Leaside & Bennington Heights January 2016 Home Sales Statistics
During the month of January 2016, only 3 homes changed hands in Davisville Village. That is just 5 homes in the last 2 months. We expect the coming year to be similar to 2015. Our low interest rate environment is expected to hold for most of the coming year. Anticipate the housing market to pick up pace in late February and continue to build steam until March Break. The second part of the spring market will start in early April after Easter.
This lack of inventory will push some buyers to pay more for the limited amount of housing stock in the early part of the spring market. We have already seen several homes sell with multiple offers, well above the asking price.
We will see several newly constructed homes surpass the $2 million threshold this year. If you are considering selling your home and want expert advice, call me for a confidential consultation. Tight supply in Leaside & Bennington Heights home sales keep values climbing
Sales Volume Changes*
- All Homes– down 30.3%, to 159
- Detached – down 36.6%, to 116
- Semis – down 2.6%, to 37
Dollar Value Changes*
- All Homes – up 6.1%, to $1,413,715
- Detached – up 8.8%, to $1,569,531
- Semis – up 16.6%, to $964,493
*12 month year-over-year changes ending January 31st 2016
January Monthly Changes
During the month of January 2016, 9 detached homes changed hands in Leaside & Bennington Heights.
Low Leaside inventory has resulted in Sellers reaping the benefits of multiple offers!
Lot values in North Leaside seem to have risen above the $1.3 million mark for homes with 30’ frontages. A south Leaside bungalow with a 30’ frontage recently sold for over $1.3 million – suggesting that builders are still finding value in the neighbourhood. Thus far in 2016, the first 13 homes sold went 9% higher on average than the asking price, and in just 9 days. The highest valued sale on TREB MLS so far in 2016 was $1.761 million for a home on Leacrest Road in South Leaside. There are currently 14 listings available in Leaside, including a 41’ storefront on Bayview for $2.5m.
I have two exclusively listed homes for sale which are ideal for a builder or renovator. Call me for the details. When you are ready to make your next move, I am here for you and your family.
-Source: TREB MLS February 9th 2016
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, Broker at Johnston & Daniel, a division of Royal LePage R.E.S. Ltd (Phone: 416-712-0767, Email: Jethro[at]SeymourRealEstate [dot com], or visit Jethro’s website at www.SeymourRealEstate.com.) 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 the Davisville Village and Leaside neighbourhoods.
Jethro Seymour, one of the best Toronto Midterm Toronto Agents at Royal LePage RES Ltd., Johnston & Daniel Division. #SeymourRealEstate