Mimico & New Toronto Market Update for January 2022
As we enter in 2022 a New Year is upon us! Let’s take a look at how real estate ended in 2021 in terms of sales in Mimico and New Toronto. Here is the sold data for freehold homes from July 1 – December 31, 2021.
As we move into the first month of 2022, the consistent theme of low inventory continues. There are currently only 5 houses for sale in Mimico. There were a total of 76 homes sold in Mimico in the last 6 months with an average days on market to sell a home of 14 which was the same as last month’s stats. If you missed that market update, you can view it here.
It is very interesting to note the differences in the 2 different neighbourhoods in the last six months. The average sold price in Mimico is $1,388,790.
In the New Toronto neighbourhood, there are also only 5 homes currently for sale. The average days on market it is taking to sell a house in New Toronto is 13. Up 1 more day from last month. This tells us there is a slightly higher demand for homes in the New Toronto neighbourhood.
The average sold price in New Toronto is slightly lower than Mimico at $1,357,077.
If you are looking to buy a home in Mimico or New Toronto what are you waiting for? The frenzied pace of home sales due to the pandemic is not going to go away anytime soon. My advice is always to buy now before prices continue to climb.
Overall both Mimico and New Toronto continues to be a very strong Seller’s market. If you are thinking about selling your home in New Toronto or Mimico I would recommend taking advantage of my 3 Part Selling System to set you up for success.
If you find yourself overwhelmed with even the idea of getting your home ready for sale and not knowing what to do first I can help direct you. Knowing what to fix and what to paint is all part of preparing your home for sale before you even get to staging it.
I would be happy to schedule a FREE no obligation consultation to go through your home and tell you exactly what to spend your time and money on. Which fixups will get you the most return on your investment. We will also go through a Comparative Market Analysis of your home to give you an idea of what your home could be worth in today’s real estate market. If this sound like something you would be interested in, please book a time with me here to discuss your real estate needs.
For more information on market updates in Mimico and New Toronto please check back again next month. As always I welcome any questions you have about these fabulous etobicoke neighbourhoods or feel free to schedule a time with me here to discuss buying or selling.