Tokai has a strong turnover of sales for such a small suburb, a strong indication of the demand for property in the area, although the number of sales dropped slightly from 42 in 2016 to 38 in 2017 with the highest sale in Glenugie Ave at R6 840 000 earlier this year. Average price for 2016 was R3 928 268 and R4 251 439 for 2017. Property prices in Tokai have maintained steady growth over the last few years with the annual average increase in sales prices between 8-10 % year on year. The average days listing is 67 days with a difference of approximately 7-10% between asking and selling price.
Due to the area’s many attributes, residential properties in Tokai are in constant high demand across all sectors of the market. Entry-level homes and cottages start from around R2.5million, ranging up to around R4-6 million for a spacious family home in sought-after Dennendal close to the greenbelt and Tokai Forest and particularly the Forest Glade security complex, where recent sales exceed R4m, homes are generally snapped up when they come onto the market, as such properties are usually tightly held by owners.
Despite the slowdown in growth nationally, Cape Town and Tokai are still thriving. However, due to changing property market conditions, the key for serious sellers is smart pricing and all the more reason to choose a reputable company and agent that can offer you the best marketing solutions for your property –
Contact Fiona Eadie on 083-2703353 for further details.
DENNENDAL 3RD QUARTER 2016
| Number of sales: | 15 | |
| Average price: | R 4 369 667 | |
| Average R/m²: | R 4 149 | |
| Total spend: | R 65 545 000 | |
| Median price: | R 4 000 000 | |
Highest sale 10 Paddock Lane R6 350 000 16/7/2016
DENNENDAL 3RD QUARTER 2017
| Number of sales: | 11 | |
| Average price: | R 4 406 818 | |
| Average R/m²: | R 4 494 | |
| Total spend: | R 48 475 000 | |
| Median price: | R 4 000 000 | |
Highest sale 41 Lismore ave R6 800 000 11/01/2017
TOKAI 3RD QUARTER 2016
| Number of sales: | 27 | |
| Average price: | R 3 486 870 | |
| Average R/m²: | R 3 895 | |
| Total spend: | R 94 145 500 | |
| Median price: | R 3 400 000 | |
Highest sale 39 Anderson Close R4 800 000 17/04/2016
TOKAI 3RD QUARTER 2017
| Number of sales: | 27 | |
| Average price: | R 4 096 060 | |
| Average R/m²: | R 4 259 | |
| Total spend: | R 110 593 617 | |
| Median price: | R 3 850 000 | |
Highest sale Glenugie Ave R6 840 000 Jan 2017