July 2020 Report on Alderwood house prices

july 2020 rePORT On ALDERWOOD HOUSE PRICES AlderwoodHousePrices.ca

REPORT ON JULY 2020 ALDERWOOD HOUSE PRICES July 2020 Average Asking Price: $1,365,500 Homes For Sale Now: 25 (see page 5) June 2020 (latest complete month) Homes Sold: 16 Average Sold Price: $1,095,868 Past Six Months Homes Sold: 57 Average Sold Price: $1,134,356 INSIDE The Monthly Report gives you an in-depth look + Last Month’s Sold Prices into the housing market in Alderwood and is an + Current Listings JULY 2020 easy way to see what your house may be worth. + Past Six-Month Trends Do you have any questions or suggestions? + Home Price Index™ and More Please feel comfortable getting in touch. Alderwood House Prices Report Courtesy of Mark Gaudet Sales Representative Right At Home Realty Inc Brokerage 416-551-6847 [email protected]

22 Homes Currently for sale Median Asking Price: 1.40m Price Range $750k to $2.2m Alderwood Tops the List for Best Places to Buy Alderwood, July 2020 ~ Following the gradual recovery out the full closure period, it remained a sellers’ market. of “life as we once knew it”, the real estate market in With Alderwood this week claiming top spot in Alderwood – similar to the rest of the GTA – MoneySense’s annual Where to Buy Real Estate in 2020, experienced strong growth through June in the that means even more focus on our neighbourhood. number of transactions and sale prices. That trend appears to be carrying through July as well. These early stages of recovery appear to indicate that the next several months will continue to see strong The pent-up demand for housing, which was pushing demand. However, it would be foolish to consider the prices higher in Jan and Feb, was of course curtailed in fallout from the economic closure a foregone the spring by COVID19. That demand has come surging conclusion. We are not out of the woods yet. back, and home sellers who had also been waiting for signs of stability, have been happy to oblige. Some wonder if these brighter days will darken with the eventual end to government cash & mortgage deferrals. It’s important to remember that home buyers – That’s a definite possibility. But it will take a surge of although keen – are by far the sharpest of consumers: new listings to induce a large-scale price correction. And they are aware that there are no “deals” in the market. anyone who bought more than a year ago, already has However, they rarely “overpay” for a home. considerable price appreciation to take as comfort. Interestingly, while the average sale price increased in If you have any real estate questions June, the benchmark price for homes fell slightly. or want to check on your options, However, compared to a year ago, benchmark prices feel comfortable getting in touch. were higher in all categories by about 7%. ~Mark Gaudet Sellers are in a strong position now, although through- 416-551-5861

JUN Latest MAY Seasonally JUN Year- 2020 complete 2020 adjusted 2019 to-Date month New Listings: 24 New Listings: 25 New Listings: 12 Homes Sold: 16 Homes Sold: 9 Homes Sold: 8 Avg Sold Price: Avg Sold Price: Avg Sold Price: $1,187,087 $1,095,868 $1,016,054 Median Price: Median Price: Median Price: $1,015,000 $975,000 $939,500 Avg Days on Market: 21 Avg Days on Market: 22 Avg Days on Market: 8 Terminated or Expired: 2 Terminated or Expired: 8 Terminated or Expired: 5 Alderwood 12 Month Avg Sale Price 1600000 1400000 1200000 1000000 800000 600000 400000 200000 0 July Aug Sept Oct Nov Dec Jan Feb Mar Apr May June Avg Sold Price

Past 6 Months (57 Homes Sold) Past 6 Months Statistics with House Type & Style 1,200,000 1,104,786 1,110,489 1,134,356 HOUSE TYPE 1,000,000 999,900 998,000 1,025,000 899,000 899,000 Row/Twnhouse - 1 880,000 Detached - 45 800,000 Semi-Detached - 10 Duplex/Multi - 1 600,000 HOUSE STYLE 400,000 200,000 1 1/2 Storey - 8 2-Storey - 22 0 2 1/2 Storey - 0 List Price Original Price Sold Price 3-Storey - 3 Bungaloft - 0 Bungalow - 19 Raised Bungalow - 2 Backsplit- 2 Other - 1 average median mode Here we compare two set of COMPARING 6-MONTH RANGE 6-month sales averages OF AVERAGE SOLD PRICES from one year to the next. Since we have low Prev Yr Six Months Current Six Months inventory, this 6-month view gives you a better idea of market trends. 959,971 954,954 961,285 962,273 947,586 988,271 971,097 973,183 981,980 1,009,514 869,953 1,003,030 981,345 1,008,000 976,284 1,034,717 998,000 1,023,269 931,026 1,066,275 973,611 1,112,616 979,186 1,134,356 FEB/JULY MAR/AUG APR/SEP MAY/OCT JUN/NOV JUL/DEC AUG/JAN SEP/FEB OCT/MAR NOV/APR DEC/MAY JAN/JUN

*Updated July 9, 2020 Tear-down Sold conditional Sold conditional DO YOU NEED FACEMASKS? We’re giving FREE facemasks to local residents. We’ve made and delivered more than 1000 so far. To get yours, just email [email protected] or text 416-738-2020

GTA 2nd highest price ever in Alderwood

ALDERWOOD HPI HOUSE PRICES Based on MLS-Home Price Index (MLS®HPI)* 1,200,000 1,000,000 7.0% 800,000 Bungalow One Year Price Change 600,000 6.29% 400,000 2-Storey Detached 200,000 One Year Price Change Current 0 7.22% estimated price for these house Composite One Year Price Change types. Composite (All 2 Storey Bungalow Types) Detached Benchmark 1 Month Ago 3 Months Ago 6 Months Ago 1 yr Ago 3 yrs Ago *The MLS HPI® Price Index is a new method of measuring real estate prices within a specific neighbourhood. Our system uses a statistical model that considers both the quantitative and qualitative features of homes to set a Benchmark” price. Whenever you’re ready, here ROOM-BY-ROOM REVIEW are two ways we can help you… People often ask about the best way to get the highest price for their property. It’s a great question, because PIN-POINT PRICING there really is a way to increase the value of your house – and it doesn’t need to cost a lot, or anything at all! You already know that there’s more to pricing homes than statistics, graphs and charts. It comes down to thinking about your house in the eyes of a buyer. You live in your home now, but when it comes It also takes the experience of working every time to sell, it’s a house. Think of it now as a commodity, day in the neighbourhood with buyers & sellers competing on the open market with other commodities. to understand what’s really happening behind the scenes. You don’t need a major renovation – you just want to make your house the “best in class”. Our goal is to make We combine real data with ongoing experience your house the one that buyers remember as the best of to offer home sellers a pin-point pricing report. its kind. It’s free & there’s no obligation. The way to do this is to start with a “Room-By-Room Whenever you’re ready, check out our Pin- Review”. This is our proven method of getting the best out point Pricing Report by calling our 24-Hr of the interior and exterior of the house. It doesn’t mean a Free recorded message at 1-(855)-781-8881 lot of work or a big investment. In fact, my team and I can Ext 32. take care of the whole thing for you! To get your Room-By-Room review, just call 1-855- 781-8881 Ext 18 for a 24-Hr Free Recorded Message.