Victoria Park North Market Analysis: Declining/Stable

Victoria Park

While Median Price INCLINED 8%, YEAR OVER YEAR average Closed Sale Price DECLINED 6% to $576,955 from $614,660, Closed Sale Price/LOT (area) DECLINED 12% to $73.88/SqFt from $84.34, and Closed Sale Price/LIVING (area) INCLINED 4% to $360.10/SqFt from $345.17.

CURRENT INVENTORY: 28 listings (Absorption Rate 9 months); Median Price $699,990, Average Price $748,485, LOT $112.15, and LIVING $386.71.  SPREAD (Current Inventory/Closed Sale Values Trail-12): Median Price +35%, Average Price +30%, LOT +52%, and LIVING +7%.

PENDING SALES: 3, Median Price $645,000, Average Price $628,833, LOT $79.54, and LIVING $387.45.  SPREAD (Pending Sales/Closed Sale Values Trail-12): Median Price -8%, Average Price -16%, LOT -29%, and LIVING +0.19%.

MACRO MARKET TRENDS: STABILITY Trail-12 Closed Sale Values: Median Price/Average Price 90%; of the 31 closed sales, 61% were Under Average PRICE, 61% were Under (Moody’s ‘Long-Run’ Affordability Price/Rent Ratio), 52% were Under Average LOT, and 48% were Under Average LIVING.

MACRO MARKET TRENDS Trail-12: Closed Sales (annual) DECLINED to 31 from 42; Days on Market INCLINED to 121 from 86; Discount DECLINED to -4.12% from -5.43%; PRICE/RENT Ratio DECLINED to 16.10 from 17.70, Annual Rent INCLINED 3% to $35,836 from $34,729, and; Rentals INCLINED to 22 from 21.

MICRO MARKET DATA: RANK Closed Sale Price/LOT by SECTOR Trail-24:  Northeast $82.80, Northwest $77.56.

MICRO MARKET DATA: RANK Closed Sale Price/LOT by STREET by SECTOR Trail-24: (High 5) Street NE 13 Av NW Sector $114.81, N VP Rd NE $98.48, NE 6 Ct NW $97.15, NE 16 Te NW $90.38 and NE 6 Ct NE $89.95; (LOW 5) NE 6 St NW $50.24, NE 10 Av $51.56, NE 14 Av NW $52.22, NE 8 Av NW $54.81 and NE 8 St NE $56.02.