Roncesvalles / High Park 2004 real estate
Roncesvalles Village has become a desired location for home buyers who notice how well serviced and how attractive this area has become. 2004 has surpassed all the local records.
By the end of December 12 homes remain listed for sale, in the price range from $429,900 for a 2-storey semi-detached home to $599,500 for a 2.5-storey detached 4-unit house.
Following are the statistics on sales in the area in 2004:
Sales of attached homes.
| | No | Average | Low | High |
| List price | 20 | $335,545 | $199,900 | $469,900 |
| Original price | 20 | $340,085 | $199,900 | $469,900 |
| Sold price | 20 | $340,037 | $182,000 | $471,000 |
| % list | 20 | 101.05 | 90 | 114 |
| Taxes | 20 | $2,352 | $1,937.92 | $3,235.79 |
| Bedrooms | 20 | 3.1 | 1 | 5 |
| Washrooms | 20 | 1.7 | 1 | 3 |
| Days on market | 20 | 16 | 5 | 79 |
In 2003, 10 attached homes were sold, with an average price of $337,210, at 103.3% of the asking price on average. That percentage ranged between 99% and 11%. In 2004 twice as many attached homes changed hands, and the average price is up by 0.8%. If we excluded, however, the lowest selling property, which, at $182,000, is not really representative of the area, the average selling price rises to $348,355. That means that prices of attached homes are up by 3.3%.
The house that lingered on the market for the longest time (79 days) was originally priced too high, and only after a reduction of almost 18% was sold at 90% of the reduced asking price.
Sales of semi-detached homes.
| | No | Average | Low | High |
| List price | 82 | $394,091 | $299,000 | $709,000 |
| Original price | 82 | $397,266 | $299,000 | $709,000 |
| Sold price | 82 | $410,551 | $279,000 | $720,000 |
| % list | 82 | 104.27 | 87 | 125 |
| Taxes | 82 | $2,845 | $1,429.29 | $3,896.80 |
| Bedrooms | 82 | 3.6 | 2 | 7 |
| Washrooms | 82 | 2.3 | 1 | 5 |
| Days on market | 82 | 16 | 1 | 117 |
81 semi-detached homes changed hands in 2003. In 2004 there were 82 semi-detached residences sold.
In 2003 average selling price for a semi-detached home was $368,237, on average at 102.77% of the asking price. In 2004 the average sold price for a semi-detached residence was up to $410,551 - a 11.5% increase year over year.
2.5-storey homes were the ones with the highest number of sales - 41, exactly a half. Next were two-storey semis, at 31. Only 10 three-storey semis changed hands.
Sales of detached homes.
| | No | Average | Low | High |
| List price | 102 | $528,566 | $289,900 | $969,000 |
| Original price | 102 | $532,643 | $289,900 | $969,000 |
| Sold price | 102 | $530,170 | $245,000 | $920,000 |
| % list | 102 | 100.44 | 85 | 122 |
| Taxes | 102 | $3,924 | $1,900.00 | $6,593.84 |
| Bedrooms | 102 | 4.4 | 2 | 8 |
| Washrooms | 102 | 2.9 | 1 | 9 |
| Days on market | 102 | 23 | 2 | 139 |
In 2004 102 detached homes were sold, 12 more than the 90 that were sold in 2003. 2003 average price for a detached home was $502,628, (101.72% of the asking price, on average). In 2004 the average selling price is $530,170 - a 5.5% increase.
In my analysis I did not take into account the two highest sales on High Park Boulevard and High Park Gardens. Homes of that stature are not plentiful in the area, and including these sales would skew the general result.
We have seen many multiple offers, even late in the third quarter. Well priced homes were selling quickly and well. On occasion, when an owner insistsed on an unreasonable asking price, the property lingered on the market and sold only after the price has been reduced. Such mistake often results in the selling price below what the property should receive, if it had been priced properly.
You can also visit 2003 Statistics. If you wish to see statistics for your neighbourhood, please contact me. I will be glad to e-mail a report to you.
