Buyers drawn to Mayfair are usually looking for mature trees, a tree-lined street and an older housing stock at a lower entry price than newer subdivisions, rather than the amenities of a purpose-built new-home neighbourhood.
The trade-off is condition risk. Older housing stock in Mayfair carries a wider range of unseen work, wiring, plumbing and foundation repairs done at different times, some permitted and some not, so two homes on the same block can carry very different real values.
That range is why a neighbourhood average tells a buyer or seller very little on its own. Joel Dyck's hand-reviewed valuation prices a specific Mayfair home against its actual condition and genuinely comparable sales, not against a citywide or neighbourhood average.