Mimico and New Toronto Market Update October 2021

Are you curious what the average home price is for Mimico or New Toronto? I have the sold data for you! Here is your Mimico and New Toronto Market Update for October 2021.

I’ve compiled the sold data for all freehold home types that sold in the last 6 months from April 1, 2021 to September 30, 2021.

Last month when I compiled the sold data there were only 7 houses for sale in Mimico and today there is 13. Inventory has increased slightly and it may be a trend we continue to see in the fall market as I mentioned in my last market update. In case you missed it, you can view it here.

It is very interesting to note the differences in the New Toronto and Mimico neighbourhoods in the last six months. The median sales price has increased to $1,274,700 from $1,215,000 in Mimico, that’s a 5% increase in the last 6 months! There were less sales too with 105 houses that sold vs. 114. This tells us it still is a tight market in terms of inventory, it is still a seller’s market in Mimico but, the prices are continuing to trend up.

The average days on the market it takes a home to sell is still sitting at 13.

In the New Toronto neighbourhood, there is also a slight increase in inventory from 7 to 12. The average days on market it is taking to sell a house went down by 1 day to 11. This tells us there is still a lot of demand for homes in the New Toronto neighbourhood. The average median sales price is exactly the same at $1,200,000 even though the list to sales price ratio increased 2% to 103%!

If you are looking to buy a home in Mimico or New Toronto, what are you waiting for? Get in touch with me and let’s make this a reality for you before prices keep going up!

The inventory overall in both neighbourhoods is still very much a Seller’s market. If you are thinking about selling your home in New Toronto or Mimico now is the time to continue to take advantage of the price increases we have seen all year.

If you find yourself wondering what is all involved with preparing, staging and getting your home on the market please reach out to me to schedule a one on one no obligation consultation. I will take a look at your home objectively professionally and through a buyer’s eyes and let you know what areas of your home you need to focus on to prepare it for sale. We will go through a Comparative Market Evaluation to see just how much your home could be worth in today’s market and take the next steps to get you ready for sale!

There you have it! Your Mimico and New Toronto Market Update October 2021.

Be sure to check back next month to see how the market performed again in New Toronto and Mimico and as always I welcome any questions you have about the New Toronto and Mimico neighbourhoods.