May 2022 Report Alderwood house prices

MAY 2022 rePORT On ALDERWOOD HOUSE PRICES AlderwoodHousePrices.ca

REPORT ON ALDERWOOD HOUSE PRICES MAY 2022 MAY 2022 *Due to high-price development listing Average Asking Price: $1,865,687* Homes For Sale Now: 23 (see page 5) APRIL 2022 (latest complete month) Homes Sold: 14 Average Sold Price: $1,398,868 NOVEMBER thru APRIL Homes Sold: 55 Average Sold Price: $1,614,474 Inside The Monthly Report gives you an in-depth look into the housing market in Alderwood and is an easy + APRIL 2022 Sold Prices way to see what your house may be worth now. + MAY 2022 Current Listings + Past Six-Month Trends Alderwood House Prices Report + Analysis & Commentary Courtesy of Mark Gaudet Realtor Right At Home Realty Inc., Broker 416-551-6847 [email protected]

23 Homes Currently for sale Median Asking Price: 1.55m Price Range $999 to $7.77m Development property Where Will We Land in Shifting Sands? Alderwood, May 2022~ After a sluggish start to Spring, In the longer term, higher rates will reduce those who the market has picked up – in terms of new listings and can afford to buy at current prices. Fewer buyers mean homes sold. House prices are a different story. less competition among them, more choices for them and downward pressure on house prices. The low housing supply that has been headline news for a long time is not drastically changing. But it has We see evidence of this in Alderwood, where both the increased over the past two months to normal levels. average and median sale prices dropped since their We had 31 new listings in April, up slightly compared peak in January. The average price fell from $2m to to 26 in April of last year and 25 last month. $1.39m and the median fell from $1.9m to $1.3m. Most areas of the GTA saw a marked decrease in the Keep in mind that these lower prices are still higher number of sales with some areas reporting a 40% drop. than last year, just not as high. Market conditions are In contrast, Alderwood sales in April were steady with still tight, we haven’t yet seen a flood of supply, and we 14 compared to last month’s 13, and certainly higher continue to have a seller’s market. than the four we had in February. Over the next few months, there will be more shifting Although we didn’t have the decrease in activity in and uncertainty. At this point it seems that we can April that others did, it seems inevitable that we will. expect minimal to moderate growth and a trend Th~ere’s no escaping the fact that all areas will feel the towards a more balanced market. effects of the Bank of Canada’s interest rate increases. I have a large townhouse in a family-friendly In the short term, for buyers who have “locked in” a Bramalea neighbourhood coming up soon. lower rate for their mortgage pre-approval, sales in If you know someone who might need a starter desirable areas should continue. home, please let me know. ~ Mark Gaudet, Realtor, BA, AEA

APR Latest MAR Seasonally APR Year- 2022 complete 2022 adjusted 2021 to-Date month New Added Listings: 31 New Added Listings: 25 New Added Listings: 26 Homes Sold: 14 Homes Sold: 13 Homes Sold: 11 Avg Sold Price: Avg Sold Price: Avg Sold Price: $1,398,868 $1,505,308 $1,254,406 Median Sold Price: Median Sold Price: Median Sold Price: $1,360,000 $1,428,000 $1,160,000 Avg Days on Market: 8 Avg Days on Market: 20 Avg Days on Market: 8 Terminated or Expired: 0 Terminated or Expired: 1 Terminated or Expired: 14 Alderwood 12 Month Avg Sale Price 2500000 2000000 1500000 1000000 500000 0 May June July Aug Sept Oct Nov Dec Jan Feb Mar Apr Avg Sold Price

Past 6 Months (55 Homes Sold) Past 6 Months Statistics with House Type & Style $1,620,000 $1,614,474 HOUSE TYPE $1,600,000 $1,486,072 $1,484,691 Row/Twnhouse - 1 Detached - 41 $1,580,000 $1,560,000 Semi-Detached - 9 $1,540,000 Duplex/Multi - 4 $1,520,000 $1,500,000 HOUSE STYLE $1,480,000 $1,460,000 1 1/2 Storey - 8 $1,440,000 2-Storey - 24 $1,420,000 2 1/2 Storey - 1 $1,400,000 3-Storey - 3 Bungaloft - 0 List Price Bungalow - 17 Original Price Sold Price Raised Bungalow - 1 Backsplit - 0 Other - 1 Here we compare two COMPARING 6-MONTH RANGE sets of 6-month sales OF AVERAGE SOLD PRICES averages from one year to the next to give us a Prev Yr Six Months (85 Sold) Current Six Months (50 Sold) better idea of market trends. 1,112,616 1,327,083 1,134,356 1,302,522 1,169,756 1,313,215 1,185,423 1,323,650 1,183,020 1,287,192 1,211,315 1,306,782 1,209,298 1,324,979 1,213,485 1,405,384 1,206,508 1,464,614 1,223,292 1,515,360 1,299,993 1,613,340 1,296,103 1,614,474 DEC/MAY JAN/JUN FEB/JULY MAR/AUG APR/SEP MAY/OCT JUN/NOV JUL/DEC AUG/JAN SEP/FEB OCT/MAR NOV/APR

*Updated May 2, 2022 Possible development land sale

*As of April 30, 2022 2,000,000 1,782,946 1,797,186 1,500,000 14 Percent 1,800,000 1,262,100 1,398,868 1,360,000 12 Sold 1,600,000 10 Over 1,400,000 Average List Average Sold Average Median Asking 1,200,000 Price Price Price 8 1,000,000 6 11.5 1,262,100 1,398,868 1,360,000 4 800,000 1,782,946 1,797,186 1,500,000 2 10.6 600,000 0 400,000 200,000 Days on Market 0 Alderwood 8 Alderwood Toronto 11 Toronto Alderwood Toronto Alderwood Toronto

Whenever you’re ready, here are 4 ways I can help… 1. GET PIN-POINT PRICING SCAN ME Take the guess work out of it! If you want to know how much more your house is worth, try our Pin-Point Pricing. Please call 1-(855)-781-8881 Ext 32 for a recorded message or visit markithome.com/page/get-pin-point-pricing or scan… 2. TRY A ROOM-BY-ROOM REVIEW SCAN ME I’ll give you the scoop on what fixes get you the biggest return for the lowest cost. And who can fix it for you! Please call 1-(855)-781-8881 Ext 36 for a recorded message or visit markithome.com/page/try-a-room-by-room-review or scan… 3. DISCOVER WHERE YOU COULD MOVE SCAN ME Ever heard the phrase, you don’t know what you don’t know? What if you knew about some great, affordable homes? Please call 1-(855)-781-8881 Ext 42 for a recorded message, visit markithome.com/page/discover-where-you-could-move or scan… 4. GET ON THE SILENT MARKET LIST SCAN ME Can you sell without listing? If you’re curious about how your home can benefit from being on my Silent Market list, Please call 1-(855)-781-8881 Ext 46 for a Recorded Message or visit markithome.com/page/enjoy-the-benefits-of-the-silent-market Wondering where to start? Easy. It starts with a quick call. Please feel comfortable calling me at 416-551-6847 or email [email protected] MARKitHOME.com Mark Gaudet Realtor EFFORTLESS MOVES Right At Home Realty Inc Broker 416-551-6847 [email protected]