In the current resale market it has become obvious that pricing most properties preparing for market is not aligned with market values, at least as received by Buyers. This is no doubt due to the lingering after-effect of the Covid-19 resale market when properties, for the most part, sold above their list prices. This is no longer the case.
In the greater Toronto area, all properties sold during the month of June were reported sold at 98 percent of their asking price and took 42 days to sell.
The sales-to-list ratio of 98 percent is not uniform. Contained in the universe of June sale prices are condominium apartments, detached, semi-detached and townhouse properties. In addition, different neighbourhoods and real estate districts throughout the greater Toronto area — Burlington in the West, Innisfil, Georgina and Brock to the North, and Clarington to the East — have been more attractive to buyers than others. Consequently, any definitive or universal analysis of list price vs. final selling price is not possible or realistic.
The results of this study are based on the following data: all sales in C09 in Toronto — basically Bloor Street to the south, Moore Avenue to the north, Bayview to the east and Yonge Street to the west — from January to June 2025. The range of sale prices was from a low of $1,130,000 to a high of $16,180,340.
This district encompasses Rosedale, one of Toronto’s most affluent neighbourhoods.
In total, 60 property sales were analyzed. Given the price point of many of the properties within this district, sales are not as rapid as in some other G.T.A. neighbourhoods, although as the data indicates, realistically priced properties will move quickly regardless of price point.
Results
- Overall, the average sale price of all 60 properties reported sold came in at $3,585,933.This average sale price was 93 percent (on average) of the initial list price of these 60 properties — 5 percent lower than the average divergence between list and final sale price for the greater Toronto area resale market.
It should also be noted that on average, each of the 60 properties had 1 (0.9) price adjustments before being reported sold. Importantly, some of these 60 properties sold above their asking price (greater than 100 percent) and averaged a sale price of $3,485,513 in 7 days without a price adjustment.
The results of these sales strongly point to the fact that accurately priced or strategically underpriced properties will attract immediate interest, creating competitive environments that push the final sale price higher than the list price.
- By contrast, properties that sold below their asking price, although at significantly higher price points then typical Toronto area properties, required frequent price adjustment (1.24 times on average) and remained on the market for extended periods before sale, averaging 110 days.This underscores the fact that properties, particularly higher-priced properties, that enter the market with ambitious asking prices, often result in prolonged market exposure and often require price reductions to facilitate sales.
- Interestingly, the listings associated with most price reductions (averaging 3.2 adjustments) were the most expensive properties, achieving an average sale price of $4,190,253, yet they realized only 85 percent of their original list price and on average spent 179 days on the market.These results further underscore and highlight that unrealistic, aggressive initial pricing will necessitate multiple price adjustments and potentially a lower realized sale price than if a more realistic, fair market value list price was selected when the property was first listed.
- Lastly, listings that did not alter their list price before sale averaged a sale price of $3,757,777 and came in at 99 percent of their asking price and sold in a remarkable 13 days.This data strongly emphasizes the efficacy of accurate initial pricing, which aligns with buyer perceptions of market value — which in turn results in quick sales at prices close to or at the asking price.
Below is a chart setting out the result of the 60 property C09 sales vs. initial listing price analysis by price point.
Conclusion
The data from C09 and the 60 sales in 2025 clearly demonstrate the critical impact of accurate initial list prices and optimum sale price outcomes. Misalignment between initial price expectations and buyer market perceptions significantly extends selling time and necessitates frequent price revisions, particularly pronounced in the luxury property segment.
Please use this data with clients when engaging with list price strategies. This data demonstrates that a realistic and market-driven marketing strategy will have fast and extremely beneficial sales results.
Analysis by Chris Kapches. Data by Christian Mijatovic
