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.
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.
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 95,000 residential sales through our Realtor's system in 2020, which represents a 8.4% increase from 2019. This is our third best year on record for sales, despite the unprecedented lockdowns and difficulties associated with the Covid-19 pandemic during the year. Additionally, December 2020 delivered a record result of over 7,000 units sold, which represents a 64.5% increase year over year. The average sale price increased by 13.5% to a new record of $930,000. The strongest price growth was experienced in the low rise single family home types in the suburbs of GTA. This is also the region experiencing the best sales increases year over year.
March to the end of May saw a pronounced dip in market activity, understandably due to the lockdowns. The second half of the year was very strong however, starting with a 'late spring' market in June and progressing to record sales and price increases thereafter.
Ram's take: "The market in 2020 exhibited tremendous sales and price growith in detached, semi and townhouses, on account of a shortage of supply and great market demand. Despite these achievements, it's important to note that it was not shared equally across all housing types. Condominum high rises, while also demonstrating price growth, did not do quite as well as the single family housing type. Essentially, demand far outstrips supply for low rises, while the opposite is the case in the high rise market. It is clear that low rise 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, but changes to mortgage stress tests in 2020 and lower rates could alleviate difficulties for buyers to a degree. The impact of the latest lockdown on the real estate market remains to be seen."