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Cabbagetown Real Estate Update – May 2011


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May 2011 has been another great month for Real Estate in Cabbagetown.

I took some time to review what Cabbagetown real estate numbers are and compared them with our region (C08) and city level numbers to see how we are doing compared to the average.   Cabbagetown, over the past year, has seen an increase in average price sold over the same period last year.  Our average price in Cabbagetown currently stands at $774,640.80 which takes into account all properties that have sold in 2011 while for the month of May, our average price was $823,505.00.

Let’s take a glimpse at what our local numbers look like:

  • Average List Price: $965,425
  • Average Sold Price: $823,505
  • Median Sold Price: $690,000
  • SOLD Listings: 25
  • Average Days on Market: 17

Let’s dig a little deeper into the numbers and define prices based on type of house.  This would give you a better idea of how well your home is doing.

Attached/Row/Townhouse:

  • Average List Price $746,278
  • Average SOLD $732,667
  • Average Days on Market: 16

Semi-Detached

  • Average List Price $719,467
  • Average SOLD $716,636
  • Average Days on Market: 14

Detached

  • Average List Price $1,947,000
  • Average SOLD $1,874,500
  • Average Days on Market: 45

Our district numbers as reported by Toronto Real Estate Board

  • New properties Listed: 1,188
  • SOLD Listings: 689
  • Average SOLD $433,549
  • Median SOLD $383,000
  • Average DOM 23

You can find the complete report from Toronto Real Estate Board here

I also took the liberty to graphically compare how our numbers are this year compared to last year and came across some very interesting finds.

  • We are out-performing 2010 in all aspects such as average list price, average sold price, median sold price, lowest sold price, and highest sold price
  • We have shaved days off our Days on Market compared to last year

The increased demand and low supply is leading to a very healthy sellers’ market in Cabbagetown, which is resulting in sellers enjoying short listing periods, and high sold prices.   If you’d like to find out more information about your home or street, please feel free to contact me by calling 1-877-HEY-ADDY (439-2339) or by clicking here.  There is also additional information available about Cabbagetown on my blog as well.

About Addy Saeed

Addy is a full time REALTOR® in Toronto, ON with RE/MAX ® and is involved in different real estate projects alongside community and charity events. An avid investor, auto enthusiast, music lover and long time adventurer. He can be contacted by calling 1-877-439-2339