One of the hottest real estate markets in Toronto so far this year has been the Roncesvalles Village neighbourhood located in Toronto's west end. The fact this market is booming really comes as no surprise to Jill Stewart and Rob Lepage who are Brokers at Royal Lepage Real Estate Services Ltd., and are the proud sponsors of the Roncesvalles Village neighbourhood on the website TorontoNeighbourhoodGuide.com. Stewart and Lepage point out that Roncesvalles Village has been growing steadily in popularity over the years. "This growth has been somewhat under the radar until this year as the neighbourhood has recently garnered alot of attention from the media due to the redevelopment along Roncesvalles Avenue."

The Roncesvalles Avenue redevelopment was a long drawn out affair but it appears to have been worth the wait as this commercial strip has never been more vibrant and is now firmly ensconsed as one of Toronto's landmark neighbourhood shopping destinations. The iconic Toronto streetcar still glides up and down Roncesvalles Avenue only now it shares the road with new bicycle lanes and revamped pedestrian walkways. The streetscape has also been enhanced with places to sit down and native tree plantings.

Homebuyers have taken notice of all the changes in Roncesvalles Village and judging by the 41 homes sales recorded thus far in in 2012, they like what they see. Stewart and Lepage point out "there are three key amenities Roncesvalles homebuyers appreciate. These are: "the homes are within walking distance of Toronto's landmark High Park, you can walk or bicycle in just a few minutes to Toronto's waterfront and Roncesvalles Avenue itself is so convenient whether you need a jug of milk, fresh produce, or something from the hardware store, everything you need is close by."

Stewart and Lepage point out that the real estate options in Roncesvalles Village are varied and provide many options. "East of Roncesvalles Avenue the houses are a little smaller which suits the first time buyer. Move up buyers can find larger detached homes on the west side of the neighbourhood. Many of these homes are multi-plex with the owner renting out apartments. Having a tenant is a great way to help offset house payments and expenses. Stewart and Lepage are also in favour of the new condos and lofts being built in the neighbourhood as "this mix of housing styles means you never have to leave the neighbourhood."

Falling in love with Roncesvalles Village is the easy part; finding and securing a home is more challenging. There is healthy competition for houses in this neighbourhood with homes selling for 107% of list price and averaging just 11 days on the market. Keep in mind most houses hold back offers for a week. Most of the houses sell on the day they take offers. The average price for a semi-detached house in Roncesvalles this year is $729,000. Entry level semi-detached houses can occasionally be found in the low $600,000s while the larger semi's can sell for upwards of $900,000. Detached sales make up about a third of the Roncesvalles Village home sales with the average price of a detached home hovering around the $895,000 mark. However; while an entry level detached home can sometimes be found in the $700,000s, most detached houses in this neighbourhood sell for much higher than that, with some larger detached houses selling in excess of 1 million dollars.

For prospective Roncesvalles Village homebuyers Stewart and Lepage want you to know that "this is a very caring and supportive neighbourhood that has rallied around the restoration of the local Revue Theatre and ongoing efforts to save the High Park Zoo. We are very proud of our local farmers market, tree preservation efforts and the great work done by the Friends of High Park". In closing for Roncesvalles Village homesellers Stewart and Lepage offer this advice: "The advice Rob and I would give sellers in Roncesvalles is, in order to get the greatest return on their investment, surrender to a professional stager, attend-to  or disclose any mechanical or structural issues determined by a reputable home inspector and choose an active agent in the neighbourhood who knows intimately how to target the right buying audience."

 

* Roncesvalles Village neighbourhood insights provided by Jill Stewart, Broker and Rob Lepage, Broker, of Royal Lepage Real Estate Services Ltd. Jill and Robert can be reached by calling 416. 231. 3000 or by email: jillstewart@royallepage.ca or roblepage@royallepage.ca

 

(C) www.TorontoNeighbourhoodGuide.com