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South Leaside lot sells for $1,626,000

Leaside Sales by Street 2014 vs 2015

Leaside Sales by Street 2014 vs. 2015 (Click to Enlarge)

Leaside bungalows continue to set records.

A North Leaside bungalow on a 36-foot frontage sold for $1,418,000 in April, well over asking price. Another North Leaside bungalow sold for almost $100,000 more in April than a similar bungalow sold for in March.

A South Leaside storey-and-a half on a 39.9-foot frontage sold for $1,626,000, as land. There was no house inspection.

So far this year homes have been selling at an average of 6.2 percent over asking price. The highest in a multiple offer situation was 31 percent and the lowest was 19 percent below the asking price. With the historically low interest rates we are sure to see more multiple offer situations and strong demand for our rare for sale Leaside properties.

In April this year, 23 homes changed hands in Leaside, which was 17.9 percent fewer than the 28 homes that sold in April 2014. There was a significant lack of inventory this past winter and leading into spring.

Detached home sale volumes are down by 44 percent during the first four months of 2015. Only 35 detached homes have traded hands compared to 63 during the same time last year.

Semi-detached home sale volumes are also down by 8.3 percent in 2015.

Here is a 12-month look at the rolling averages of Leaside and Bennington Heights home sales, comparing the sales of the past 12 months with the previous 12 months.

SALES VOLUMES CHANGES

All Homes Sales

  • down 2.8%, to 208 sales

Detached Home Sales

  • up 2.5%, to 162 sales

Semi-Detached Home Sales

  • down 28.8%, to 37 sales

DOLLAR VALUE CHANGES

All Home Values

  • up 7.7%, to $1,334,742

Detached Home Values

  • up 3.5%, to $1,454,689

Semi-Detached Home Values

  • up 10.1%, to $841,727

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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.