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www.OrchardHeights.info for the rest of your newsletter...
THE ORCHARD HEIGHTS REPORT
QEW
Dixie Rd
Etobicoke Creek
Orchard Heights
Toronto Golf ClubMelody Pearce’s Real Estate Newsletter
LIVING & WORKING IN ORCHARD HEIGHTS!
ORCHARD HEIGHTSLocal Market Watch
For detailed Orchard Heights statistics:www.OrchardHeights.info
# sold avg price high price days on market
Latest 6 Month Recap of Solds – May 1, 2019 - Oct 31, 2019
Cell: 416-458-2626MelodyPearce.com
MELODYPEARCE
Broker
RIVER REALTY LTD, BROKERAGE
-2 0 2 4 6 8 10
4.1%
6.5%5.2%
8.6%5.8%
Detached
TownhouseSemi-Detached
Condo ApartmentComposite Index
GTA Resale Home Sales
2017 2018 2019
2,000
4,000
6,000
8,000
10,000
12,000
14,000
DECOCTAUGJUNAPRFEB
GTA SALES GROWTH CONTINUES TO OUTSHINE LISTINGS GROWTH
• October sales were up by an eye-popping 14.0% versus October 2018, bringing year-to-date volume growth to 12.7%
• Overall volume remains well behind the torrid pace set in both 2016 and 2017 (pre-stress test)
• October average price was up by 5.5% versus last year, while the overall MLS® Home Price Index Composite Benchmark was up by 5.8%
• New listings declined by 9.6% versus last year; declining new listings against increased sales will produce more price growth
MARKET HIGHLIGHTS Resale Home Sales
MLS® Home Price Index by Segment
7,448Oct 2018
Oct 2019
8,491
+14.0% yearyear
OCT 20198,491
1.5 to 3 storey detached
4 bedroom 1 1,920,000 1,920,000 34
bungalow
3 bedroom 12 1,139,167 1,310,000 14
split-level
3 bedroom 2 985,000 1,130,000 23
Total 15 17
Season’s Greetings!
I would like to extend my most hearty wishes to you and your family for a joyous and festive holiday season. I would also like to wish you a very happy, healthy and prosperous year in 2020. Please drive carefully over the holidays and let’s all remember to do whatever we can to help out those who are less fortunate than we are at this very special time of year.
MESSAGE FROM MELODY...
December 2019
December 2019
December 2019
December 2019
December 2019
December 2019
DECEMBER 2019
Contemporary WHT
Jumbo Cluster Booklet
Contemporary BLK
Jumbo Booklet Market Date
HOMELIFE
Jumbo Booklet Footer Date
MacDonald
DECEMBER 2019
BEBAS BOLD CAPS
DECEMBER 2019
December 2019
FUTURA MEDIUM
Veinot
DECEMBER 2019
Montano
DECEMBER 2019
December 2019
Yu
December 2019Guci
December 2019Guci
December 2019CROCKETT
Borg
Switzer
December 2019
Nik Oberoi
December 2019
Sam Galloway
DECEMBER 2019
DECEMBER 2019
Adobe Caslon GOLD
December 2019
DECEMBER 2019
Hardi
Not intended to solicit buyers or sellers currently under contract with a brokerage. Figures based on the latest 6 months and reflect all MLS® sales as reported by the Toronto Real Estate Board. Market values depend on other factors. Copyright © 2019 Mission Response Inc. 416-236-0543 www.missionresponse.com All Rights Reserved. T2302
The Orchard Heights Report
FIVE HOME IMPROVEMENT PROJECTS THAT ARE COMMONLY
UNDERESTIMATED
According to a recent CIBC poll on home renovations, 39 percent of homeowners who had completed renovations went over budget. Homeowners consistently underestimate their renovation projects, whether due to unexpected costs like paying for accommodation in case they have to live elsewhere, or whether due to unrealistic budgeting and the lack of a contingency fund. Going over budget could also simply be the result of making unnecessary changes, like installing fancy hardware fi nishes. Here are fi ve projects that homeowners tend to underestimate. Kitchen remodelsAccording to TrustedPros.ca, a website that rates contractors, the national average budget in 2016 for a kitchen renovation was around $14,480. However, kitchen renovations actually cost $5,000 more than that. Bathroom remodelsBathroom renovations are another popular home improvement project that can quickly get out of hand fi nancially. It’s a complicated project that can involve multiple contractors including electricians, plumbers, and tile installers. There’s also the risk of fi nding water damage and mold in the walls.
New doors and windowsHomeowners also underestimate the cost of installing new doors and windows. It’s the kind of project that doesn’t have a huge impact on the aesthetic of the home, so it’s easy to make the wrong estimate. Homeowners need to consider the cost of quality materials, labour, and additional components such as insulation, not to mention the trend towards more energy-effi cient products. New fl oorsThis is a popular home renovation project and rightly so as it has a great return on investment and can immediately spruce up a space. However, most homeowners budget for more aff ordable materials such as laminate and ceramic fl oor products, leaving no room in case they change their mind and invest in quality hardwood materials. BasementsThis can be one renovation project that really digs into the wallet. A good rule of thumb is to get an expert to inspect the home foundation before any renovations begin. A leaky foundation can be a major headache, so it’s best to catch it early before any work is done.
REAL ESTATE “A TO Z” WHAT IS LOT SEVERING?
Also referred to as lot splitting, lot severing is when two houses are constructed on one lot that was originally made for one. It’s an approach to increase housing in municipalities that are facing an affordability crisis, growing population, and lack of land.
Most municipalities have specific policies and requirements for land severing and appropriate approvals are necessary before any work can proceed.
Although land severances have become more common in various neighbourhoods across Canada, it has shown to be a divisive issue. Homeowners against land severances argue that the new houses don’t aesthetically resemble
existing houses in the neighbourhood. They also worry about increased density and how negative effects to the community’s character could reduce their property values.
Meanwhile, proponents say lot severing adds more affordable housing to the market and solves the problem of over housing where residents are living in big houses with empty bedrooms. They also argue that the increased density is a good thing as it could prevent school closures, add needed transit lines, and help local businesses thrive.
December 2019
December 2019
December 2019
December 2019
December 2019
December 2019
DECEMBER 2019
Contemporary WHT
Jumbo Cluster Booklet
Contemporary BLK
Jumbo Booklet Market Date
HOMELIFE
Jumbo Booklet Footer Date
MacDonald
DECEMBER 2019
BEBAS BOLD CAPS
DECEMBER 2019
December 2019
FUTURA MEDIUM
Veinot
DECEMBER 2019
Montano
DECEMBER 2019
December 2019
Yu
December 2019Guci
December 2019Guci
December 2019CROCKETT
Borg
Switzer
December 2019
Nik Oberoi
December 2019
Sam Galloway
DECEMBER 2019
DECEMBER 2019
Adobe Caslon GOLD
December 2019
DECEMBER 2019
Hardi
SOLD
Sold For 117% Of List Price!This property was just sold for 117% of the list price! Bright and sunny 4 bedroom, 3 bathroom home. Features a beautiful foyer with hardwood furnishings. Short walk to transit and amenities!
FOR SALE
ExclusiveFabulous 3 bedroom, 4 bathroom townhouse. Master bedroom features walk-in closet and 4-piece ensuite. Newly renovated kitchen means the kids won’t go hungry! Call me today for details!
FOR SALE
Newly Renovated!Newly renovated from the ground up. 3 bedroom, 3 bathroom + den home in a quiet hamlet. Features updated kitchen with stainless-steel appliances, and guest bedroom. Asking $789,000.