Brian Torry

  416-569-3702 

Market Update - Roncesvalles Village

01 February 2019
B Torry

2018 was a year in real estate that would fall under the category of “May we live in interesting times”. The market continued to show a declined pace in new listings and sold properties.  It was a year marked by one of the lowest price increases (yes prices did go up!) over the past few decades. In fact, the closest parallel to this past year was ten years ago in 2008 during the financial crises. To look at the Toronto Real Estate Boards 2018 recap click here, http://trebhome.com/files/market-stats/market-watch/mw1812.pdf.

The Roncesvalles Village market area saw a decline in the number of sales in 2018 over 2017. Most of this decline was in the detached home category. The average price in all home categories was up in 2018 over 2017. The greatest increase was in detached properties where prices increased an average of 18%.


                             


When you begin to take a closer look at the Roncesvalles numbers the decline in sales numbers is only in the detached category and is really focused on the smaller two-story detached homes (see chart 1). Interestingly where we see fewer two story detached sales the increase in value of the average two story only increased  7% while 2 ½ and 3 story homes increased in value by 20% despite having consistent sales numbers from 2017 to 2018 (see chart 1 and 2).

                                                   Chart 1                                                                                                                                   Chart 2

                             


There continues to be more buyers than there are sellers in Toronto both in 2018 and continuing into this year. This trend is seen in the reduced number of days a property is staying on the market before it sells. Most categories of homes sold more quickly in 2018 than they did in 2017.


If you are interested in seeing sale prices for individual properties, you can create an account at the top of this webpage. The rules created by the Toronto Real Estate Board require a password protected sign-in for the public to view sold prices.  We are happy to provide the service but must follow the rules. If you are thinking of selling your home this year please contact Brian to arrange a time to meet and view your home.