As the city becomes busier, the University of Toronto students settle back in after a topsy-turvey couple of years the activity in the Annex also picks up. Rentals are doing incredibly well, and those with ideal houses are also seeing better success than other areas in Downtown Toronto. It’s simply a matter of time before the real estate market picks up more steam with the increased city life. It’s worth noting that fixed mortgage rates have been stable, despite the interest rate hike discussion in the variable rate lending industry. 80% of Canadian mortgage holders hold fixed (currently stable) rates.
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.
Annex Homes Values
There were only 3 sales in the Annex in September 2022. The average home sold for $3,216,666, down substantially from $2,780,200 in September 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 95%. There was a 50/50 chance of multiple offers on Annex house listings. The average home was on the market for an unusually high 39 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 5 condo sales—the average Annex condo sold for $2,024,000, up from $1,754,742 in September 2021. The average list-to-sale price was 95%. There was a 50% chance of multiple offers on house Annex listings. The average Annex condo was on the market for well below the average of 12 days.
Contact us here and read our Annex blogs to learn more about The Annex.
Not the Annex real estate market report you were looking for? Check out our complete library for all reports, old and new!
