Hammer Time part two

By Michael McCann

Last month’s article certainly resonated with many Birch Cliff News readers. Considering the volume of emails I received, it seems we all have a very keen interest on what is being developed in the neighbourhood.

When any neighbour’s house sells I think we all universally respond with “What do you think they will be doing with property?” Good question!   What are they going to do?

If they are looking to get a variance to alter the property in a way that doesn’t conform with bylaws then the process requires the owner to go through Toronto’s Committee of Adjustment.

However only those who live within a 60-metre radius of the property will ever receive a Notice of a Public Hearing in the mail. If you happen to live outside this 60-metre zone then you are in the dark.

The good news is you don’t have to be in the dark. There is an online portal where you can find out who has applied for a variance with the City of Toronto.

Here’s the type of information you can glean from any specific applicant:

• File number
• Status of the application
• Application submission date
• Hearing date
• What the application is for

I love this site! And for full disclosure, whatever my property taxes are, I get more than my money’s worth from this one.

You might see homes on your street that are undergoing a massive renovation but are not listed on the site. The reason for this is simple: if a builder doesn’t require a variance then there’s no requirement to go to the Committee of Adjustment.

For those who want to know the skinny on every building project in the city, there’s a massive data file which Toronto’s Planning Department updates weekly. This Excel file is a beast as it includes proposed as well as active building permits and this translates into almost 200,000 individual permits. Whether your neighbour is building a backyard deck or the new Alpine condo tower, it’s all here.

It seems buyers have not been deterred in their quest for buying homes. I expect a wild spring housing market with Birchcliff housing prices continuing their meteoric rise.

We are still a hot neighbourhood and buyers not only look at bricks and mortar, but also whether the area will
still hold its values in 5, 10, or 15 years.   Well, for those who call Birchcliff home we know the answer to that.

Birch Cliff – Cliffside Home Sales in Feb. 2016 – 20 homes sold

Source:Toronto Real Estate Board. Excludes commercial properties, condos and vacant land.

Birchcliff/Cliffside

• in February 2015 and February 2016 there were 20 homes sold in both months – no change
• February 2015 our neighbourhood average sold price was $710,906 while February of this year the average sold price came in at a whopping $904,364 –  a 27% increase year over year
• It took 17 days on average to sell a home last February and 22 days in February 2016

Toronto Real Estate Board

• 6,294 sales in February 2015 with February 2016 showing 7,621 – Up by 21.1%
• The average selling price February 2015 was $596,320 and February of this year $685,278 – Up 14.9%
• In February last year it took an average of 23 days to sell a home while in February 2016 it was 23 days

Birch Cliff – Cliffside Home Sales in March. 2016 – 25 homes sold

Birchcliff/Cliffside

• In March 2015, 29 residential homes sold while in March of this year 25 sold
• Our average sold price in March 2015 was $628,021 while March 2016 the average sold price came in at $832,855 – an increase of 33%
• On average it took 17 days to sell a home during March 2015 and this past March almost half that time at 9 days

Toronto Real Estate Board

• March 2015 had 8,887 sales and in March 2016 10,326 – Up 16.2%
• In March 2015 the average selling price was $613,815 with March of this year showing $688,181 – Up 12.1%
• To sell a home last March took an average of 20 days to sell a home, with March 2016 cutting down to 16 days

[author] [author_image timthumb=’on’]http://www.stage2.birchcliffnews.com/wp-content/uploads/2012/06/Michael-McCann-New-Headshot-compressed.jpg[/author_image] [author_info]Written by Michael McCann, a realtor who lives in Birch Cliff[/author_info] [/author]

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