Toronto Neighbourhood Guide

Uptown

Lytton Park

Homes in Lytton Park

Lytton Park Real Estate Update 2018

With the 2018 calendar year rapidly drawing to a close it is time to reflect on the year that was in Lytton Park real estate. The market started off extremely slowly with a short supply of listings both in Lytton Park and city-wide. This slow start was largely attributable to the introduction of Ontario's Fair Housing Plan which among other things put restrictions on foreign ownership including a 15% surcharge for foreigners buying homes in Toronto. Another contributing factor to the early scarcity of listings was the new mortgage rules that included a "stress test" for buyers and a winter chill for sellers as both buyers and sellers contemplated what all these new rules and regulations would mean. The traditionally strong spring market was also impacted by all the uncertainty. Finally the floodgates would open in the late spring. To date thirty-seven Lytton Park homes have sold on the MLS in 2018.

Judging by the stats; once the market got rolling it was pretty much business as usual with Lytton Park homes selling on average for 98% of list price. Seventeen of these sales went for asking price or higher indicating multiple bids were once again making Lytton Park a sellers market. And if you snoozed you loosed as the average days on market was just 12 days from the time the sign went on the lawn until any and all conditions were met and a firm sale reported. If you want to purchase a detached house for under $1.5 million your only options are on Avenue Road or Lawrence were noise and traffic issues keep the prices down. Semi-detached homes on Craighurst and Albertus and condo units on Rosewell Avenue are other more affordable options in the neighbourhood. Expect to pay anywhere between $1.2-$1.4 million for a three bedroom semi and $800,000-$900,000 for a 2 bedroom condo.

Lytton Park is an affluent neighbourhood so it is no surprise that 17 homes sold for over $2 million, with nine houses exceeding $3 million, with Lytton Park sales this year topping out in the $5 million range. 

Lytton Park Real Estate Update 2017

It has been a busy year in the Lytton Park neighbourhood with 48 MLS sales recorded. In total $136,012,000 worth of real estate deals were consummated. The average sale price came in at $2,775,755. 

The year 2017 will be remembered as a topsy turvy one for Toronto real estate with unprecedented gains in the first two quarters. These price gains were followed by a return to normalcy in the second two quarters largely attributed to new government measures impacting foreign ownership, as well as a tightening of mortgage rules making financing much more challenging for a large segment of homebuyers. The ebb and flow of this years market saw twenty-five Lytton Park houses sell for above asking price with an overall 98% list to sale price ratio in the neighbourhood. While houses were often selling the same day they were listed back in the winter and spring it is now more common to see a home listed for a few weeks or more. But clearly demand is still high with the average home selling in just thirteen days.

Lytton Park Homebuyers can expect to find semi-detached homes, as well as townhomes and duplexes in the $1.2-$1.8 million dollar range. Detached homes start at approximately $1.8 million or $2 million if they have a private drive. There have been nineteen sales recorded this year for over $3 million. Many of these were Georgian style homes that have recently had additions or been substantially renovated. Premium 50 foot builder lots are increasingly rare and sell in excess of $2 million. New custom homes in the neighbourhood now top the $4 million mark and can climb much higher into the $5 and even $6 million dollar range. At the top of the Lytton Park market there are some prized homes situated on ravine lots. One of these recently sold for over $8 million dollars.

Lytton Park schools continue to perform well in province wide testing and their high rankings draw families to this neighbourhood. Havergal Collage on Avenue Road is a magnet for affluent families choosing this neighbourhood. In the coming years we should see a fair amount of redevelopment north of Lawrence on Avenue Road which will bring a plethora of new shops and restaurants and make this neighbourhood even more vibrant. The new Eglinton subway line once it opens will be another bonus for Lytton Park which is already highly regarded for its walkability and access to public transit. 

Lytton Park is certainly one of Toronto's most desirable neighbourhoods. If you are looking to buy a home in Lytton Park I can help you. I live in the neighbourhood. I know who may be selling and when. I know the nuances of the various streets, and having raised my family here I know the local schools and what you can expect. If you need advice on where to go cycling, which restaurant to try, who to call for a babysitter, information on local sports and recreational programs for yourself and your children, or even the best transit routes, I can be a valuable resource. If you play tennis I would be happy to welcome you to the North Toronto Tennis Club where I am on the Board of Directors. Choosing to buy a home in Lytton Park is a decision you will never regret. Contact me anytime. David Dunkelman, Broker, Royal Lepage Signature, Brokerage, 416-726-6574 (cell) or 416-443-0300 (office) or email ddunkelman@trebnet.com 

Visit my website for testimonials: www.realestatewithdavid.com

Lytton Park Neighbourhood Toronto Real Estate Update 2015

 
With three quarters of 2015 almost in the books the Lytton Park neighbourhood has recorded 33 sales. "There is never a large turnover of homes in this neighbourhood says David Dunkelman, Broker, Royal Lepage Signature. 'You are more likely to see Lytton Park residents move within the neighbourhood rather than move outside the neighbourhood".
The average price of all Lytton Park homes sold so far this year is $1,987,000. Just under half of these sales topped the $2-million mark. The combined average number of days on the market is just 11 days, and the average list to sale price ratio is 104%. Dunkelman confirms "Lytton Park houses sell very fast and often with multiple offers". Land values are increasing rapidly as new homes in the area are now selling in the $3-million to upper $4-million price range. Dunkelman adds that "there are a fair number of new homes presently under construction in this neighbourhood" and that these will likely hit the market sometime in 2016.
Dunkelman says that high-end homebuyers view Lytton Park as a safe investment due to the excellent schools in the neighbourhood as well as the close proximity to public transit and downtown. "i am forecasting a modest rise in prices for this neighbourhood in 2016" says Dunkelman. "Listings are in short supply and there is always a steady demand of families that want to move into this popular uptown neighbourhood".
David Dunkelman can be reached direct at 416-726-6574 or by email: ddunkelman@trebnet.com

Lytton Park Real Estate Update 2015

There were 54 home sales in the Lytton Park neighbourhood in 2014. The average sale price was $1,754,000. The number of buyers for Lytton Park homes outweighed the number of listings which resulted in a number of bidding wars and a 104% average list to sale price ratio. The average home lasted a mere 10 days on the market before being sold. There were fourteen sales in Lytton Park over $2 Million, three sales over $3 Million and one home sold over $4 Million. Thus far in January 2015 there have been no sales recorded which is a reflection of the scarcity of listings. Lytton Park is a destination neighbourhood for those who have arrived. They want to stay and enjoy the neighbourhood and raise their families here which results in very little turnover of homes. If you are thinking of buying a home in Lytton Park in 2015 contact David Dunkelman, Broker, Royal Lepage Signature. I have helped many families find the perfect home in this neighbourhood. Email: ddunkelman@trebnet.com or call Direct 416-726-6574

Lytton Park Real Estate Update 2014

With the spring market only just begun there have already been 21 sales recorded in Lytton Park. "Prices are up slightly from last year". says David Dunkelman, Broker, Royal Lepage Signature Realty. The average sale price right now in Lytton Park is $1,797,000. Dunkelman say "prices always peak in the spring market and then flatten out or dip a tiny bit in the summer and into the fall market. But expect year over year average prices in Lytton Park to increase on an annual basis." 

This Uptown neighbourhood is conveniently serviced by public transit and is just a 15 minute drive to the downtown Toronto core. The highly-ranked local public schools are much sought after by homebuyers. Excellent private schools are also located located nearby. There is a plethora of shopping amenities close by on Avenue Road, as well as on Yonge Street and Eglinton Avenue West. Lytton Park also boasts outstanding recreational amenities including the North Toronto Tennis Club and Lawn Bowling, and the outdoor ice skating and skateboard park at Otter Creek. A running  track, baseball diamond and playing fields at the local schools provide additional recreational options.

Lytton Park is a neighbourhood that attracts professionals at the pinnacle of their careers. Homeowners tend to stay for many years which results in a minimal turnover of homes and keeps the demand from homebuyers consistently strong. This year has been no exception. In fact demand appears as strong as ever with houses selling on average in just 14 days and for an incredible 103% list to sale price ratio. 

Lytton Park currently has a number of homes under construction as well as existing homes that are being completely renovated. One of these new builds recently sold for over $4 million dollars which is a new benchmark for the neighbourhood. Dunkelman affirms: "Some of the finest homes in Toronto are located in Lytton Park. This is centre court when it comes to Toronto real estate."

 

Lytton Park Real Estate Update 2013

Sep 13, 2013

The Lytton Park neighbourhood has recorded 26 sales thus far in 2013. The combined average sale price of all these homes is $1,740,000. A total of seven houses surpassed the 2 million dollar mark, with three of these sales surpassing the 3 million mark and one house selling for over 4 million dollars. These homes sold on average in just 22 days with an average list to sale price ratio of 100%.

Lytton Park real estate sponsor David Dunkelman, Broker at Royal Lepage Signature Realty. IND Owned & Operated Brokerage., is not surprised at all by this neighbourhoods lofty real estate performance. "This is a neighbourhood people move to when they have arrived at the pinnacle of their careers. Once they are here they generally stay for many years to raise a family and many times choose to retire in their homes. This creates very little turnover and short supply of homes while the demand to get into this neighbourhood is always very high."

Most Lytton Park homes are detached and situated on generous size lots. There are some smaller semi-detached homes in certain pockets of the neighbourhood. Lytton Park is known for its beautiful Georgian, Colonial, Victorian, Tudor and Arts and Crafts homes which are shaded by a lush tree canopy. This neighbourhood is valued for its convenience just 15 minutes to downtown Toronto with easy access to the subway, bus routes, parks and excellent shopping. David Dunkelman points out that: "The single biggest draw for homebuyers in Lytton Park are the public schools. JRR, Glenview and Lawrence Park Collegiate which are all highly sought after schools. There are also many private schools close by including Havergal, Blyth Academy and Bialik School, and excellent catholic schools including Blessed Scarement and Marshall Mcluhan.

As we head into the fall market there is very little inventory of houses for sale. It is partly for this reason that Dunkelman expects Lytton Park to see modest price increases from last year and into 2014. Dunkelman adds: "If you are waiting for a price correction in this neighbourhood you may be waiting a long time. Lytton Park offers tremendous value for families looking for an exexcutive home in a quiet and safe neighbourhood close to downtown Toronto. To put it in perspective; 2 bedroom condos in New York City, London England and Hong Kong sell for much more than an executive home in Lytton Park, so anybody who says our prices are high for a world class city are simply misinformed." History has shown that buying a home in Lytton Park is a wise choice.

Lytton Park neighbourhood real estate insights provided by David Dunkelman, Broker, Royal Lepage Realty Ltd., IND Owned and Operated Brokerage. You can contact David at Office: (416) 443-0300, Cell: (416) 726-6574, email: ddunkelman@trebnet.com or visit the website www.realestatewithdavid.com

(C) www.TorontoNeighbourhoodGuide.com

** The information provided herein is compiled from source data obtained from the Toronto Real Estate Board. It is presented here for information purpose only. All data are subject to updates and revisions. The author assumes no responsibility for the accuracy of any information shown.

Lytton Park Real Estate Update 2012


There have been 48 homes sold in the Lytton Park neighbourhood so far in 2012. The average price of these sales is $1,362,000. The average days on market is 14 days and the average list to sales price ratio is 104%. David Dunkelman, Broker at Royal Lepage Signature Realty. IND Owned and Operated Brokerage.,says: "clearly these stats show that Lytton Park is a neighbourhood in great demand". Dunkelman adds: "Expect sales to remain strong in Lytton Park for the balance of 2012 and into 2013. There is a pent up demand for houses in this neighbourhood but very few sellers."
The Lytton Park condominium market consists of a handful of boutique buildings. Thus far in 2012, there have been a total of 28 condominium units sold in Lytton Park.These units are snapped up quickly averaging just 19 days on the market. The average list to sale price ratio of 98% reflects the strong demand for these units. Dunkelman points out: "1 bedroom units are selling for between $290,000-$365,000, 2 bedroom units are selling between $400,000-$550,000, and 3 bedroom units for between $575,000-$680,000."
Dunkelman offers this sage advice for potential homebuyers in this neighbourhood. "You are always far better served to use a local agent who knows the nuances and has the inside scoop on the real estate in their neighbourhood. It just makes sense to select a buyers agent that matches up with the Toronto neighbourhood of your choice. "My wife and I love living in Lytton Park. It is a fantastic family oriented neighbourhood that has it everything including:highly-ranked schools, excellent shopping and recreational amenities and easy access to transit. I would be happy to assist any families who would like to buy into this neighbourhood." 

For more information on Lytton Park neighbourhood real estate you can contact David Dunkelman at: ddunkelman@trebnet.com or by cell phone at 416-726-6574 or office 416-443-0300

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