{"id":15570,"date":"2018-05-29T10:07:16","date_gmt":"2018-05-29T14:07:16","guid":{"rendered":"http:\/\/www.zoocasa.com\/blog\/?p=15570"},"modified":"2019-07-08T11:40:57","modified_gmt":"2019-07-08T15:40:57","slug":"toronto-neighbourhoods-with-the-fastest-days-on-market","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/","title":{"rendered":"Toronto Neighbourhoods with the Shortest Days on Market [INFOGRAPHIC]"},"content":{"rendered":"<p>In the year\u00a0following the Fair Housing Plan, some Toronto neighbourhoods have remained hot sellers&#8217;\u00a0markets \u2013 but that\u2019s not necessarily the case everywhere in the 416. While around-the-block open house lineups are commonplace in some neighbourhoods, listings languish with nary an offer in others.<\/p>\n<p>The number of days a home remains for sale is an important metric when gauging the level of competition in a given market. In addition to the average sale price, number of sales, and the sales-to-new-listings ratio (which determines whether a market is within buyers\u2019 or sellers\u2019 territory), there\u2019s a lot both buyers and sellers can glean from the length of time a listing remains active.<\/p>\n<p><strong>Related Read: <a href=\"https:\/\/www.zoocasa.com\/blog\/best-ontario-cities-for-home-affordability-infographic\/\">Best and Worst Ontario Cities for Home Affordability<\/a><\/strong><\/p>\n<h2>What Does Average Days on Market (DoM) Mean?<\/h2>\n<p>Simply put, the &#8220;days on market&#8221; (DoM) refers to the length of time a listing remains active on MLS before it is sold in a firm deal. The aggregate DoM for a group of homes in a specific area, over a certain timeframe, can also be calculated by adding up all the active days for all the homes for sale, and dividing that by the number of listings. Generally, a shorter average DoM indicates a sellers\u2019 market, while a longer DoM suggests buyers\u2019 market conditions.<\/p>\n<p>The DoM also provides both buyers and sellers important insights for individual properties; a seller can use it to determine whether their listing is performing well in comparison to similar properties, while buyers can see whether the home has generated a lot of interest thus far.<\/p>\n<p>A longer DoM may also suggest the sellers are in a position to negotiate, as the homes that linger on MLS can, in some instances, develop a stigma \u2013 buyers may think there\u2019s something wrong with the home, and submit a lower offer, or pass on it\u00a0altogether. This can be especially acute in the Toronto real estate market, where incredibly tight inventory means leftover homes stick out like a sore thumb.<\/p>\n<p>In fact, DoM can be so important that a common strategy for sellers of overlooked homes is to pull their listing from the market altogether, reassess their marketing and pricing strategy, and relist at a later date, with a new MLS ID (and often a new price) to seize the chance to get back in front of buyers with a seemingly fresh listing.<\/p>\n<h2>Which Toronto Neighbourhoods Have the Shortest and Longest DoMs?<\/h2>\n<p>To identify the 416 neighbourhoods where homes are moving at the fastest clip, Zoocasa compared each area to the city average, which was 16 days in April, according to <a href=\"https:\/\/www.zoocasa.com\/blog\/national-april-home-sales-fall-to-5-year-low-crea\/\">data released by the Toronto Real Estate Board<\/a>.<\/p>\n<p>The numbers reveal homes are moving at a slower pace compared to the same time last year: on average, condos are taking eight days longer to sell at a total of 18, while detached homes require an additional 13 days than they did in 2017, at a total of 22 DoM.<\/p>\n<p><img \/><a href=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-15575 size-full\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-1.png\" alt=\"toronto-days-on-market-zoocasa\" width=\"1301\" height=\"4081\" data-id=\"15575\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-1.png 1301w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-1-96x300.png 96w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-1-768x2409.png 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-1-326x1024.png 326w\" sizes=\"auto, (max-width: 1301px) 100vw, 1301px\" \/><\/a><\/p>\n<h2>Fastest-Selling Toronto Neighbourhoods Compared to 2017<\/h2>\n<p><strong>Condos:<\/strong><\/p>\n<p>1: E06 \u2013 12 DoM (-64%)<\/p>\n<p>2: E02 \u2013 15 DoM (-40%)<\/p>\n<p>3: C02 \u2013 17 DoM (-37%)<\/p>\n<p>4: C04 \u2013 14 DoM (-22%)<\/p>\n<p>5: W03 \u2013 13 DoM (-13%)<\/p>\n<p><strong>Detached Houses:<\/strong><\/p>\n<p>1: W01 \u2013 7 DoM (-30%)<\/p>\n<p>2: E02 \u2013 7 DoM (-13%)<\/p>\n<p>(TIE) 3: W02 \u2013 8 Dom (0%)<\/p>\n<p>(TIE) 3: C02 \u2013 12 Dom (0%)<\/p>\n<p>4: C04 \u2013 12 DoM (9%)<\/p>\n<p>5: C09 \u2013 9 DoM (13%)<\/p>\n<h2>Slowest-Selling Toronto Neighbourhoods Compared to 2017<\/h2>\n<p><strong>Condos:<\/strong><\/p>\n<p>1: E08 \u2013 31 DoM (+520%)<\/p>\n<p>2: C03 \u2013 19 DoM (+171%)<\/p>\n<p>3: E05 \u2013 20 DoM (+150%)<\/p>\n<p>4: E10 \u2013 25 DoM (+127%)<\/p>\n<p>(TIE) 5: W04 \u2013 27 DoM (+125%)<\/p>\n<p>(TIE) 5: W07 \u2013 18 DoM (+125%)<\/p>\n<p>(TIE) 5: C07 \u2013 18 DoM (+125%)<\/p>\n<p><strong>Detached Houses:<\/strong><\/p>\n<p>1: W05 \u2013 31 DoM (+288%)<\/p>\n<p>2: W04 \u2013 26 DoM (+271%)<\/p>\n<p>3: C12 \u2013 31 DoM (+210%)<\/p>\n<p>(TIE) 4: C01 \u2013 17 DoM (+183%)<\/p>\n<p>(TIE) 4: E08 \u2013 17 DoM (+183%)<\/p>\n<p>5: C06 \u2013 22 DoM (+175%)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the year\u00a0following the Fair Housing Plan, some Toronto neighbourhoods have remained hot sellers&#8217;\u00a0markets \u2013 but that\u2019s not necessarily the case everywhere in the 416. While around-the-block open house lineups are commonplace in some neighbourhoods, listings languish with nary an offer in others. The number of days a home remains for sale is an important [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":15576,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[1114,1107,33],"tags":[],"class_list":["post-15570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability-reports","category-infographics","category-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Toronto Neighbourhoods with the Shortest Days on Market | Zoocasa<\/title>\n<meta name=\"description\" content=\"What are the Toronto neighbourhoods with the shortest days on market? 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The DoM can indicate how in-demand a certain area is by...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-29T14:07:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-08T15:40:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2018\/05\/toronto-days-on-market-zoocasa-blog.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1752\" \/>\n\t<meta property=\"og:image:height\" content=\"1003\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Penelope Graham\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Penelope Graham\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/\"},\"author\":{\"name\":\"Penelope Graham\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/9a2554dc39c550f5ef3339b25aa1f09c\"},\"headline\":\"Toronto Neighbourhoods with the Shortest Days on Market [INFOGRAPHIC]\",\"datePublished\":\"2018-05-29T14:07:16+00:00\",\"dateModified\":\"2019-07-08T15:40:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/\"},\"wordCount\":573,\"publisher\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#organization\"},\"articleSection\":[\"Affordability Reports\",\"Infographics\",\"Real Estate News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/\",\"url\":\"https:\/\/www.zoocasa.com\/blog\/toronto-neighbourhoods-with-the-fastest-days-on-market\/\",\"name\":\"Toronto Neighbourhoods with the Shortest Days on Market | Zoocasa\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#website\"},\"datePublished\":\"2018-05-29T14:07:16+00:00\",\"dateModified\":\"2019-07-08T15:40:57+00:00\",\"description\":\"What are the Toronto neighbourhoods with the shortest days on market? 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