Trending
A red, white, and black flag with a white background.

These are the Toronto neighborhoods that sell the fastest

A group of people walking down a street in a city.

Looking at the “days on market” (DoM) metric, brokerage and real estate information portal Zoocasa has found that homes tend to sell faster in specific Toronto neighborhoods, reflecting the various factors currently at play in the red-hot market.

DoM is the duration that a listing remains active on MLS before it gets sold in a finalized deal. The metric is often taken as an indication of the level of competition in a particular area.

“The DoM provides both buyers and sellers important insights for individual properties; a seller can use it to determine whether their listing is performing well in comparison to similar properties, while buyers can see whether the home has generated a lot of interest thus far,” Zoocasa stated in its report.

“A longer DoM may also suggest the sellers are in a position to negotiate, as the homes that linger on MLS can, in some instances, develop a stigma – buyers may think there’s something wrong with the home, and submit a lower offer, or pass on it altogether.”

Read more:

The following figures are in comparison to the city average of 16 DoM (condos) and 17 DoM (detached homes) in April 2018, per data from the Toronto Real Estate Board.

Fastest-Selling Toronto Neighborhoods: Condo Apartments

Tier 5: C04 and C06 (14 DoM)

Tier 4: W01, W03, C14, and E07 (13 DoM)

Tier 3: C08, E03, and E06 (12 DoM)

Tier 2: C12 (11 DoM)

Tier 1 – Fastest: W02 and E01 (8 DoM)

Fastest-Selling Toronto Neighborhoods: Detached Houses

Tier 5: C04, C11, C02, and E03 (12 DoM)

Tier 4: C09 (9 DoM)

Tier 3: W02 and C10 (8 DoM)

Tier 2: W01 and E02 (7 DoM)

Tier 1 – Fastest: C08 (6 DoM)

 

Related stories: 

About the Author

Ephraim is currently a journalist at Mortgage Broker News, Real Estate Professional and Canadian Real Estate Wealth. Ephraim is a highly accomplished news reporter whose work has been published across North America and the Asia Pacific region. Before joining Key Media, Ephraim spent eight years working as a journalist with Reuters TV. His areas of expertise include real estate, mortgage, and finance. LinkedIn | Email  

Post a Comment

Related Articles

On April 10, 2024, the Bank of Canada announced it was keeping its overnight rate target at 5%, alongside a Bank Rate of 5.25% and...

An Altus Group study found that, in the final quarter of 2023, the Greater Toronto Area (GTA) witnessed a total dollar volume of $22.8 billion...

Most Trending News

On April 10, 2024, the Bank of Canada announced it was keeping its overnight rate target at 5%, alongside a Bank Rate of 5.25% and...

An Altus Group study found that, in the final quarter of 2023, the Greater Toronto Area (GTA) witnessed a total dollar volume of $22.8 billion...

Amidst macroeconomic challenges, Vancouver was the most preferred market by investors in the fourth quarter of 2023, followed by Toronto and Ottawa In the fourth...