In Summerhill, annual home sales were down 38.1%, from 58 homes sold in 2011 to 42 sold in 2012. Home values also dropped 11.4% in 2012, with an average sale price of $1,287,685 compared to an average 2011 sale price of $1,434,901. However, in 2011, a home was sold in Summerhill for $3,495,000. A big sale like that can definitely skew statistics, and accounts for part of the reason we’re seeing a “decrease” during 2012.
There was also a dip in detached home sales in Summerhill in 2012, with only 9 detached homes changing hands during the year compared to 21 in 2011. Despite these dips, it remained a seller’s market in Summerhill, with homes selling in an average of 11 days for 101% of the asking price.
If you are interested in living in Summerhill, or if you are thinking about selling a home you own in the neighbourhood, contact Jethro Seymour.
Jethro is among the top 2% of Toronto real estate agents for units sold in 2011*, Jethro has the knowledge, experience and professionalism you need whenever you’re buying or selling real estate in Midtown Toronto.