The Spring Real Estate market has been a strong one throughout the central core with many record sales in popular neighbourhoods. However, housing stock remains low with fewer listings coming to market than in the same period last year, resulting in greater demand from active buyers. This all equates to bidding wars with the highest selling prices to date in our city and the average price per housing type being pushed up in nearly every category. In addition, inventory is "flying off the shelf" with many properties selling in their first week to market.
In Cabbagetown, we have noted record sales on Wellesley Street over the past 3 months. Streets to the West of Parliament have had moderate activity between Shuter and Wellesley streets, with as much of a price increase as 5-8% in some cases from the same period last year. This is a healthy and steady increase that is expected to continue along with city-wide trends.
We continue to notice postivie change on streets like Ontario, Berkeley and Seaton with many homes receiving extensive renovations and residents' gardens are looking better than ever. Spring took it's time getting here but has been rewarding us over the past couple of weeks as flowers and leaves are in bloom and the Air Conditioners are on full blast! We wish our clients and friends a colourful summer whether spent in the city or at the cottage.
Above: We recently ran our Red Bag Clothing Drive in support for the Regent Park Salvation Army. With our deepest thanks to the generosity of the residents of the Old Cabbagetown community, we managed to collect and deliver over 100 bags of clothing and books for this deserving community. It was the hottest day of the year so far, and we enjoyed speaking with many of you outside while you tended to your gardens and joined the neighbourhood Street Yard Sale. Thank you again for your support!