Davisville Village Home Sales Statistics for August 2018

Sales Volume Changes*
All homes – down 21.1% to 127
Detached – down 24.7% to 70
Semi-detached – down 12.3% to 50

Dollar Value Changes*
All homes - down 4.6% to $1,540,211
Detached - up 2.4% to $1,776,577
Semi-detached - down 11.3% to $1,242,729

*MLS 12-month year-over-year changes ending August 31, 2018; Provided by Jethro Seymour

Monthly Update

One detached and four semi-detached homes changed hands in Davisville Village last month, marking a 37.5% drop over the eight home sales in August of last year. The average value of those five homes decreased by 18.9%, from last year’s August sale price average of $1,440,938 to $1,168,000. Detached homes were valued at an average price of $1,520,000, a 0.4% increase from last year’s $1,513,333. Value for semis, however, dropped 11.7% from last year’s $1,223,750, falling to $1,080,000.

Year-To-Date Update

Over the first eight months of 2018, 74 homes were sold. This marks a 39.3% drop compared to the year-to-date August 2017 sales figures, which saw 122 completed transactions. Thirty-eight detached homes have changed hands so far this year, with an average value of $1,750,180. This is a 2.1% decrease compared to the average sale price of $1,788,210 for the 70 detached homes that changed hands in the first eight months of 2017. Semi-detached home sales decreased 29.5% compared to last year, falling from 44 to 31. Average value also declined 14.9% from last 2017, from $1,430,153 to $1,217,565.

Davisville Village home values drop 4.6 % over last year!

As of September 6th, 2018, there are 13 homes available in the Davisville  Village area. These homes range in price from $1,200,000 for a semi on Thurston Road (36 days on the market) to $2,699,900 for a detached home on Manor Road East (65 days on the market).

Last month, five homes sold in Davisville, including one detached and four semi-detached homes. The average time to sell a home was 14 days; one home on Thurston Road sold two days after it was listed,  while the longest lasted 29 days on the market. This doesn't include the four homes that had been listed for more than 30 days or the five homes that were listed in the month of August and are not selling at their current listed prices.

Only one of the five August home sales sold at or above their listed price. The highest-selling home was a detached 3-bedroom, 2-bathroom home on a 25 x 128 - foot lot with a mutual drive and garage on Manor Road East. It sold for $1,520,000 (96% of the asking price). It was followed by a home on Millwood Road which sold for $1,240,000 (3% above the asking price). 

Entry into the  Davisville Village market now requires buyers to spend over a million dollars for a semi-detached home and at least $1,200,000 for a detached home. Buyers continue to look for homes in midtown while low inventory still continues to drive bidding on homes.

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.

View home sales statistics for July 2018 here.

August Sales in Davisville Village 

Source: TREB MLS Sales Data as of September 6, 2018
Statistics Provided by Jethro Seymour, Broker of Record

Jethro Seymour is one of the Top Davisville Village Real Estate Brokers and 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.