. Some might welcome this. But we want to avoid However, it’s hard to argue that continuously rising any government policy that suddenly and artificially prices won’t one day reach a point where they are affects the market. This always results in unintended unsustainable. If supply and demand ratios remain the consequences. To protect yourself, the real trick is to same, affordability will reach a natural pressure point buy and sell in the same market. eventually. The question is when. I have a spacious 2-bedroom, 2-bath townhome One of the reasons that house values continue to rise coming soon in Milton. If you know someone is because, on the demand side, buyers are still buying. who might be interested, please get in touch. Happily. Every day. Headlines may indignantly scream ~ Mark Gaudet, Realtor, BA, AEA 416-551-6847

JAN Latest DEC Seasonally JAN Year- 2022 complete 2021 adjusted 2021 to-Date month New Added Listings: 6 New Added Listings: 1 New Added Listings: 7 Homes Sold: 6 Homes Sold: 2 Homes Sold: 5 Avg Sold Price: Avg Sold Price: Avg Sold Price: $1,031,250 $725,700 $761,800 Median Sold Price: Median Sold Price: Median Sold Price: $1,050,000 $725,700 $751,500 Avg Days on Market: 11 Avg Days on Market: 17 Avg Days on Market: 31 Terminated or Expired: 0 Terminated or Expired: 0 Terminated or Expired: 0 Minto Longbanch 12 Month Avg Sale Price 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Avg Sold Price

Past 6 Months (35 Homes Sold) Past 6 Months Statistics with House Type & Style $890,000 $853,094 $888,117 BEDROOMS $880,000 Sold Price $870,000 $849,494 1 Bedroom - 3 $860,000 1+ Bedroom - 1 $850,000 2 Bedroom - 23 2+ Bedroom - 0 $840,000 $830,000 3 Bedroom - 7 3+ Bedroom - 1 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 (30 Sold) Current Six Months (35 Sold) better idea of market trends. 796,603 803,553 789,140 775,543 764,846 867,055 773,619 888,177 829,431 845,459 858,628 856,050 846,580 861,711 742,503 759,087 773,244 774,259 772,916 759,593 772,204 789,778 822,219 822,680 SEP/FEB OCT/MAR NOV/APR DEC/MAY JAN/JUN FEB/JULY MAR/AUG APR/SEP MAY/OCT JUN/NOV JUL/DEC AUG/JAN

*Updated February 2, 2022

*As of January 31, 2022 1,100,000 18 1,050,000 1,050,000 16 1,031,250 14 12 1,000,000 962,982 959,090 10 950,000 942,667 8 6 900,000 900,000 4 2 850,000 0 Percent Sold 800,000 Days on Over Market Minto Longbranch Asking Toronto Average List Average Sold Average Minto 11 Price Price Median Price Longbranch 11 9.7 942,667 1,031,250 1,050,000 Toronto 15.9 962,982 959,090 900,000 Minto Longbranch Toronto Minto Longbranch Toronto

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