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 (October2020, Toronto, Scarborough E05)

Recent Sold Price for Properties in Scarborough E05

Based on the Toronto Real Estate Board (TREB) data, in the month of October 2020, there were 27 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 recovered from the historical low of April and May (due to COVID impact), and is somewhat in line with the transaction volume experienced last year October.

The average sold price for Scarborough E05 detached home in October 2020 was $1,095,851, it is lower compare to the peak experienced in August 2020 ($1,183,827); however, it is still approximately 11% higher compare to October 2019.

The average sold price for detached home and condo in the Scarborough E05 neighbourhood is illustrated in Figure 1. Table 1 provide additional details for detached properties sold in the E05 neighbourhood between October 1 and October 31, 2020.

Table 1: Recent Sold Detached Listings in Scarborough E05 Neighbourhood

Address

Community 

Listing Price

Sold Price

Style

Bedroom

Washroom

Garage Space

136 L'amoreaux Dr

L'Amoreaux

$769,000

$755,000

2-Storey

3

4

1

7 Lofthouse Sq

L'Amoreaux

$999,000

$1,100,000

Bungalow

3

4

1

43 Candlebrook Cres

L'Amoreaux

$999,800

$950,000

2-Storey

3

4

2

58 Temple Bar Cres

L'Amoreaux

$1,168,000

$1,130,000

2-Storey

4

3

2

63 Orangewood Cres

L'Amoreaux

$1,198,000

$1,200,000

Backsplit 4

3

3

2

66 Kelvinway Dr

L'Amoreaux

$1,299,000

$1,316,000

2-Storey

4

4

2

41 Redheugh Cres

Steeles

$899,000

$921,880

2-Storey

3

4

2

153 Burnt Bark Dr

Steeles

$1,080,000

$1,300,000

2-Storey

4

5

2

32 New Forest Sq

Steeles

$1,188,000

$1,255,099

2-Storey

4

4

2

21 Seagrave Cres

Steeles

$1,298,000

$1,172,000

2-Storey

4

4

2

67 Charlemont Cres

Tam O'Shanter

$849,000

$938,000

Bungalow

3

2

0

12 Shrewsbury Sq

Tam O'Shanter

$849,000

$920,000

Sidesplit 4

4

2

0

85 Highhill Dr

Tam O'Shanter

$849,800

$873,000

2-Storey

3

4

1

32 By Pass Crt

Tam O'Shanter

$850,000

$890,000

Sidesplit 4

4

2

1

74 Charlemont Cres

Tam O'Shanter

$899,000

$990,000

Bungalow

3

3

1

29 Richbourne Crt

Tam O'Shanter

$899,000

$980,000

2-Storey

4

2

1

47 Beacham Cres

Tam O'Shanter

$899,888

$945,000

Bungalow

3

2

1

109 Lowcrest Blvd

Tam O'Shanter

$899,900

$898,000

Bungalow

3

2

1

36 Vradenberg Dr

Tam O'Shanter

$899,900

$985,000

Sidesplit 4

3

2

0

6 Queenscourt Dr

Tam O'Shanter

$928,000

$1,138,000

2-Storey

4

3

2

65 Dunmurray Blvd

Tam O'Shanter

$999,000

$1,176,000

2-Storey

4

3

2

28 Commons Dr

Tam O'Shanter

$999,999

$1,173,000

Sidesplit 4

3

2

1

31 Jade St St

Tam O'Shanter

$1,288,000

$1,230,000

2-Storey

4

7

2

17 Redcastle Cres

Tam O'Shanter

$1,298,000

$1,270,000

2-Storey

4

3

1

57 Richbourne Crt

Tam O'Shanter

$1,299,000

$1,272,000

2-Storey

4

4

1

                 

 

There were 24 condo apartments sold in October 2020, the average sold price was $505,454, which was slightly lower compare to the all time high reached in August 2020, but still gained 8% appreciation compare to last year October.  The number of sale (24 sale during October) was lower compare to previous 3 months and also lower compare to last year October. Table 2 provide additional details for condo apartment sold in the Scarborough E05 neighbourhood between October 1 and October 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

2550 Pharmacy Ave

L'Amoreaux

$365,500

$350,000

$735.90

1

1

1

1250 Bridletowne Circ

L'Amoreaux

$399,888

$420,000

$824.82

3

2

1

10 Stonehill Crt

L'Amoreaux

$439,000

$491,000

$637.59

3

2

1

100 Echo Pt

L'Amoreaux

$449,000

$440,000

$695.00

3

2

1

3151 Bridletowne Circ

L'Amoreaux

$449,900

$435,000

$1,184.26

2

2

1

1250 Bridletowne Circ

L'Amoreaux

$475,000

$460,000

$834.64

3

2

1

2050 Bridletowne Circ

L'Amoreaux

$488,000

$480,000

$683.70

3

2

1

2050 Bridletowne Circ

L'Amoreaux

$489,900

$470,000

$740.34

3

2

1

25 Silver Springs Blvd

L'Amoreaux

$498,000

$481,800

$706.00

3

2

2

45 Silver Springs Blvd

L'Amoreaux

$499,000

$495,000

$706.00

3

2

1

25 Silver Springs Blvd

L'Amoreaux

$499,200

$493,299

$685.43

2

2

1

2350 Bridletowne Circ

L'Amoreaux

$499,900

$495,000

$813.91

1

2

1

75 Bamburgh Circ

Steeles

$429,000

$465,000

$637.44

2

2

1

25 Bamburgh Circ

Steeles

$449,000

$490,000

$807.00

2

2

2

75 Bamburgh Circ

Steeles

$489,900

$468,000

$691.38

2

2

2

1883 Mcnicoll Ave

Steeles

$499,900

$496,888

$664.71

2

2

2

225 Bamburgh Circ

Steeles

$519,900

$495,000

$1,074.64

2

2

1

25 Bamburgh Circ

Steeles

$599,900

$575,000

$882.12

3

2

2

175 Bamburgh Circ

Steeles

$654,900

$639,900

$987.99

2

2

2

255 Bamburgh Circ

Steeles

$749,900

$725,000

$1,267.26

3

2

2

185 Bonis Ave

Tam O'Shanter

$399,000

$450,000

$446.63

1

1

1

185 Bonis Ave

Tam O'Shanter

$428,000

$445,000

$487.62

1

1

1

195 Bonis Ave

Tam O'Shanter

$468,000

$493,000

$459.54

1

1

1

228 Bonis Ave

Tam O'Shanter

$599,000

$592,000

$565.47

2

2

1

228 Bonis Ave

Tam O'Shanter

$625,800

$600,000

$596.54

2

2

1

 

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

Housing Inventories

The average days on market (DOM) for detached house listings in E05 sold in October 2020 was 14 days (Figure 2), it is the same compared to the City of Toronto average days on market.

The average days on market for Scarborough E05 condo sold in October 2020 was 23 days. It was slightly longer compare to the City of Toronto’s average DOM of 21 days.

There were 48 new detached home listings that came onto the market in October 2020, and there were 46 active detached home listing in October. For condos, there were 40 new listings along with 51 active listings on market for October (Figure 3). The number of detached home and condo new listing for October recovered from the historical low in April and May, it is comparable with last year data.

Due to the limited inventory in detached house listing, the average price increased drastically since May, the average days on market also shortened. Often detached house listings were experiencing multiple buyers bidding up the price and are selling over asking. This increase in demand for detached housing is also fuelled by the COVID pandemic, making buyer favouring the house over condo (private backyard space, no need to wait for elevator access).

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)

Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row. Our Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS® System in October 2020. This was up by 25.1 per cent compared to 8,445 transactions in October 2019.

Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverged in some market segments. In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2 per cent over the same period.

“Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighbourhoods. In contrast, condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors,” said Lisa Patel, TRREB’s President.

The MLS® HPI Composite Benchmark was up by 10.8 per cent on a year-over-year basis in October 2020. The average selling price for all home types combined was $968,318 – up by 13.7 per cent compared to $851,877 in October 2019.

“Year-to-date home sales through October were above last year’s level. The economic recovery in some sectors coupled with low borrowing costs has kept home purchases top-of-mind for many GTA residents. With this being said, we have not accounted for all of the pent-up demand that resulted from the spring downturn. Expect record or near-record home sales for the remainder of 2020,” said Jason Mercer, TRREB’s 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