April 2022 Minto Townhouse Report

april 2022 MintoLongbranchPrices.ca

REPORT ON MINTO LONGBRANCH PRICES APRIL 2022 CURRENT (APRIL 2022) Average Asking Price: $1,098,450 Homes For Sale Now: 4 (see page 5) MARCH 2022 (latest complete month) Homes Sold: 4 Average Sold Price: $935,750 LAST 6 MONTHS (OCT thru MAR) Homes Sold: 28 Average Sold Price: $893,925 Inside The Monthly Report gives you an in-depth look into the housing market in Minto + MARCH 2021 Sold Prices Longbranch and is an easy way to see what + APRIL 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: $1.09m Price Range $1.09 - $1.11m Is There More to the Story? Minto LongBranch, April 2022 ~ As usual, the Spring just quoted above (and btw duly recorded as accurate weather is taking its sweet time to arrive. The Spring TREB MLS history). From the numbers, it is clear that just real estate market (which officially, if inexplicably, four homes sold at Minto. But is that the full story? starts in February) appears also to be in no great rush. Digging deeper, we see that two of the current listings We had just four houses sell in March, but compared have been on the market for 23 & 34 days respectively. to the one sale in February, you could argue it was The average time to sell is nine days. If these homes had relatively busy. However, back in March 2021, Minto sold within that timeframe, February would have shown had almost double that number with seven sales. six sales, not four – a 40% difference. Does this matter? This could be evidence of a tighter market, but This matters for two reasons. First, if you happen to be numbers are relative, and we need be context to know one of those sellers, you might wonder if the market has if it’s local or widespread. For example, four sales may suddenly softened. If it hasn’t, you may wonder if there be low in a townhouse enclave, but in a neighbourhood are other issues at play. of detached homes, that’s in fact a busy month. Secondly, to analyze trends, establish valuations, and Of course, real estate is not strictly a numbers game: develop marketing strategies, it is important to uncover even when we know average prices, median prices, and analyze deeply all the available information. sales-to-listings ratio, absorption rates, etc. – all this Sometimes the essential pieces are hiding. helpful data never paints the full picture. At best we get paint-by-numbers art rather than high realism, to I’m working with a family looking for a three- use a metaphor. bedroom townhome in Mississauga. If you know someone who might be selling, pls let me know. A case in point is the sales figure from this February ~ Mark Gaudet, Realtor, BA, AEA 416-551-6847

MAR Latest FEB Seasonally MAR Year- 2022 complete 2022 adjusted 2021 to-Date month New Added Listings: 11 New Added Listings: 2 New Added Listings: 12 Homes Sold: 4 Homes Sold: 1 Homes Sold: 7 Avg Sold Price: Avg Sold Price: Avg Sold Price: $935,750 $892,000 $865,215 Median Sold Price: Median Sold Price: Median Sold Price: $992,500 $892,000 $895,000 Avg Days on Market: 9 Avg Days on Market: 3 Avg Days on Market: 6 Terminated or Expired: 3 Terminated or Expired: 1 Terminated or Expired: 2 Minto Longbanch 12 Month Avg Sale Price 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar Avg Sold Price

Past 6 Months (28 Homes Sold) Past 6 Months Statistics with House Type & Style $900,000 $846,624 $844,642 $893,925 BEDROOMS $890,000 Sold Price $880,000 1 Bedroom - 3 $870,000 1+ Bedroom - 2 $860,000 2 Bedroom - 17 $850,000 2+ Bedroom - 0 $840,000 3 Bedroom - 5 $830,000 3+ Bedroom - 1 $820,000 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 (35 Sold) Current Six Months (28 Sold) better idea of market trends. 773,244 774,259 796,603 803,553 789,140 775,543 764,846 772,916 773,619 888,177 892,294 789,778 822,219 822,680 829,431 845,459 858,628 856,050 846,580 867,055 861,711 893,925 759,593 772,204 NOV/APR DEC/MAY JAN/JUN FEB/JULY MAR/AUG APR/SEP MAY/OCT JUN/NOV JUL/DEC AUG/JAN SEP/FEB OCT/MAR

*Updated April 2, 2022

*As of March 31, 2022 1,000,000 915,675 963,158 992,500 18 Percent 980,000 898,972 935,750 16 Sold 960,000 905,000 14 Over 940,000 Average List Average Sold 12 920,000 Price Price Average Sold 10 Asking 900,000 Median Price 880,000 898,972 935,750 8 5.25 860,000 915,675 963,158 992,500 6 840,000 905,000 4 16.5 2 Minto Longbranch 0 Toronto Days on Market Minto 9 Longbranch 8 Toronto Minto Longbranch Toronto Minto Longbranch Toronto

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