Roncesvalles Village real estate - September 2007

A lively, family-oriented neighbourhood, Roncesvalles Village is a popular choice among young professionals and young families. The shops, cafes and restaurants on Roncesvalles are busy, and an increasing number of them provide organic produce. Thanks to the Business Improvement Area initiatives many of the storefronts have been beautifully renovated. There are proposals to reconstruct the street, including widening of the sidewalks and make it more pedestrian friendly. Discussions are under way, as that approach would eliminate many paid parking spaces on Roncesvalles, which, if moved to the side streets, would in turn considerably worsen the parking situation for the residents. It is easy to say that public transit is the best option, and restricting parking availability would benefit the neighbourhood and environment, but Roncesvalles has a special appeal for the members of Polish community, who travel, often from afar, to do their specialty shopping here.

Roncesvalles real estate market is very busy. The number of sold properties in the first 8 months of 2007 was 11% higher than in 2006. August, however, was slow, with only one semi-detached home sold. It was an estate sale, listed on August 2nd, and sold in 24 days for 95% of the asking price. As of September 5th no sales have been reported.

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 2007:

Sales of attached homes.

	No	Average	Low	High
List price	10	$432,450	$279,900	$549,900
Sold price	10	$464,300	$280,350	$601,000
% list	10	107.2	96	120
Bedrooms	10	3.2	2	5
Washrooms	10	1.6	1	2
Days on market	10	9	6	18

Ten attached homes were sold so far in 2007, the lowest priced being a narrow 2-storey townhouse sold under power of sale on Fuller, the highest a renovated 2.5-storey home on Galley, which sold in 7 days for 120% of the asking price. Out of the ten homes sold, eight were sold above asking price (on average at 109.5% of asking).

Sales of semi-detached homes.

	No	Average	Low	High
List price	40	$460,015	$329,000	$549,000
Sold price	40	$484,018	$309,000	$641,000
% list	40	105.1	88	124
Bedrooms	40	3.4	2	6
Washrooms	40	2.2	1	4
Days on market	40	13	3	73

Forty semi-detached homes have changed hands in the first eight months of 2007. The average selling price was $484,018, a 4.4% increase from last year's average. The selling price ranged from $309,000 for a rather unattractive 2-bedroom home with private drive and two car parking on one of the less popular streets to $641,000 for a beautifully restored and renovated Victorian home with original details and lane parking on Sorauren. Nineteen semi-detached homes sold above asking price.

Sales of detached homes.

	No	Average	Low	High
List price	24	$580,842	$389,000	$799,000
Sold price	24	$611,688	$431,500	$847,000
% list	24	105.6	92	127
Bedrooms	24	4.4	2	6
Washrooms	24	2.8	21	7
Days on market	24	13	3	74

Twenty four detached homes sold since the beginning of the year, at an average price of $611,688, an increase of 11.4% from the last year's average price. Selling prices ranged from $431,500 for a smartly renovated 2-bedroom 1.5-storey home on Garden, to $847,000 for a renovated and restored large Edwardian home with a double garage accessed by a back lane. This handsom home was sold in 6 days for 107% of the asking price.

Five lofts and one condo apartment were sold so far this year, ranging in selling price from $240,000 to $435,000, and selling, on average, for 103% of listing price - same sale-to-list ratio as in 2006.

You can also check 2006 Roncesvalles Village Statistics, updated in January 2007.

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