Homes in Lawrence Park
Lawrence Park's whimsical houses include a variety of architectural styles including English Cottage, Tudor Revival and Georgian and Colonial style designs.
Lawrence Park houses were built between 1910 and the late 1940's.
Lawrence Park is a good place to find a house that blends the old with the new. Renovations in this neighbourhood have been sensitive to preserve the old world charm of these houses including leaded glass windows, wood trims around the door and window frames, decorative fireplace mantels and rich hardwood floors.
Lawrence Park Real Estate Update 2014
The first advertisement for Lawrence Park in 1907, trumpeted it as an 'aristocratic neighbourhood', 'four hundred feet above Lake Ontario', and 'Far from the Lake Winds in Winter'. Lawrence Park has certainly lived up to its reputation as one of Toronto's most exclusive neighbourhoods with a 2014 average sale price of $2,843,000. "The last 5 sales in Lawrence Park in May, including 3 on Glengowan and 1 on Sunnydene have been sold with mulitple offers. A good example of our lack of product." says Kelly Fulton, Sales Representative, Royal Lepage Johnston and Daniel Division, Brokerage.
Fulton adds: "We are very light on inventory in all price ranges, whether it be building lots renovated homes, or new builds-which puts us in more of a sellers market." Fulton says Buyers are sensing that there is "good value" in this neighbourhood, relatively speaking for a high-end market, and as a result "we are now in a situation where we have many buyers and almost no inventory." The 2014 real estate stats for Lawrence Park would seem to back this up with houses averaging just 29 days on the market and a list to sale price ratio of 98%.
Lawrence Park homes start at $2 million and can exceed $4 million. Fulton explains: "There is a fairly wide variation of home sizes in this neighbourhood which accounts for the wide range in dollar value. The typical Lawrence Park lot is 50' frontage (with some 60'- 80'lots). I am finding that the renovated homes are very popular as they are less expensive than the new builds which typically top $4 million." Lawrence Park homes are known for their traditional: Georgian, Colonial, Tudor and Craftsman style architecture. Fulton has recently noticed a new housing trend in the neighbourhood: "We are beginning to see the more modern or contemporary home emerge - more open spaces - the formal living room becoming less desireable for the yonger buyer coming into the park."
Fulton says that today's Lawrence Park buyers are coming from all areas, including moving up from smaller homes in Sherwood Park and Leaside, as well as moving within the area, as well as new buyers from out of town. It is a real mix". Lawrence Park is known as a strong family oriented neighbourhood with great schools, both public and private nearby, as well as a strong ratepayers association and athletic association, run by area parents and offering a variety of sports for children of all ages. Fulton adds: Lawrence Park is close to subway and highway access with a variety of easy and fast routes in and out of the city. There is also easy access to Yonge Street shops and restaurants."
So how do you go about buying a home in Lawrence Park ? Fulton offers the following advice. "You need to consider carefully previous sales and if the sales ocurred in muliple offers. Were these sale prices reasonable and representing value, or were they maybe the result of buyers that "have to" have a home so the price may be a bit inflated in some sales due to buyer circumstances." Fulton concludes "I have lived in Lawrence Park for 18 years-and have enjoyed the location and neighborhood with all its great features, and also feel my money is well invested in a solid Toronto neighborhood that will always remain desireable."
Lawrence Park Real Estate Update brought to you by Kelly Fulton, Sales Representative, Royal Lepage Johnston and Daniel Division, Brokerage. Kelly can be contacted at: C 416-520-9655, (Office) 416-489-2121, email: email@example.com website: www.kellyfulton.ca
** 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.