June 2020 Report on Alderwood House Prices

June 2020 rePORT On ALDERWOOD HOUSE PRICES AlderwoodHousePrices.ca

JUNE 2020 REPORT ON ALDERWOOD HOUSE PRICES June 2020 Average Asking Price: $1,376,393 Homes For Sale: 30 May 2020 (Latest complete month) Homes Sold: 9 Average Sold Price: $1,095,868 Past Six Months Homes Sold: 43 Average Sold Price: $1,125,811 INSIDE: The Monthly Report gives you an in-depth look into the housing market in Alderwood + Last Month’s Sold Prices and is an easy way to see what your house may be worth. Do you have any + Current Listings JUNE 2020 questions or suggestions? Please feel + Past Six-Month Trends, comfortable getting in touch. Home Price Index, and More Alderwood House Prices Report Courtesy of Mark Gaudet Sales Representative Right At Home Realty Inc Brokerage 416-551-6847 [email protected]

ALDERWOOD HOUSE PRICES REPORT 30 Homes Currently for sale Median Asking Price: 1.37m Price Range $679k to $2.2m Alderwood Swells with Listings Alderwood, June 2020 ~ Throughout the pandemic, where they’ve been waiting during Covid. These sellers real estate here has inched along at a much slower are also people in a position where they need to sell or pace. Although sale prices were largely unaffected, see the pandemic as the impetus to move out of the city. we’ve had far fewer listings and sales. Prices, however, remain stable. In fact, the average sale As we gradually get back to a degree of normalcy, price in May rose 18% from the same period last year many wonder about the short- and long-term fallout and 11% from this April. Average prices are only part of from Covid. There are indications from the numbers in the story, but the Home Price index also shows a May and even early June that the Alderwood market is composite value increase of 8.79% year over year. changing again. Could a surge of listings precipitate a price correction? Where we saw a dramatic decrease in listings and sales My feeling is that we were so deeply in a seller’s market in March and April, May was stable with 27 new listings prior to the pandemic, it will take a sustained increase compared to May 2019 with 25. The number of sales in supply to have any downward pressure on prices. was also similar – 9 homes sold this May, which is just four fewer than last May. More importantly, already in Publication note: We’ve made some design changes and the early days of June, we’ve seen a surge of new also expanded our coverage to all of Alderwood. I hope listings - 30 so far, compared to 12 for all of June 2019. you’ll like the changes. If you have any real estate questions or just want to check on your options, feel This substantial increase in listings indicates that comfortable getting in touch. Alderwood sellers are returning from the sidelines DO YOU NEED A FACEMASK? ~ Mark Gaudet We’re giving FREE facemasks to local residents. 416-551-6847 We’ve made and delivered more than 700 so far. To get yours, just email [email protected] or text 416-738-2020

ALDERWOOD HOUSE PRICES REPORT MAY Latest APR Seasonally MAY Year- 2020 complete 2020 adjusted 2019 to-Date month New Listings: 25 New Listings: 14 New Listings: 27 Homes Sold: 9 Homes Sold: 7 Homes Sold: 13 Avg Sold Price: Avg Sold Price: Avg Sold Price: $1,095,868 $983,891 $926,155 Median Price: Median Price: Median Price: $975,000 $924,000 $894,500 Avg Days on Market: 22 Avg Days on Market: 8 Avg Days on Market: 19 Terminated or Expired: 8 Terminated or Expired: 4 Terminated or Expired: 7 Alderwood 12 Month Avg Sale Price 1600000 1400000 1200000 1000000 800000 600000 400000 200000 0 June July Aug Sept Oct Nov Dec Jan Feb Mar Apr May Avg Sold Price

ALDERWOOD HOUSE PRICES REPORT Past 6 Months (42 Homes Sold) Past 6 Months Statistics with House Type & Style 1,400,000 1,325,000 1,200,000 1,079,009 1,085,035 1,125,811 HOUSE TYPE 1,000,000 998,000 998,000 1,056,500 Row/Twnhouse - 0 899,000 899,000 Detached - 34 Semi-Detached - 8 Duplex - 0 800,000 HOUSE STYLE 600,000 400,000 1 1/2 Storey - 5 200,000 2-Storey - 16 0 2 1/2 Storey - 0 3-Storey - 2 Bungaloft - 0 Bungalow - 17 Raised Bungalow - 2 SIdesplit - 0 List Price Original Price Sold Price 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. 972,866 945,649 959,971 954,954 961,285 962,273 947,586 988,271 971,097 973,183 981,980 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 JAN/JUN FEB/JULY MAR/AUG APR/SEP MAY/OCT JUN/NOV JUL/DEC AUG/JAN SEP/FEB OCT/MAR NOV/APR DEC/MAY

*Updated June 11, 2020 Tear-down

ALDERWOOD HPI HOUSE PRICES Based on MLS-Home Price Index (MLS®HPI)* 1,200,000 1,000,000 7.77% 800,000 Bungalow One Year Price Change 600,000 9.36% 400,000 2-Storey Detached 200,000 One Year Price Change Current est. price 0 8.79% for the house Composite 2 Storey Det Composite type. Not based One Year Price Change on avg sales. Bungalow Benchmark 1 Month Ago 3 Months Ago 6 Months Ago 1 yr Ago 3 yrs Ago *The MLS HPI® Price Index is a new, more accurate method of measuring real estate prices within a specific neighbourhood. This system uses a sophisticated statistical model that considers both the quantitative and qualitative features of your home. The “Benchmark” pricing is set each month. ROOM-BY-ROOM REVIEW PIN-POINT PRICING People often ask me about the best way to get the highest I don’t have to tell you that “hard” numbers price for their property. I love that question, because there don’t tell the whole story. You already really is a way to increase the value of your house – and know that there’s more to pricing homes it doesn’t need to cost a lot, or anything at all! than statistics, graphs and charts. It comes down to thinking about your house in the eyes It also takes the experience of working of a buyer. You live in your home now, but when it comes every day in the neighbourhood with time to sell, it’s a house. It’s now a commodity, competing buyers & sellers to understand what’s on the open market with other commodities. really happening behind the scenes. You don’t need a major renovation – you just want to We combine the real data with ongoing make your house the “best in class”. Our goal is to make experience. That’s how we can offer home your house the one that buyers remember as best of its sellers our guaranteed pin-point pricing. kind. When you’re ready, check out our Pin- The way to do this is to start with a “Room-By-Room point Pricing by calling our 24-Hr Free Review”. This is our proven method of getting the best out recorded message at 1-(855)-781-8881 of the interior and exterior of the house. It doesn’t mean Ext 32 a lot of work or a big investment. In fact, my team and I can take care of the whole thing for you! For those who need to buy or sell a home, during Covid19 precautions we are still able to provide To get your complimentary Room-By-Room review, just these services using technology. call 1-855-781-8881 Ext 18 for a 24-Hr Free Recorded Message Please call for more details 416-551-6847