Davisville Village home values increase 5.1%
In November of 2013, 7 homes changed hands in Davisville Village, which is a significant 46% decrease from last November’s 13 that were sold in the neighbourhood. In addition, the average dollar value of these transactions rose by 39.4%. There was a 29.3% increase in the value of detached homes, which was disproportionally skewed due to 4 of the 5 homes transacting above $1.4 million dollars. Last year, the average monthly value for all homes sold in Davisville Village was $882,208, compared to $1,229,857 this year. 2 Semi-detached homes sold in November of 2013, compared to 6 in November of 2012 representing a 67% decline in sales volumes for the month.
Davisville Village year-to-date home sales are down, from 181 in 2012 to 139 in 2013 — a decrease of 23.2%. Detached home sales are down 24.8% for the year. The volume of semi-detached home sales, were also down 25.4% year-to-date in 2013.
Year-to-date, Davisville Village homes have posted a modest 5.1% increase in value compared to this time last year. The value of the average home rose to $980,233 in 2013, up from $932,510 in 2012. Among the 79 detached homes that have sold so far this year, the average sale prices are up 8.2%, coming in at $1,137,015. Semi-detached home values were down -1.8% in 2013, to $756,023 compared to $732,373 in 2012.
As of November 5th 2013, there were only 8 homes in Davisville Village for sale. 4 Detached, 2 of which are new construction and listed over $1.875 million. The 4 semi-detached homes are listed for sale between $819,000 and $979,000. 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.
Click here to see the TREB Market Watch Report
Have a great holiday season,
Toronto Real Estate Broker specializing in Davisville Village and Leaside
Click here to watch TREB’s October Market update