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 2019, 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 2019, there were 12 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 slightly lower compare to previous months, it was likely due to the seasonal effect as well as limited new inventory coming on the market. The average sold price for Scarborough E05 detached home in December 2019 was $976,667. Overall, when looking at the long term price trend, the average sold price showed a stable trend since June 2017 with seasonal adjustments (Figure 1). Table 1 provide additional details for detached properties sold in the E05 neighbourhood between December 1, 2019 and December 31, 2019.

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

9 Bellefontaine St

L'Amoreaux

$800,000

$800,000

Other

5

2

2

39 Fluellen Dr

L'Amoreaux

$888,800

$930,000

2-Storey

4

4

2

60 Gloxinia Cres

L'Amoreaux

$999,000

$1,200,000

2-Storey

5

5

2

177 Huntsmill Blvd

Steeles

$930,000

$891,000

2-Storey

4

4

2

25 Earlton Rd

Tam O'Shanter

$699,000

$770,000

Bungalow

3

1

1

25 Linwood Ave

Tam O'Shanter

$849,000

$971,000

Backsplit 4

4

2

2

57 Richbourne Crt

Tam O'Shanter

$899,900

$900,000

2-Storey

4

2

1

125 Nortonville Dr

Tam O'Shanter

$959,000

$1,072,000

Sidesplit 4

3

4

2

48 Bridlewood Blvd

Tam O'Shanter

$999,900

$960,000

2-Storey

4

3

2

1771 Pharmacy Ave

Tam O'Shanter

$1,050,000

$975,000

Sidesplit 4

3

2

1

                 

 

There were 23 condo apartments sold in December 2019, the average sold price was $471,695. The number of sale was lower compare to the previous months and was likely due to seasonal effect; however, the average sold price was still close to the all time high. The limited number of listing and high demand for affordable condos were the major driving factors pushing the average sold price for Scarborough condo to a new high. Table 2 provide additional details for condo apartment sold in the Scarborough E05 neighbourhood between December 1, 2019 and December 31, 2019.

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

Address

Community 

Listing Price

Sold Price

Maintenance Fee

Bedroom

Washroom

Parking Space

10 Stonehill Crt

L'Amoreaux

$399,000

$452,680

$577.53

4

2

1

10 Stonehill Crt

L'Amoreaux

$459,000

$459,000

$641.49

3

2

1

1250 Bridletowne Circ

L'Amoreaux

$388,000

$355,000

$691.53

2

1

1

2050 Bridletowne Circ

L'Amoreaux

$379,900

$435,000

$740.34

3

2

1

2330 Bridletowne Circ

L'Amoreaux

$479,000

$475,000

$752.09

1

2

1

2350 Bridletowne Circ

L'Amoreaux

$619,900

$610,000

$1,005.62

2

2

1

2350 Bridletowne Circ

L'Amoreaux

$638,888

$622,500

$1,021.12

2

2

2

3131 Bridletowne Circ

L'Amoreaux

$429,800

$418,000

$751.27

1

2

1

3151 Bridletowne Circ

L'Amoreaux

$395,000

$390,000

$1,235.47

2

2

2

40 Chichester Pl

L'Amoreaux

$299,900

$320,000

$912.88

2

1

1

40 Chichester Pl

L'Amoreaux

$400,000

$400,000

$987.84

3

2

1

1883 Mcnicoll Ave

Steeles

$499,900

$487,000

$621.03

2

2

2

3088 Kennedy Rd

Steeles

$368,000

$356,000

$992.26

2

2

1

55 Bamburgh Circ

Steeles

$558,800

$538,800

$815.94

3

2

2

55 Bamburgh Circ

Steeles

$578,000

$559,000

$802.31

3

2

1

185 Bonis Ave

Tam O'Shanter

$450,000

$480,000

$448.66

1

1

1

185 Bonis Ave

Tam O'Shanter

$520,000

$525,000

$568.49

2

2

1

195 Bonis Ave

Tam O'Shanter

$472,000

$460,000

$447.45

1

1

1

195 Bonis Ave

Tam O'Shanter

$599,900

$549,000

$523.36

2

2

1

270 Palmdale Dr

Tam O'Shanter

$389,000

$435,000

$547.29

2

1

1

40 Bay Mills Blvd

Tam O'Shanter

$338,000

$335,000

$533.00

1

1

1

 

 

Year End Overview

When comparing the 2018 and 2019 data for E05 neighbourhood, it does paint a clear picture that the detached housing market is becoming more seller friendly. The average days on market became shorter and the average price increased, especially for smaller properties (e.g. bungalows) with price tag of less than 1 million.

The condo in E05 is still a hot commodity. The average price increased 8% compare to last year and days on market were also shorter. One interesting fact to note is that the average price for condo increased a whopping 35% between 2016 and 2019, where the detached home average price was more less the same (-3%). I anticipate that in near future, the increase in condo price will help second time home buyer currently owning a condo to cash out their condo and upsizing to a larger freehold home, which will increase the demand for detached home and potentially price. 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

% Difference
(2016-2019)

-33%

-3%

88%

-14%

35%

22%

% Difference
(2017-2019)

2%

-12%

40%

8%

10%

52%

% Difference
(2018-2019)

67%

1%

-20%

8%

8%

-12%

 

Housing Inventories

The average days on market (DOM) for detached house listings sold in December 2019 was 21 days (Figure 2), it was shorter compared to the City of Toronto average days on market (31 days). The average days on market for Scarborough E05 condo listings sold in December 2019 were 32 days and they were longer compare to the City of Toronto average of 25 days.

There were 13 new detached home listings that came onto the market in December 2019, and the number of active listing in December was 21. Both numbers were lower compared to previous months (March 2019 to November 2019), suggesting there were lesser inventories. For condos, there were 22 new listings along with 17 active listings on market in December, which were also lower compared to the summer months (Figure 3).

The limited inventory was likely the driving factor for the increase in price. The average sale price to listing price ratio for detached home again maintained over 100% for December 2019, indicating most of the detached homes in the area were sold over asking (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)

Toronto Real Estate Board President Michael Collins reported that December 2019 residential sales reported through TREB's MLS® System by Greater Toronto Area REALTORS® were up by 17.4 per cent year-over-year to 4,399. Total sales for calendar year 2019 amounted to 87,825 – up by 12.6 per cent compared to the decade low 78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median annual sales result for the past decade.

"We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year. As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year," said Mr. Collins.

While sales were up in 2019, the number of new listings entered into TREB's MLS® System was down by 2.4 per cent year-over-year. For the past decade, annual new listings have been largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home prices over the same period.

"Over the last ten years, TREB has been drawing attention to the housing supply issue in the GTA. Increasingly, policy makers, research groups of varying scope and other interested parties have acknowledged that the lack of a diverse supply of ownership and rental housing continues to hamper housing affordability in the GTA. Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front," said Jason Mercer, TREB's Chief Market Analyst.

The MLS® Home Price Index Composite Benchmark was up by 7.3 per cent on a year-over-year basis in December 2019. From June 2019 onward, the annual growth rate in the MLS® HPI Composite Benchmark accelerated. The average selling price in December 2019 was $837,788 – up almost 12 per cent year-over-year. For calendar year 2019, the average selling price was $819,319 – up by four per cent compared to $787,856 in 2018.

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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