The east end of the Toronto was the hottest place to buy real estate during the first month of 2014. Seven out of the top ten hottest MLS Districts in the city are in the east end including all three East York districts and four districts in Scarborough.
To calculate our hot list we focused on the sales-to-inventory ratio published in the Toronto Real Estate Board January 2014 market report. The sales-to-inventory ratio is a ratio of the number sales in a given month divided by the number of homes available for sale. In a balanced market, we can expect to see a sales-to-inventory ratio of roughly 20% which translates into one house sale for every 5 homes available for sale. The higher the ratio the more competitive the market is.
The following chart shows the sales-to-inventory ratio for our top ten performers in January 2014.
The E03 MLS District (The Danforth, Old East York) tops the list with a sales-to-inventory ratio of 85%. This was followed by W07 (Sunnylea) in the west end and E09 (Woburn, Bendale-Cedabrae), W03 (Earlscourt, Harwood) and E02 (The Beach) rounding out the top 5 neighbourhods.