In October of 2013, 14 homes changed hands in Davisville Village, which is a significant 50% decrease from last October’s 28 that were sold in the neighbourhood. In addition, the average dollar value of these transactions only rose by 2.7%. There was a 28.2% increase in the value of detached homes, which was disproportionally skewed due to only 4 homes transacting close to or above one million dollars. It also included the neighbourhood’s highest sale-to-date which created a new pinnacle of $1,987,000. Last year, the average monthly value for all homes sold in Davisville Village was $949,504, compared to $974,836 this year. 4 Semi-detached homes sold in October of 2013, compared to 12 in August of 2012 representing a 41% decline in sales volumes for the month.
Davisville Village year-to-date home sales are down, from 168 in 2012 to 132 in 2013 — a decrease of 21.4%. Detached home sales are down 25.3% for the year. The volume of semi-detached home sales, were also down 21.5% year-to-date in 2013.
Year-to-date, Davisville Village homes have posted a modest 3.3% increase in value compared to this time last year. The value of the average home rose to $966,996 in 2013, up from $936,402 in 2012. Among the 74 detached homes that have sold so far this year, the average sale price is up 6.7% this year, coming in at $1,117,976. Semi-detached home values are down -2.3% in 2013, to $755,965 compared to $773,486 in 2012.
As of November 7th 2013, there were only 11 homes in Davisville Village for sale. 7 Detached, 2 of which are listed over $1.9 million, 4 semi-detached. This level of inventory is considered low and there are many buyers seeking property in the neighbourhood. Some homes have sold in as little as a day, significantly over the asking price. If you are thinking about selling your home, now may be a fortuitous time.
All statistical information sourced from the Toronto Real Estate Board’s MLS system
For more in-depth information on local real estate trends, contact Jethro Seymour, one of the Top Davisville Village Real Estate Brokers at Royal LePage RES Ltd., Johnston & Daniel Division . Jethro Seymour 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. For more information, call Jethro Seymour, Broker at 416-712-0767, email Jethro@SeymourRealEstate.ca.
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