Parkview Hills Neighbourhood Real Estate Update 2017
June 28, 2017
Parkview Hills is a popular family oriented neighbourhood tucked away in a bucolic ravine setting in the area of Toronto known as East York. Homebuyers who stumble upon this neighbourhood are pleasantly surprised by its natural setting, quaintness and close proximity to downtown Toronto. Despite its understated vibe Parkview Hills has not been overlooked by homebuyers in fact just the opposite is true as families scramble to gain entry into this neighbourhood. "The Parkview Hills real estate market right now is shifting just as in other high-demand Toronto neighbourhoods. There is very high demand from buyers and very low inventory which is maintaining high prices", says Effie Panagiotopoulos, Sales Representative at Re/Max Ultimate Realty Inc., Brokerage.
While we read and hear a lot in the media about an influx of foreign buyers into Toronto, Panagiotopoulos says this is overblown when it comes to Parkview Hills which is attracting buyers mainly from East York as well as North York and York Region. Panagiotopoulos adds that; "homebuyers are attracted to Parkview Hills because of its generous size lots which are perfect for building custom homes." Panagiotopoulos lists the close proximity to downtown as well as commuter highways, and the mature neighbourhood landscape as other big drawing cards.
The biggest barrier to entry into this neighbourhood right now is the extreme lack of supply. Only nine homes have been listed and sold within Parkview Hills thus far in 2017. There simply is not a lot of turnover as this is a neighbourhood where people move to raise their families and therefore plan to stay for a while. There is a nice mix of older housing stock including bungalows and detached 2-storey homes that sell in the $1 million to over $2 million price range as well as newer custom homes that sell for $1.8 million and up.
So in a market such as the one we are currently experiencing how does a Buyer secure a home in this neighbourhood ? Panagiotopoulos explains: 'Once a Buyer views a property and loves the home, they should be prepared to immediately submit an offer. "Home buyers should make sure their financing is in order". Panagiotopoulos would like Parkview Hills sellers to know that now is a great time to put your home on the market. In order to obtain top dollar Panagiotopoulos highly recommends you use a local agent who will know how your property compares to other homes on the market and to recent sales so that you can obtain an accurate list price for best results. Panagiotopoulos adds" The power of the MLS to reach a much higher number of potential buyers is very relevant, it gives all buyers a fair chance to know the sellers MLS listing is on the market, available and create wide exposure and interest. This will result in a higher selling price and benefit the Seller."
For more updated real estate information in Parkview Hills contact: Effie Panagiotopoulos, Sales Representative. Re/Max Ultimate Realty Inc., Brokerage. Bus:416-487-5131, Direct: 416-347-0337 or visit her website: http://www.effiep.com/
Some of 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 author assumes no responsibility for the accuracy of any information shown.