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.
Custom One Bedroom Condominium High Rise in Scarborough at Warden and Finch. Skygarden at Bridletowne Circle. Touch Photo for details. Asking $729,800
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.
March 4 - Toronto Regional Real Estate Board realtors reported 7,256 residential sales through our Realtor's system in February 2020, representing a 45.6 per cent increase over sales for the same period of 2019. While the growth is notable, it's important to note that the corresponding period last year represented a 10 year sales low. Stil, the sales were lower than 2017's record.
Low rise homes saw the stongest sales acceleration, which contrasts with 2019, when condos were the most robust housing type. New listings increased by 7.9% to 10,613 this month. Note the divergence between sales and new listings, which is evidence of much tighter real estate market conditions. This situation has resulted in much more competition between buyers and sellers, which in turn has pushed average selling prices for all types of homes up by 16.7% to $910,290. Both condos and low rises saw double digit price growth.
Ram's take: "The market in 2020 has started off very strongly, on account of robust demand listing shortages in most housing types. Housing affordability continues to be a major GTA concern, but recent changes to mortgage stress tests and lower rates should alleviate difficulties for buyers to a degree. Despite this strong start, there are clouds on the horizon, with COVID-19 having the potential to cause near term stress."