Sales Volume Changes*
All homes – down 10.3 % to 148
Detached – up 6% to 89
Semi-detached – down 28.2% to 51
Dollar Value Changes*
All homes - up 5.1% to $1,597,021
Detached - up 6.8% to $1,802,654
Semi-detached – down 0.5% to $1,282,351
*MLS 12-month year-over-year changes ending April 30, 2018; Provided by Jethro Seymour
Five detached and six semi-detached homes changed hands in Davisville Village in April, a 50% drop compared to 22 home sales in the same month last year. The average value of those eleven homes decreased by 9% from last year’s $1,682,255 to $1,530,187. The detached homes were valued at an average price of $1,902,411, a 1.1% increase from last year’s $1,882,221. Value for semis dropped 8.4% from last year’s $1,332,315 to $1,220,000.
For the first four months of 2018, thirty homes were sold, a 47.4% drop compared to the year-to-date April 2017 sales which was at 57. Fifteen detached homes changed hands so far with an average value of $1,893,737 or a 4% increase compared to $1,821,360 for twenty-eight detached homes sold within the first four months of 2017. Semi-detached home sales decreased 50% from twenty-four to twelve while value also fell 19.1% from $1,533,698 last year to $1,240,833.
Davisville Village detached sales up by 6 % over last year!
As of May 1st, 2018, there are 15 homes available in the Davisville Village area. These homes range in price from $1,268,000 for a semi on Soudan(1 day on the market) to $2,730,000 for a detached with a garage on Belsize Drive(71 days on the market).
In April, 11 homes sold in Davisville, including 5 detached and 6 semis. The average time to sell a home was 7 days; one home took only 1 day, while the longest lasted 16 days on the market. This doesn't include the 6 homes that had been listed for more than 30 days or the 5 homes (4 relists) that were listed in the month of April and are not selling at their current listed prices.
All but 2 of the 11 April home sales sold at or above their listed price. The highest-selling home was a newer detached 4-bedroom home on a 25 x 125-foot Manor Road lot, with a private drive and garage. It sold for $2,600,000 (4% above the asking price). It was followed by a home on highly coveted Belcourt Avenue, which sold for $2,250,000 (3% above the asking price). Both were very nice homes.
Entry into the Davisville Village market now requires buyers to spend over a million dollars. The Seymour Team listed a semi-detached home at 262 Belsize Drive, which sold for 23% above the $998,000 listed price and 14% higher than the next-highest home in the neighbourhood’s real estate market. Buyers are still actively looking for homes in midtown despite the implementation of the OFSI Stress Test and higher mortgage rates.
Low inventory will continue to drive bidding on homes through May and into June. All 5 banks recently raised their posted rates, which will have an effect on new entrants into the buying market and will add downward pressure on prices should inventory increase.
Consider me your Davisville Village neighbourhood real estate expert and resource. When it is time to move, I am here to help with insightful strategies, expert negotiation skills and results-focused marketing plans.
April Sales in Davisville Village
|Detached||No. of Sold||Avg. Price||% of List Price||Days on Market|
|Semi-detached||No. of Sold||Avg. Price||% of List Price||Days on Market|
Source: TREB MLS Sales Data as of May 1, 2018
Statistics Provided by Jethro Seymour, Broker & MCNE
Jethro Seymour, one of the Top Davisville Village Real Estate Brokers at Royal LePage RES Ltd., Johnston & Daniel Division.
Jethro is a midtown Toronto residential specialist with over 20 years of sales experience in real estate, marketing, construction and publishing. He has helped many families find homes in Toronto’s great neighbourhoods, and has extensive knowledge of local markets, new home construction, resale home sales, and the condo market. Living in midtown Toronto, Jethro previews many of the homes that come to market for his clients and inventory knowledge. Jethro specializes in Midtown, Davisville Village and Leaside neighbourhoods.