Roncesvalles Village real estate - January 2008

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 was very busy in 2007, with the third quarter the busiest, with buyers trying to avoid the Toronto Land Transfer tax that was coming into effect in 2008. 

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.

Twenty three attached homes were sold in 2007, the lowest priced being a narrow 2-storey townhouse sold under power of sale on Fuller, the highest a beautiful 2.5-storey Victorian home on Wright, which sold in 7 days for 105% of the asking price. Out of the twenty three homes sold, fifteen were sold above asking price and two at full asking price.

Sales of semi-detached homes.

Fifty five semi-detached homes have changed hands in the first eight months of 2007. The average selling price was $482,586. 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 Macdonell. Twenty seven semi-detached homes sold above asking price, and five for a full asking price.

Sales of detached homes.

Fifty one detached homes were sold in 2007, at an average price of $614,005. Selling prices ranged from $351,500 for a small Victorian 3-bedroom 2-storey home on Columbus, to $995,000 for a renovated and restored large Victorian home with a double garage accessed by a back lane located on Marion. This handsom home was sold in 10 days for 93% of the asking price.

Fourteen lofts were sold in 2007, ranging in selling price from $223,500 to $543,000, and selling, on average, for 102% of listing price - in 2006 the sale-to-list ratio was 103%.

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.