Photo courtesy of www.DaleBiason.com
This year I predict that we will see larger four bedroom homes, that are properly marketed, (dressed to kill) sell in the high $900’s. This is based on recent sales of a semi at $700,000 and a town home for $580,000. Based on those numbers, it seems logical that a 2500 sq. ft. detached should be selling north of $900. That being said, its what’s inside that counts. To reach the target price, the home should be significantly updated, and show well.
A consultation with a home stager could help you identify things that may detract buyers, and provide options to add thousands to your sale price.
In the last 180 days, the median sale of a 4 bedroom home in Rockwood was $844,000. The Royal LePage pricing survey “forecasts that prices in central Toronto will continue to rise, predicting 5.5 per cent year-overyear growth across housing categories during 2016”. Using this calculation our median price this year should be $890,420. Since the median includes small houses, larger houses, homes that need repair and those that are all dressed up, these support the prediction for escalating prices in Rockwood. As for the million dollar neighbourhood, we are there. Two homes in the original Rockwood area sold over 1 million last year. We are seeing consistent 1 million plus homes sold in the area south of the Longo Plaza.
The traditional selling season for homes in Rockwood is only a month away. Once we pass Easter Weekend, the end of March this year, hopefully we will see a few more listings come onto the market. Right now there are only 5 listings, and all are listed well over last year’s pricing.
A consultation with a home stager could help you identify things that may detract buyers, and provide options to add thousands to your sale price.
In the last 180 days, the median sale of a 4 bedroom home in Rockwood was $844,000. The Royal LePage pricing survey “forecasts that prices in central Toronto will continue to rise, predicting 5.5 per cent year-overyear growth across housing categories during 2016”. Using this calculation our median price this year should be $890,420. Since the median includes small houses, larger houses, homes that need repair and those that are all dressed up, these support the prediction for escalating prices in Rockwood. As for the million dollar neighbourhood, we are there. Two homes in the original Rockwood area sold over 1 million last year. We are seeing consistent 1 million plus homes sold in the area south of the Longo Plaza.
The traditional selling season for homes in Rockwood is only a month away. Once we pass Easter Weekend, the end of March this year, hopefully we will see a few more listings come onto the market. Right now there are only 5 listings, and all are listed well over last year’s pricing.
This article was originally published in the Spring 2016 issue of the Rockwood Homeowners' Association quarterly newsletter, The Rockwood Times.