January 3, 2011: Statistics on home sales in prime Riverdale last year were influenced by a number of low-priced small townhouses. The sales were lower in numbers compared to last year, the prices were generally higher, with some exceptions when more smaller townhomes became available, and the time required to sell a home was similar to 2009 with an exception of February and August, which were particularly slow.

In September the average number of days on the market was 11, but that value was skewed by one sale. A large detached home was originally listed in early July with a list price of $1,800,000. After 82 days, and after the asking price was finally reduced in September to $1,590,000, it was finally sold for $1,500,000. The average price in September was somewhat distorted by that sale, although four listings out of eleven sold over one million.

In November three listings took close to two months each to sell, distorting the required time by 40%. One of them, a vacant 2-bedroom detached home on a small street, was originally listed for $739,000, and sold, after reducing the price to $719,900, for $655,000 - at 88.6% of the original listing price.

At the beginning of January only eight homes are available for sale, all of them have been exposed to the market for between 33 and 165 days.

• neighbourhood information
• listings in Riverdale and surrounding area
• schools in Riverdale

Following are the statistics on real estate sales in Riverdale and Plater Estates since the beginning of 2008:

• number of sales
• average selling price
• average percentage of asking price
• number of listings sold above asking
• average number of days required to sell a home

The graph above - average number of sales in any given month - shows an activity that is fairly typical for Toronto real estate market. The number of sales fluctuates seasonally.

After a very busy 2009, 2010 was slower. In the first half of 2010 March and April sales exceeded in number the sales in the same period of the previous year. In the second half - November and December recorded more sales.

Riverdale has a very diverse mix of homes, with sizes ranging from small 2-bedroom townhouses to large detached residences with five or even six bedrooms. Therefore the average prices vary from month to month, depending on the sizes and quality of houses that were sold in each period. September had a good number of sales of expensive homes, which brought the average price over $900,000. That doesn't mean the neighbourhood suddenly became out of reach for most but the wealthy. At this moment, out of the 8 active listings, 7 are priced below $800,000, and 3 below $600,000.

The graph above tells us more about the state of real estate market in the neighbourhood. While the second half of 2009 show average sale-to-list ratios well above the norm, that percentage returned in 2010 to more typical values.

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This graph is even more telling. By comparing it to the first graph one can see what proportion of listings sell with competing bids.

And the last of the graphs shows the number of days required to sell a home in Riverdale. Apart from January and August, which were particularly slow last year, the results are fairly typical.

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Riverdale neighbourhood

Prime Riverdale, otherwise called north Riverdale, is located immediately east of the Don Valley, and reaches from Gerrard Avenue in the south to Fulton in the north and Pape Avenue in the east. That area includes a small neighbourhood of Plater Estates, located just north of Danforth and bordered by Broadview, Fulton and Jackman.

Popularity of this lovely area can be attributed to proximity to vibrant shopping and dining on Danforth between Broadview and Pape, excellent schools, parks, easy access to subway (three subway stops on the Bloor-Danforth line), interesting home styles, tall trees, and great mix of residents, majority of them young, affluent professionals and families.

Home styles range from two and three storey Victorian dating from between 1880 and 1924, through stately Edwardian residences to some modern houses built as infill. Plater Estates homes are mostly Edwardian, rather uniform in style and size, while Riverdale houses differ more in size and style, with some small two bedroom semi-detached homes and twonhouses sitting alongside large detached five bedroom residences.

Withrow Park, located in the centre of the neighbourhood contains tennis courts, baseball diamond, playgrounds, wading pool, an off-leash dog area, washrooms, water fountains and benches.

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Schools in Riverdale

• Withrow Avenue Junior PS , 25 Bain Ave., 416.393.9440; Website
• Frankland Community School , 816 Logan Ave., 416.393.9720; Website
• Holy Name Catholic School , 690 Carlaw Ave., 416.393.5215; Website
• Jackman Avenue Junior PS , 79 Jackman Ave., 416.393.9710; Website
• Pape Avenue Junior PS , 220 Langley Ave., 416.393.9470; Website
• Eastdale Collegiate Institute , 701 Gerrard St. E, 416.393.9630; Website
• Riverdale Collegiate Institute , 1094 Gerrard St. E, 416.393.9820; Website
• School of Life Experience (alternative high school), 24 Mountjoy Ave., 416.393.0756; Website