Semi-detached prices may be losing steam

Leaside sales by street 2013 vs. 2014 year to date (end August)
Leaside sales by street 2013 vs. 2014 year to date (end August)

For a while, the falling number of semi-detached homes for sale in Leaside and Bennington Heights was raising prices faster than those of detached homes.

But the tide may be turning.

The MLS year-to-year figures for semi-detached homes, from July last year to the end of July this year, show 41 sales, a 2.4 percent decrease in sales volume, and a 10.5 percent increase in average value over the same previous 12 months.

And the figures for the first seven months this year, to the end of July, show a big change, from 26 sales, a 27.8 percent decrease in volume, compared to the same seven months in 2013, and a 13.5 percent gain in average value, up to $814,435.

Detached home prices rose during the year-to-year 12-month period, but not as much. There was a 6 percent rise to $1,456,254.

And the sales volume rose instead of dropped, up 6.9 percent to 171 sales.

But June this year saw a major shift: a 138 percent increase in detached home sales (31 homes) over June last year with the average value up 13.7 percent to $1,457,925.

July saw a smaller increase in volume, 9 homes sold for a rise of 12.5 percent, and a decrease in value, down 13.8 percent compared to last July.

But summer is usually a slow month, and putting June and July together shows a possible new trend.  

Jethro Seymour is a broker at Johnston & Daniel. All figures are from the Toronto Real Estate Board’s Multiple Listing Service.