April and May are considered our busiest months so expect very large prices in Leaside and Bennington Heights this spring.
For example, some sales that have already happened:
Several homes sold that would be considered building lots. A Bennington Heights home went for lot value of $1,775,000. It has a 50- x 95-foot lot. South Leaside saw several homes with 30-foot frontages sell above $1.5 million. A bungalow on Leacrest sold for almost $1.4 million.
Semi-detached homes don’t offer rebuilding, but they are leading the pack with a 19.6 percent annual increase over last year. So far the first quarter values are up 17.3 percent over 2015’s first quarter.
Even so, a two-bedroom semi sold for $965,000 in North Leaside.
If you have a semi-detached home in Leaside, now might be a good time to consider selling.
The number of detached home sales has been rising slowly in the last three months, along with prices. The year-to-year value increase was only 2.2 percent, but most homes are getting multiple offers.
On the high end one home sold for 19 percent above asking price.
Expect the same this spring.
Jethro Seymour is a broker at Johnston & Daniel. All figures are from the Toronto Real Estate Board’s Multiple Listing Service.