Tis’ the season for Toronto real estate to be quieter. The Annex neighbourhood is no different. In fact, this was a very quiet month for sales. It’s become evident in recent months that Annex homeowners are choosing to hold their property and wait out the market in hopes of a quicker rebound.
There were ONLY 2 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.
Annex Homes Values
There were just 2 sales (which heavily skews the stats) in the Annex in November 2022. The average home sold for $2,342,500, down from $4,602,500 in November 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 93%. There was a 50/50 chance of multiple offers on Annex house listings. The average home was on the market for 31 days (proof that the overall Toronto real estate market is slower than historical statistics.)
➤ Check out our top reads for anyone thinking about living in The Annex:
- The Annex Neighbourhood Guide
- How To Adjust Your Home Selling Strategy When Prices Are Falling
- 5 Things You Didn’t Know About Toronto Lofts
Annex Condo Values
There were 0 condo sales—the average Annex condo – We have never seen this before. Clearly not much to say other than there will be more movement in 2023.
Contact us here and read our Annex blogs to learn more about The Annex.
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