As both Canada's & Ontario's most populous & busiest city, Toronto's real estate market has seen tremendous housing appreciation in recent years, with MLS Listings flying off the shelves. Buying a house or condo has been increasingly difficult for home buyers, due to high demand & competition. Multiple offers & lost real estate bidding wars have meant that many apartment renters wanting to purchase a property in major residential housing markets such as North York have had to give up. New mortgage rules that came into effect recently have also made owning homes & condos in Scarborough & other suburbs such as Markham, Vaughan or Ajax a dream out of reach for many. Recent talk of a real estate bubble by commentators has, to date, been overblown. Although home & condo prices remain high compared to historic norms, most analysts expect the residential boom to continue, albeit at a slower pace. We continue to experience real & significant population growth, & everyone needs a dwelling of their own. Property prices will likely follow.
GTA districts have numerous types of homes for sale available on the MLS listings service. Options include detached houses, semi-detached or townhouses. Less clear is what style: There are, for instance back split style homes for sale in Markham suburbs that offer a lot of housing value for money. Another popular choice are bungalows, which have shown real house price appreciation due to demographic changes, more common 2-storey house styles, or new homes in suburbs. With regard to condominiums, older condo residences normally have higher maintenance fees but offer more space, but smaller newer condo developments provide higher sale prices per sq ft.
Spacious One Plus Den at Highway 7 & 404 in Richmond Hill. Touch Photo for info.
Stylish Two Bedroom & Solarium Corner Suite at Steeles & Warden. Touch Photo for info.
One Br Condominium High Rise in Scarborough at Warden and Finch. Touch Photo for info.
One Bedroom Condo Residence at Kennedy & 401. Touch Photo for info.
Start browsing homes for sale or condos for sale using a Searchable Toronto Map listing properties for sale in GTA. Access it by clicking on the icons below to search real estate or alternatively, search from the menu at the top to find properties. There is info on this site covering other districts and neighbourhoods as well, including North York, Scarborough, Markham, Vaughan etc.. If you see something interesting, please contact me so we may view it. Please note that housing conditions are robust & many may already be conditionally sold, so please get in touch so I can verify availability.
A vital part of any home buying search is locating one of Torontos realtors to assist you. A successful realtor can help you navigate the myriad residential properties currently being promoted. They should be experienced so they can quickly locate what you want. Agents are paid on commission, & in most cases sellers bear the cost of their services, so a house buyer can concentrate on finding their preferred property. Your residential property agent should know about neighbourhoods, style of homes, relative prices of real estate in Toronto, & amenities.
Toronto is known for its different neighbourhoods. New neighbourhood names have resulted from recent redistricting. A good realtor will be familiar with areas to assist an anxious home buyer wanting to know how areas are ranking & which pockets are safe. Willowdale & Bayview Village are excellent & established locales sporting many condos. Scarborough is always popular with new comers & has many affordable bungalows & new developments near the Town Centre & older spacious units near Bridletowne Circle. Markham has developed fast & has newer houses near Cornell & Unionville , as has Vaughan near Thornhill Woods. There is a Toronto neighbourhood map & links to various neighbourhoods by name here. Select from the menu on the left & let this site be your neighbourhood guide.
January 6 - Toronto Regional Real Estate Board realtors reported over 121,000 residential sales through our Realtor's system in 2021, a new record. It represents a 28% increase from 2020 and an almost 8% increase from the previous high reached in 2016. This occurred during a supply constrained market, with listings only up by around 6% in comparison to the prior year – this in turn resulted in all time high selling prices, which averaged $1,095,475 (almost 17% increase in comparison to 2020) for the GTA. Despite Covid-19 continuing to impact economic conditions, record low borrowing costs supported home buying. As in the prior year, the 905 region exhibited the largest price growth, but 2021 also saw a resurgence in demand for homes in the 416 area code, and also condos throughout the GTA.
Tight inventory conditions across all home types resulted in significant competition for existing listings, and this helped to push selling prices up by double digits during the year. While December saw a reduction in sales in comparison to 2020, listings were also down and this resulted in price increases even in the last month of the year.
Ram's take: "The market in 2021 exhibited tremendous sales and price growith in all types of housing (detached, semi, townhouse and condo), on account of a shortage of supply and great market demand, fueled by low interest rates. Last year also saw a resurgence in demand for housing in the 416 area. In addition, condominum high rises, which were saw a temporary loss of appeal on account of the onslaught of the pandemic in 2020, experienced a strong snap back in demand. It is clear that supply shortages continue to be a problem for our market, and hopefully this will be addressed by policy makers. Housing affordability in turn also continues to be a major GTA concern, and this also can be best solved by rapidly building supply across the housing spectrum and in areas which are accessible to transit."