Homes in Roncesvalles Village
Roncesvalles Village is brimming with beautiful turn-of-the-century homes that are accented with whimsical architectural details. Pretty front porches and well tended gardens compliment the pretty houses. A lush and mature tree canopy make for a very pleasing streetscape. Most of the houses are attached or semi-deatched with a sprinkling of detached houses. Garages are tucked away out of sight at the rear of the house off laneways.
Roncesvalles Village Real Estate Update
Roncesvalles Village homes are highly sought after by Toronto homebuyers. The well kept Victorian and Edwardian century houses that line the streets of this neighbourhood are enjoying a revitalization with a new generation of homebuyers who appreciate the charm and character of these older homes. In 2013, a total of 65 houses have sold in this quaint west-end neighbourhood.
Chander Chaddah, Broker, Sutton Group - Associates Realty Inc., Brokerage has been selling homes in the Roncesvalles neighbourhood for many years and even has a website devoted to Roncesvalles real estate called www.roncesvallesvillage.com. Chaddah says: "it is definitely a sellers market right now in Roncesvalles with many properties selling above list price."
The popularity of this neighbourhood is reflected in the following stats. Roncesvalles homes sell on average in just 10 days, and even more remarkable they sell on average for an astounding 105% of the list price. Chaddah points out that condo sales are also strong in the neighbourhood. There have been 21 condo sales and they have achieved on average 100% of their asking price.
Homebuyers need not depair as Roncesvalles is still affordable by international big city standards. Chaddah reports the average selling price for a detached home is currently $845,000 and the average price of a condo is $477,000. If you are wondering who is buying all these homes; Chaddah provides the following insight: "the demographic is most certainly middle class, more than likely university educated, with two income families. A generational shift occured in the mid 90s when many of the Polish and Eastern Europeans who settled here post WW2 began to move to retirement homes."
Now with a new generation of homebuyers putting down roots in the neighbourhood and raising families there are fewer houses that come on the market. This short supply has fuelled numerous bidding wars from a pent up pool of buyers. Chaddah advises prospective Roncesvalles buyers to be careful when entering this market. "The only winners in a bidding war are the sellers and the listing agent. Just about everybody else is a loser in this scenario, most of all the buyer who may have acted irrationally. Try to understand values in the neighbourhood first and take a measured approach. Overpaying by 100K might only cost a buyer a couple of good dinners out a month however; if they have to liquidate for unforeseen circumstances such as job transfer or divorce, that extra 100K could really come back to hurt them."
Roncesvalles Village neighbourhood real estate update brought to you by Chander Chaddah, Broker, Sutton Group - Associates Realty Inc, Brokerage. Bus:416-966-0300, Direct: 416-410--(CHAD) 2423, Email: email@example.com or visit Chander Chaddah's website: http://www.roncesvallesvillage.com/
The information shown here is complied 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 publisher assumes no responsibility for the accuracy of any information shown.