Joe  Xu

Joe Xu

Broker

HomeLife Landmark Realty Inc., Brokerage*

Mobile:
647-862-5296
Office:
(905) 305-1600
Toll Free:
1-855-305-1600
Email Me
Joe  Xu

Joe Xu

Broker

HomeLife Landmark Realty Inc., Brokerage*

Mobile:
647-862-5296
Office:
(905) 305-1600
Toll Free:
1-855-305-1600
Email Me

Neighbourhood Real Estate Analysis (December 2020, Toronto, Scarborough E05)

Recent Sold Price for Properties in Scarborough E05

Based on the Toronto Real Estate Board (TREB) data, in the month of December 2020, there were 17 detached properties sold in the Scarborough E05 district (bounded by Steeles Ave to the north, Highway 401 to the south, Victoria Park Ave to the west and Kennedy Rd to the east). The number of detached property transaction was lower compare to previous months; it was likely due to the seasonal effect. The average sold price for Scarborough E05 detached home in December 2020 was $1,098,535. Overall, when looking at the long term price trend, the average sold price showed a steadily increase in 2020 with seasonal adjustments (Figure 1). Table 1 provide additional details for detached properties sold in the E05 neighbourhood between December 1, 2020 and December 31, 2020.

Figure 1: Average Sold Price for Detached Home and Condo in the Scarborough E05 Neighbourhood

Table 1: Recent Sold Detached Listings in Scarborough E05 Neighbourhood

Address

Community 

Listing Price

Sold Price

Style

Bedroom

Washroom

Garage Space

14 Sesame St

L'Amoreaux

$1,039,000

$980,000

Bungalow

3

4

1

43 Rainthorpe Cres

L'Amoreaux

$699,000

$1,051,800

2-Storey

3

4

1

32 Rainthorpe Cres

L'Amoreaux

$1,099,999

$1,060,000

2-Storey

4

4

1

53 Perthshire St

L'Amoreaux

$1,150,000

$1,156,000

2-Storey

4

4

1

44 Beverly Glen Blvd

L'Amoreaux

$1,199,000

$1,172,000

Sidesplit 3

3

3

1

317 Huntsmill Blvd

Steeles

$1,109,000

$1,080,000

Bungalow

3

2

1

327 Huntsmill Blvd

Steeles

$1,138,000

$1,092,000

Bungalow

3

2

1

54 Sunbird Cres

Steeles

$1,288,000

$1,200,000

2-Storey

4

6

1

17 Beswick Park Crt

Steeles

$1,180,000

$1,315,000

3-Storey

5

4

1

12 Jade St

Tam O'Shanter

$879,000

$850,000

3-Storey

3

4

1

30 Dempster St

Tam O'Shanter

$999,998

$980,800

Bungalow

3

2

1

41 Wishing Well Dr

Tam O'Shanter

$799,000

$1,025,000

Bungalow

3

2

2

54 Jade St

Tam O'Shanter

$1,118,000

$1,100,000

Bungalow

3

2

1

11 Wicklow Dr

Tam O'Shanter

$925,000

$1,200,000

Sidesplit 4

3

2

1

15 Marblemount Cres

Tam O'Shanter

$1,268,000

$1,225,000

2-Storey

4

4

1

501 Huntingwood Dr

Tam O'Shanter

$1,368,000

$1,300,000

2-Storey

4

3

1

                 

 

There were 27 condo apartments sold in December 2020, the average sold price was $493,303. The number of sale was slightly higher compare to November and October. However, the average sold price is slightly lower compare to the all time high achieved in August 2020. The limited number of listing and high demand for affordable condos were the major driving factors for the steadily increase in the price for Scarborough condos. Table 2 provide additional details for condo apartment sold in the Scarborough E05 neighbourhood between December 1, 2020 and December 31, 2020.

Table 2: Recent Sold Condo Apartment Listings in Scarborough E05 Neighbourhood

Address

Community 

Listing Price

Sold Price

Maintenance Fee

Bedroom

Washroom

Parking Space

100 Echo Pt

L'Amoreaux

$419,000

$485,000

$649.00

3

2

1

100 Echo Pt

L'Amoreaux

$479,000

$465,000

$705.00

3

2

1

1250 Bridletowne Circ

L'Amoreaux

$388,888

$450,000

$824.00

3

2

1

2050 Bridletowne Circ

L'Amoreaux

$380,000

$410,000

$683.70

3

2

1

2330 Bridletowne Circ

L'Amoreaux

$680,000

$660,000

$977.05

2

2

2

25 Silver Springs Blvd

L'Amoreaux

$419,900

$390,000

$514.95

1

1

1

25 Silver Springs Blvd

L'Amoreaux

$430,888

$423,000

$538.64

1

1

0

2550 Pharmacy Ave

L'Amoreaux

$424,999

$420,500

$763.18

2

1

1

2721 Victoria Park Ave

L'Amoreaux

$399,900

$407,000

$826.39

2

1

1

3151 Bridletowne Circ

L'Amoreaux

$444,900

$440,000

$1,202.30

2

2

2

45 Huntingdale Blvd

L'Amoreaux

$528,900

$520,000

$985.54

2

2

2

45 Huntingdale Blvd

L'Amoreaux

$574,900

$570,000

$935.58

2

2

1

45 Silver Springs Blvd

L'Amoreaux

$488,000

$483,800

$690.84

2

2

1

55 Huntingdale Blvd

L'Amoreaux

$525,000

$590,000

$1,002.10

2

2

1

55 Huntingdale Blvd

L'Amoreaux

$533,900

$520,000

$965.54

2

2

1

55 Huntingdale Blvd

L'Amoreaux

$570,000

$567,500

$944.44

2

2

1

175 Bamburgh Circ

Steeles

$529,900

$490,000

$715.56

2

2

1

1883 Mcnicoll Ave

Steeles

$499,990

$490,000

$640.00

2

2

1

25 Bamburgh Circ

Steeles

$519,000

$518,000

$772.74

2

2

1

25 Bamburgh Circ

Steeles

$588,800

$570,000

$864.00

3

2

2

275 Bamburgh Circ

Steeles

$625,000

$600,000

$1,374.53

2

2

2

185 Bonis Ave

Tam O'Shanter

$549,900

$528,888

$533.10

2

2

1

238 Bonis Ave

Tam O'Shanter

$459,000

$450,000

$473.14

1

1

1

238 Bonis Ave

Tam O'Shanter

$509,900

$507,000

$642.09

2

2

1

270 Palmdale Dr

Tam O'Shanter

$429,000

$432,000

$484.33

2

1

1

270 Palmdale Dr

Tam O'Shanter

$450,000

$440,000

$597.32

2

1

1

 

Year End Overview

When comparing the 2020 data to the previous four years, it does paint a clear picture that the average price for detached house had a significant recovery in 2020, the average price is on par with the level we experienced in the peak of 2017.

The condo in E05 is still a hot commodity. The average price increased 10% compare to last year and days on market were also shorter. The condo market in E05 did not see the price decline experienced by other Toronto neighbourhoods. I think this is mainly attributed to the fact that Scarborough condos are generally larger in size with cheaper price tags, it is more family oriented and had a less impact from the drop in rental price caused by COVID. Table 3 below provide an overview of the yearly data for the E05 neighbourhood.

Table 3: E05 Neighbourhood Annual Real Estate Overview and Comparison

Year

Detached

Condo

Sale (total)

Average Price

Average DOM

Sale (total)

Average Price

Average DOM

2016

442

$1,004,425

11

411

$336,188

20

2017

292

$1,117,960

14

326

$413,733

16

2018

178

$968,593

25

325

$420,462

28

2019

298

$979,011

20

352

$454,322

25

2020

271

$1,120,118

17

281

$500,972

20

% Difference
(2019-2020)

-9%

14%

-12%

-20%

10%

-19%

 

Housing Inventories

The average days on market (DOM) for detached house listings sold in December 2020 was 41 days (Figure 2), it was significantly longer compared to the City of Toronto average days on market (26 days). This is mainly due to the small sample size (only 17 detached properties sold in December) and almost half of the 17 listings that sold in December were stagnant listings that were on the market for over 2 months and were finally sold due to the hot market condition and limited inventory. In reality, majority of the new listings came on market were sold relatively quick (within 2 weeks) and the market is extremely hot. The December 2020 DOM data for E05 is highly skewed and should be considered as an outlier.

The average days on market for Scarborough E05 condo listings sold in December 2020 were 27 days and they were shorter compare to the City of Toronto average of 32 days.

There were 10 new detached home listings that came onto the market in December 2020, and the number of active listing in December was 17. Both numbers were lower compared to previous months, suggesting there were lesser inventories. For condos, there were 22 new listings along with 27 active listings on market in December, which were also lower compared to the summer months (Figure 3).

The average sale price to listing price ratio for detached home and condos were both over 100% for December 2020, suggesting the current market is a strong seller market and bidding wars are prevalent (Figure 4).

Figure 2: Average Days on Market for Detached Home and Condo in the Scarborough E05 Neighbourhood

 

Figure 3: Active Detached Home and Condo Listing and Number of Sold Listing in the Scarborough E05 Neighbourhood

 

Figure 4: Average Sale to Listing Price in the Scarborough E05 Neighbourhood

 

 

The Bigger Picture (Market Watch by Toronto Real Estate Board)

Despite an unprecedented year due to COVID-19, including necessary public health restrictions and uncertainty surrounding the economy, Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.

“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President.

Highlights from 2020 include:

  • 95,151 sales were reported through TRREB’s MLS® System – up by 8.4 per cent compared to 2019. This included a record result for the month of December, with 7,180 sales – a year-over-year increase of 64.5 per cent.
  • Year-over-year sales growth was strongest in the GTA regions surrounding Toronto, particularly for single-family home types.
  • The average selling price reached a new record of $929,699 – up by 13.5 per cent compared to 2019. This included an average price of $932,222 in December – a year-over-year increase of 11.2 per cent. The strongest average price growth was experienced for single-family home types in the suburban regions of the GTA.
  • After a pronounced dip in market activity between mid-March and the end of May, market conditions improved dramatically in the second half of the year, with multiple consecutive months of record sales and average selling prices.

“While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market segments and the condominium apartment segment. The supply of single-family homes remained constrained resulting in strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped growth in sales. Increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices during the last few months of the year,” said Jason Mercer, TRREB Chief Market Analyst.

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647-862-5296

  

(905) 305-1600

  

Meet Joe Xu, the Right Realtor for You.

I’m a perfectionist — I obtained my Civil and Environmental Engineering Degree from the University of Waterloo with the highest GPA in my class. While practicing engineering, I worked with numerous developers on residential development projects. I became passionate about real estate, having invested personally since 2011.

In 2016, I transitioned my love for real estate and helping others into a full-time real estate career. I won the following awards with my service-first mindset

  • HomeLife Diamond Award (top 5% in my company) in both 2017 and 2018.
  • HomeLife President Award (top 3% in my company) in 2019.

I believe my clients deserve the highest level of excellence in service. To make you more comfortable and confident in your real estate decisions, I always treat you with honesty and professionalism.

 

I am working with a supportive team of professional realtors. Our mission is simple, we are here to ensure your real estate transaction is smooth and stress free!

For sellers, we sell homes fast for TOP $! Why listing with us?

  • Professional Services
  • Take time to understand your needs and goals
  • In-depth home and market evaluation
  • Pre-listing preparation
  • Maximum Market Exposure
  • Proactive marketing strategy
  • Internet marketing
  • Productive Team of Full-Time Realtors
  • Fast Response and Reliable Service
  • You will always speak with me when you have questions (not my assistant or a receptionist)
  • I guarantee a response to you within 24 hours
  • Competitive Commission
  • Neighbourhood Interest and Knowledge

 

For buyers, we will guide you through the process of making your biggest investment and help you get a place that you love! Why buy with us?

  • Honest and Reliable
  • Knowledge of the Market and Neighborhood
  • Tough Negotiator, Friendly Service
  • Team of Service Providers (Mortgage, Inspector, Lawyer, etc.)

 

 



Languages Spoken: Chinese, English