Brian Torry

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Roncesvalles Village Market Update - First Quarter

15 April 2019
B Torry


Roncesvalles Village Market Update - First Quarter

Flat. That might be the best word to use when describing the real estate activity in Toronto this year. Comparing results from March of 2018 to March of 2019 shows the Greater Toronto Area is having a remarkably similar start in the first quarter. In fact, there was exactly 1 (one) less sale in March 2019 (7,187) as there was in March 2018 (7,188) which as a percentage means the number of homes sold declined .0001%. This is actually a bit of an uptick compared to the beginning of the year as there were 1% fewer sales in the first quarter of 2019 compared to 2018. Sale prices increased by 1% in the first quarter over last year.

When we drill down into our local Roncesvalles Village market we see a similar result though it is safe to say that the downtown neighbourhoods regularly out-perform the surrounding suburbs. There were 18 sales in the first quarter of 2019 compared to 21 sales in the same period last year and there was a fairly healthy 7% increase in the average sold price in the neighbourhood. The majority of the growth came in the semi-detached market where prices increased an average of 16% year over year. There was a noted lack of large detached homes selling in the first quarter which skews the results of the average sale price in that category of home. There have since been two detached properties sell above $2.6 million in April.

Brian is a local real estate expert who lives and works in our neighbourhood and offers tailored real estate services that meet the needs of every individual client. Brian believes that every house is different, and every home-owner is unique.