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From $520K to $1.4M in 10 years

Leaside Home Value IncreasesIt’s been mostly a long and happy ride for prices of homes in Leaside and Bennington Heights the last 10 years, with the average $520,496 in 2004 zooming up to $1,395,218 this year to date.

That comes with an overall 10-year average growth of 8.01 percent.

The last three years have seen a slowing down of increases, with the 2013, 2014 and 2015 (to date) averages at 2.52, 6.92 and 3.72 respectively.

There was only one bad year during the decade, with 2009 showing a decrease of 18.99 percent, but it came after a year with a 24.57 increase, and 2010 bounced back with 14.23 percent.

The number of home sales has been generally decreasing. The last 12 months have shown a substantial drop from 229 to 171 (or -25.3 percent) homes, with prices up only slightly, by 1.6 percent. That would suggest that demand isn’t driving crazy prices.

As of the middle of October there were 14 properties available, less than half at the same time last year.

See the most recent street sales at leasidelifenews.com.

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Jethro Seymour is a broker at Johnston & Daniel. All figures are from the Toronto Real Estate Board’s Multiple Listing Service.