August 8, 2022 | The Annex

The Summer months are quiet on the real estate front. July of 2022 is no different. Some of the sales figures can be a result of the quieter Summer. However, there are indeed signs of a softening market in the Annex.

The Annex rarely has many sales, keeping the area in high demand. There were a total of 8 transactions. Keep in mind that with so few trades, the values can be skewed with more lower-priced condos and houses versus higher-priced homes – our overall annual markers will provide a better sense of value increase, which you can reach out to us here to discuss.

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Annex Homes Values

There were only 3 sales in the Annex in July 2022. The average home sold for $1,900,309, down substantially from $2,919,000 in July 2021. Note: sellers are struggling to price their homes at what the market (buyer) is willing to accept in this real estate environment.) The average list-to-sale price was 91%. There was a 50/50 chance of multiple offers on house Annex listings. The average home was on the market for 12 days – this is a very low average number of days on the market, which means that the Annex remains in demand.

Annex Home values August 2022


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Annex Condo Values

There were 5 condo sales—the average Annex condo sold for $998,900, down from $1,227,000 in July 2021. The average list-to-sale price was 101%, demonstrating a willingness of some buyers to push above the asking price. There was a 50% chance of multiple offers on house Annex listings. The average home was on the market for a whopping 48 days. This stat helps us see the discrepancy between some sellers’ desire for a higher price than the buyer’s market will accept, while in other cases well priced condos are selling over asking.

Toronto Annex Condo Values August 2022

Contact us here and read through our Annex blogs if you want to learn more about The Annex. 

 

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