News that will affect home values in the coming months and years.
A new, September 2017, by-law has been implemented in Davisville Village (surprisingly, it is only specific to our community) that will prohibit built-in garages from almost all new construction homes. The goal of the by-law was to maintain the integrity of the existing homes in the area. Unfortunately, this will cause builders (love them or hate them, they increase the value of our overall housing stock) to look elsewhere for their opportunities and result in fewer dollars being spent on new homes in our neighbourhood. The residents of Davisville Village will suffer in the longterm as neighbouring communities gentrify and our 1930s housing stock continues to age.
The by-law is a product of a group of residents from the South Eglinton Ratepayers & Residents Association (SERRA) and 2 community meetings; one had 90 people attend and the other had only 15. There are 3,500 houses in Davisville Village.
For more information about the new By-Law, please reach out to Josh Matlow's office at 416-392-7906 or click the link below.
Here is a link to the new By-Law Final Report.
Here are the Davisville Village February 2018 home sales statistics.
Davisville Village detached sales
up by 28.2% over last year, semis are down 21.9%!
Sales Volume Changes*
All homes – up 2.5% to 166
Detached – up 28.2% to 100
Semi-detached – down 21.9% to 57
Dollar Value Changes*
All homes - up 9.3% to $1,604,088
Detached - up 7.6% to $1,781,852
Semi-detached – up 7.1% to $1,325,973
*MLS 12-month year-over-year changes ending February 28, 2018; Provided by Jethro Seymour
Home sales volumes are trending downward in Davisville Village
Five detached and three semi-detached homes changed hands in Davisville Village in February, a 42.9% drop compared to 14 home sales in the same month last year. The average value of those eight homes decreased 21.1% from last year’s $1,974,731 to $1,558,750. The detached homes were valued at an average price of $1,714,000, a 10.4% drop from last year’s $1,914,000. Value for semis also dropped 29.2% from last year’s $1,836,847 to $1,300,000.
Twelve homes were sold over the first two months of 2018, a 42.9% drop compared to the year-to-date February 2017 sales of 21. Seven detached homes changed hands so far with an average value of $1,681,286 or an 8.9% decrease compared to $1,845,778 for nine detached homes sold within the first two months of 2017. Semi sales also decreased 66.7% from nine to three, values also fell 25.2% from $1,737,582 last year to $1,300,000.
Consider me, Jethro Seymour, your Davisville Village 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.
February Sales in Davisville Village
|Detached||No. of Sold||Avg. Price||% of List Price||Days on Market|
|Semi-Detached||No. of Sold||Avg. Price||% of List Price||Days on Market|
Source: TREB MLS Sales Data as of March 5, 2018
Jethro Seymour, one of the Top Davisville Village Real Estate Brokers at Royal LePage RES Ltd., Johnston & Daniel Division .
Jethro 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.