Roncesvalles Village real estate - January 2007

Roncesvalles Village is a popular choice for home purchase among young professionals and young families. The shops, cafes and restaurants on Roncesvalles are busy, High Park - one of Toronto's most popular parks, is within walking distance, and the neighbourhood is within an easy commute to the downtown business area. The home sales pace in the Village is brisk. 91 homes and 4 lofts were sold here during 2006, with an average selling to listing price ratio of 104.1% for freehold properties and 103% for lofts. The average selling price was $500,067 for freehold homes and $294,825 for lofts. June had the highest number of sales - 14, with March and April at 13 each. Open houses were crowded, and multiple offers resulted in some homes selling above asking price.

The average time a listing took to sell was 18 days, but that included one four-family home that took 293 days to sell and sold, eventually, $105,000 below asking. 49 freehold properties sold over the asking price, the majority of them in March and April. Some slowing of the market is visible by the end of the year, with only ten listings selling above asking price in the second half of the year, three of them in September, three in November, and, interestingly, none in October. The average selling to listing price ratio in October was 99.1%.

If you wish to find a property in this area, please contact me. My clients have access to all current listings in this, and several other selected neighbourhoods.

Following are the statistics on sales in the area for 2006:

Sales of attached homes.

In 2006 eleven attached homes were sold, in a price range from $330,000 for a 14-feet wide Victorian with no parking to $551,000 for a two-storey renovated home with a large kitchen and a breakfast room. All but one sold above asking price.

Sales of semi-detached homes.

Thirty eight semi-detached homes have changed hands during the year. The average selling price was $463,801, ranging from $301,000 for a freshly renovated home with no parking on one of the less popular streets to $632,500 for an extra-large, beautiful home with lane parking, lovely garden and a basement apartment. Twenty semi-detached homes sold above asking price.

Sales of detached homes.

Forty one detached homes sold since the beginning of the year, at an average price of $548,894, ranging from $270,000 for a garage converted into a freehold loft in the laneway in the south part of the area, to $820,000 for a superbly renovated, large Victorian home with a double garage accessed by a back lane. It took the longest time - 293 days - to sell a four-unit home, an estate sale, which, ultimately, sold for 83% of asking price. If we excluded this sale, the average selling to listing price ratio rises to 102.7%. The highest ever price for a single family home east of Roncesvalles, $820,000, was paid for a beautifully restored and renovated Victorian detached residence in the lower Village.

Only four lofts were sold in 2006, ranging in selling price from $210,000 to $459,000, and selling, on average, for 103% of listing price. One attached 'duplex' sold in March for $395,000, at 99% of asking, in 13 days.

You can also check 2005 Statistics

If you wish to see statistics for your neighbourhood, please contact me. I will be glad to e-mail a report to you.