Monthly Archives: March, 2015

February 2015 Market Review

March 11th, 2015 Posted by Market Review No Comment yet

The Toronto real estate market had a great month in February. In the face of a decline in new listings (-2.8%) and active listings (-8.7%) compared to 2014, the number of sales surged 11.3%, to 6,338. Naturally, that created competitive situations for buyers. It’s that competition that has been driving prices up in Toronto over the last number of years. Last month, the average price went up 7.8%, to¬†$596,163.

That average number includes all types of homes – not just the detached homes that get the major headlines. Sure, the average price for a fully detached house in Toronto has edged past the million dollar mark, but there are other types and styles (semi-detached, townhouses, stacked towns) which remain affordable.

The best part (from a ‘strong-market’ perspective) is that those sales happened during the coldest February on record. Bad weather is often a deterrent to market activity. Obviously, a large snowfall can slow down the whole city. Extreme cold can also have a dampening effect on real estate sales – because who wants to be snooping around the outside of a house, or contemplating it from the sidewalk out front, when the wind-chill is -35C? All those sales last month show that buyers in Toronto sure are keen – and tough! ūüėČ

March may still throw some snow at us (as it so often does), but the daytime highs¬†are mostly going to be above zero. Spring is well on its way! This is always good news for the real estate market: it’s more comfortable¬†to be outside (or in-and-out of a vehicle), snowbanks melt (making parking easier) and homes and gardens start to show better – which is what so many sellers wait for. The spring surge will begin soon.

Street Profile: Bastedo Ave

March 2nd, 2015 Posted by Street Profile No Comment yet

Over the years I have completed five transactions¬†on Bastedo Ave, near Coxwell/Danforth. That’s tied for the most I have¬†sold on any street! Each sale had its own story: a first time buyer, an estate sale, and various move-up/move-on situations. Some of the buyers chose Bastedo because of the great value in those houses, the friendly nature of the neighbourhood, and the proximity to the Coxwell subway station, but whatever the reasons, everybody seems to have ended up very happy on Bastedo Ave.

Located just three blocks east of Coxwell Ave, and running south from Danforth, Bastedo Ave offers an eclectic mix of 2 and 3-bedroom semis (some with parking, many without), a smattering of fully detached houses, and some newer town homes at the bottom of the street.¬†Although the street lacks the nearly-complete tree canopy that we find on many streets just a few blocks further south, there are plenty of young-to-middle aged trees, meaning there’s a good chance of a thickening canopy over the coming years. (By the way, you can tap in to the City’s tree planting program. I posted a story about that earlier this year.)

One of the biggest draws to Bastedo Ave, and many of the streets around it, is ‘The Danforth’, well-known for the¬†great selection of restaurants, pubs, cafes and services available there – pretty much everything! (That stretch of the street is covered by the Danforth Mosaic Business Improvement Area – check out their web site for a list of businesses and activities.) Having a walkable neighbourhood has always been important in Toronto, but seems to be getting even more so as the city increases in density. Danforth offers that local walking lifestyle, while offering quick access to the subway, which is always a huge advantage.

Walking distance to Monarch Park, Bastedo Ave is even closer to East Lynn Park, home to the local farmers’ market. The local public school is Earl Haig (JK to Gr.8); the high school is Monarch Park C.I. If you want to head down to the Beach you can hop on the Coxwell 22 bus and be there in minutes, and if you are driving, you have ready access to the DVP (straight up Coxwell to O’Connor, followed by a short drive over to Don Mills Ave) and the Lakeshore-Gardiner-QEW at the bottom of Coxwell. All in all, the location offers a few decent ‘escape routes’ from the city.

Here’s what one of my clients had to say about life on Bastedo Ave:

“I purchased my first home 10¬†years ago. I looked at many homes throughout Toronto but it was the cute, bright, semi on Bastedo that caught my eye. The house was affordable (I was single at the time), on a nice tree-lined street and close to the subway. In those 10¬†years, lots changed. The I became we. Then baby made three, and we had even more reasons to love Bastedo with the parks, drop-in centres and¬†library¬†just around the corner. However, with all that Bastedo has to offer, my favourite part has to be the neighbours. It’s a diverse group of individuals who really care about one another and have pride of ownership.”

From a Realtor’s perspective, Bastedo offers a great mix of affordability and lifestyle. It’s a great street (and area) for the first-time buyer, and perfect for those who want to live car-free. If you haven’t yet considered Bastedo Ave, you should! If you are in the market, contact me for more info and let’s go check it out.