Homes in nine GTA neighbourhoods, including one in Whitby, selling in less than two weeks

It may be taking longer to sell homes in nearly 90 per cent of neighbourhoods across the GTA but nine communities – including one in Whitby – are seeing homes change hands less than two weeks after hitting the market.

Digital real estate platform Wahi looked at 400 different communities around Toronto and examined the average period of time that homes stayed listed on the market before selling (or being delisted) during the third quarter of this year. In general, the neighbourhoods with the quickest turnover were low-rise neighbourhoods in Toronto, with two neighbourhoods in Markham and the Blue Grass Meadows community in Whitby the only exceptions.

“People talk about there being a Toronto housing market, but real estate is also influenced by factors on a much more local level,” says Wahi CEO Benjy Katchen. “The type of property, how it’s priced, the neighbourhood it’s located in all have an impact on how quickly it sells.”

Looking at the entire region as a whole, homes stayed listed for an average of 28 days in Q3, up nine days from the same time last year, but in some neighbourhoods, the average days on market was much lower.

Raymerville, with homes in the centrally located Markham neighbourhood, led the pack, with homes staying on the market for an average of just 10 days. Five neighbourhoods in Toronto – Allenby (Old Toronto), Broadview North (East York), Fallingbrook (Scarborough) and Sunnylea and Thistletown (Etobicoke) were tied at 11 weeks on the market.

Blue Grass Meadows, located in south-east Whitby (bordering Oshawa) was one of three neighbourhoods with homes selling on average after just 13 days on the market.

The others were Milliken Mills West in Markham and Parkview-Topham Park in East York.

Blue Grass ($890,000) and Thistletown ($992,000) are the only communities on the list with home prices averaging less than $1 million.

The seven slowest-selling neighbourhoods were all on the west side of the GTA, with three on the list in Burlington. Those neighbourhoods saw homes sell after 57 to 63 days on the market.

Blue Grass community in Whitby