Prime Riverdale 2004 statistics
Prime Riverdale, like many other "hot" neighbourhoods, experienced a very busy year.
Following are the statistics on sales in the area in 2004:
Sales of attached homes:
| | No | Average | Low | High |
| List price | 12 | $356,925 | $269,900 | $445,000 |
| Original price | 12 | $358,167 | $269,900 | $445,000 |
| Sold price | 12 | $356,029 | $267,000 | $435,000 |
| % list | 12 | 99.6 | 93 | 107 |
| Taxes | 12 | $2,584 | $1,900.00 | $3,242.39 |
| Bedrooms | 12 | 2.5 | 2 | 4 |
| Washrooms | 12 | 1.7 | 1 | 3 |
| Days on market | 12 | 18 | 5 | 67 |
In 2003, 9 attached homes were sold, with an average price of $310,589, at 102% of the asking price on average. That percentage ranged between 96% and 113%. Last year 12 attached homes changed hands, and the average price is up by 14.6%.
It is interesting to see that the house that lingered on the market for the longest time (67 days) eventually was sold at 105% of the original asking price.
Sales of semi-detached homes:
| | No | Average | Low | High |
| List price | 86 | $407,788 | $199,900 | $589,000 |
| Original price | 86 | $410,454 | $199,900 | $589,000 |
| Sold price | 86 | $423,511 | $205,000 | $605,000 |
| % list | 86 | 103.9 | 92 | 129 |
| Taxes | 86 | $3,188 | $1,517.08 | $4,892.92 |
| Bedrooms | 86 | 3.1 | 2 | 6 |
| Washrooms | 86 | 2.1 | 1 | 4 |
| Days on market | 86 | 13 | 3 | 56 |
86 semi-detached homes changed hands last year. They ranged in price from $205,000 for a small 2-bedroom semi on a corner lot, to $605,000 for a beautifully renovated 3-storey Victorian residence with a basement apartment and a garage. The average selling price of $423,511 means a 6.7% increase from 2003.
One of the homes sold in 2004 was not suitable even for renovation, and was sold at land value.
Sales of detached homes:
| | No | Average | Low | High |
| List price | 64 | $482,733 | $289,000 | $879,000 |
| Original price | 64 | $488,033 | $289,000 | $879,000 |
| Sold price | 64 | $488,594 | $275,000 | $926,042 |
| % list | 64 | 101.3 | 78 | 125 |
| Taxes | 64 | $3,617 | $1,874.04 | $6,316.21 |
| Bedrooms | 64 | 3.3 | 2 | 6 |
| Washrooms | 64 | 2.3 | 1 | 4 |
| Days on market | 64 | 20 | 2 | 95 |
Sixty four detached homes were sold in 2004, considerably more than the 36 that were sold in 2003. In 2003 the average price for a detached home was $460,236, (99.92% of the asking price, on average). in 2004 the average selling price was $488,594 - a 6.2% increase.
It is evident that this year was busier and sales were more frantic even by comparing the sold to list price ratio. Increased inventory didn't slow down the market. On the contrary, the average time on the market decreased, and on average properties were selling above the asking price.
We have seen many multiple offers, even late in the year. Well priced homes sold 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 situation often results in the selling price below what the property should receive, if it had been priced properly.
If you wish to see statistics for your neighbourhood, please contact me. I will be glad to e-mail a report to you.
