Do you live in Alderwood in Etobicoke? If so, lucky you.
There’s been a significant increase in the values of the homes here in the last few years and staying on top of it has been both entertaining and valuable for those of us who live here.
Where Exactly is Alderwood?
Before I jump into the numbers, let’s clarify the area that makes up Alderwood. You can think of Alderwood’s firm borders as being defined by Evans Avenue to the north, with Etobicoke Valley Park and the last stretch of the Queen Elizabeth Way marking out the neighbourhood’s western limits.
As far as Alderwood’s eastern and southern borders go, those essentially follow the GO Train tracks that run between Kipling Station and Long Branch Station.
➤ More of a visual person? Click right here to see a map of Alderwood’s boundaries.
What Are The Homes Like?
You can think of Alderwood as a classic, low-key residential neighbourhood. The housing market here is mostly made up of detached and semi-detached homes, with very few condo buildings and condo townhouses around.
Because of Alderwood’s relatively quiet, very family-friendly and safe atmosphere, the neighbourhood attracts lots of families, single professionals, and investors, as well as new home builders.
In fact, Alderwood’s serene setting and traditionally generous lot sizes mean the neighbourhood has seen some big investment from individual homeowners and development companies over recent years. Back in the day, Alderwood was viewed more as a modest, low-key kind of ‘hood where homeowners could find great value for money when it came to square footage.
Today, the idea of owning a home on a lot size that large so close to downtown Toronto seems a little out of reach, which is why Alderwood has become so highly valued among luxury homeowners and real estate investors.
What’s It Like To Live In Alderwood?
If you live here, you’ll already know about all of the advantages to calling Alderwood home; and if not, here are a few of them:
- The surrounding nature is breathtaking; from Etobicoke Valley Park to The Toronto Golf Club and even the Lake Ontario waterfront, living in Alderwood means you’re right next door to all of these awesome outdoor amenities.
- Getting around is a breeze, whether you’re driving or taking public transit. Both GO Train lines and major highways and roadways pass right by Alderwood.
- Sherway Gardens is right around the corner. One of the city’s largest malls, you can find pretty much anything you’d ever need just a hop, skip, and a jump away from wherever your home in Alderwood is.
Alderwood is tucked away from the QEW, 427, and Sherway Gardens Mall. It’s within walking distance of beautiful nature trails, minutes to the airport, and it’s super close to a welcoming collection of local pubs that have that ‘where everybody knows your name’ vibe.
Alderwood is a neighbourhood where almost every backyard feels like you’re in your own private oasis, though you can still expect all of your neighbours to look out for each other. In other words, Alderwood truly feels like a small town just minutes from the big city. Alderwood is one of my favourite neighbourhoods, and I’m proud to call it home for more than 15+ years.
Alderwood is absolutely one of the best neighbourhoods in Toronto to live in, whether you’re east or west of the Humber River. If you’d like to learn more about what it takes to buy a home here, check out these blogs.
- Buying With Me — Steps To Buying A Home
- How to Find a Home in Alderwood With a Great Backyard
- Should You Buy The First Home You See?
Let’s Talk House Prices
According to the data I carefully prepared in my Alderwood Sold Reports, the housing price numbers collected for June 2021 reflect some predictable Year To Date trends.
Generally speaking, the average home in Alderwood sells for just above the $1.3 Million mark across the board, no matter what type of home in Alderwood I look at.
As you might expect, house prices for detached homes in Alderwood are generally higher than the prices for semi-detached homes here.
The Data On Detached Homes
Your typical detached home with three bedrooms and three bathrooms in Alderwood sells for an average price of about $1.35 Million. However, not all detached homes in Alderwood are listed equally.
- On the lower end of the spectrum, you can expect to pay an average price of just under $800,000 for a detached home, which tend to be single-storey bungalow-style properties that haven’t necessarily been updated recently.
- On the upper end of the spectrum, buyers can expect to pay an average price of just above $2.5 Million. These are typically Alderwood’s larger homes, consisting of five or more bedrooms and bathrooms.
In terms of how quickly they’re selling, however, the smaller detached homes spend way fewer days on the market than the larger luxury homes. On average, the lower-valued homes in Alderwood spend just one day on the market before they’re sold, with the larger homes taking an average of over 200 days to sell.
When dealing with the luxury market, however, it isn’t uncommon for higher-valued homes to take longer to sell.
Has Alderwood’s steadily increasing average sold price for homes got you considering a sale? Use these related links to help you determine whether or not you should sell your Alderwood home.
- 3 Selling Mistakes That Can Negatively Impact Your Final Sale Price
- Sell With Confidence — Steps To Selling A Home
The Data On Semi-Detached Homes
The quintessential semi-detached home with three beds and three baths in Alderwood sells on average for just under $1.9 Million. Here’s how the lower and upper ends of Alderwood’s semi-detached housing market perform.
- On the lower end, new Alderwood residents are buying semi-detached homes for an average price of $900,000. These typically feature two bedrooms and two bathrooms across the floorplan.
- On the upper end of the semi-detached spectrum, buyers pay $1.65 Million on average to secure their new homes. These usually feature an average of four bedrooms and bathrooms.
And, just like the detached market, there’s a bit of a gulf when it comes to how long houses on each end of the spectrum spend on the market. The less expensive semis in Alderwood typically spent just one day up for sale so far in 2021, with the costlier homes taking an average of 41 days to sell.
The Takeaways
It’s no surprise to me that Alderwood’s house prices continue to rise.
Across both the detached and semi-detached markets, homes in Alderwood are spending an average of just 13 days on the market before being sold.
New home buyers want to live here and are willing to pay for it, too. On average, homes are selling on for 107% of their asking prices, meaning competition is steep between buyers, no matter if they’re looking for smaller semis or larger detached properties.
So, if you’re thinking of selling your home in Alderwood, now is still a great time to list. Or, if you’re thinking about buying a home in Alderwood, be prepared to heavily rely on your professional real estate guidance to help you land the home of your dreams here.
If you want to learn more about the market in South Etobicoke, or if you just have questions, I’m here to help. Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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