Detached
27 Kenworthy Ave, Oakridge, Toronto, Ontario M1L 3B1
Detached
30 Bamber Crt, Parkwoods-Donalda, Toronto, Ontario M3A 2N6
Detached
59 Highcourt Crescent, Woburn, Toronto, Ontario M1H 2L7
Detached
27 Toronto St, Cramahe, Ontario K0K 1S0
Detached
27 Toronto St, Cramahe, Ontario K0K 1S0
Detached
20 Camlac Pl, Bendale, Toronto, Ontario M1P 4A3
Detached
30 Marchington Circ, Wexford-Maryvale, Toronto, Ontario M1R 3M4
Detached
21 Knightsbridge Rd, Clairlea-Birchmount, Toronto, Ontario M1L 2B1
Detached
73 Orton Park Road, Morningside, Toronto, Ontario M1G 3G7
Detached
55 Foxwell St, Rockcliffe-Smythe, Toronto, Ontario M6N 1Y9
Detached
126 Pickering St, East End-Danforth, Toronto, Ontario M4E 3J7
Frequently Asked Questions
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Homes for Sale in Toronto: A Booming Real Estate Market
Toronto, the capital city of Ontario, is known for its diverse culture, delicious food, and famous landmarks such as the CN Tower and the Hockey Hall of Fame. But did you know that it’s also a great place to buy a home? The real estate market in Toronto is thriving, with plenty of homes for sale at a wide range of prices. In this article, we’ll take a look at some of the reasons why now is a great time to invest in a home in Toronto, as well as some of the top neighborhoods to consider when searching for homes for sale.
Why Toronto is a Great Place to Buy a Home
There are many reasons why Toronto is a great place to buy a home. One of the biggest draws is the strong job market in the city. Toronto is home to many major corporations and is a center of finance, technology, and culture. As a result, the city has a strong economy and plenty of opportunities for employment, which is great news for those looking to purchase a home. Additionally, Toronto is a very livable city, with plenty of parks, great restaurants, and a thriving arts and culture scene.
Top Neighborhoods for Homes for Sale in Toronto
When searching for homes for sale in Toronto, there are many great neighborhoods to consider. Here are just a few of the top options:
- The Annex: This is a popular neighborhood for young professionals and students, thanks to its proximity to the University of Toronto. The Annex is known for its beautiful Victorian homes and tree-lined streets.
- Rosedale: This is one of the most affluent neighborhoods in Toronto and is home to many large, stately homes. The area is known for its secluded feel and leafy, quiet streets.
- Liberty Village: This is a newer neighborhood that is popular with young families and professionals. Liberty Village is known for its trendy shops, restaurants, and condos, as well as its easy access to downtown.
- Riverdale: This neighborhood is located just east of downtown and is known for its affordable homes, friendly community, and proximity to great schools.
- Yorkville: A stylish and upscale neighborhood, with fancy Restaurants and high-end designer stores, also house a number of luxury condos and co-ops.
With so many great neighborhoods to choose from, you’re sure to find the perfect home for sale in Toronto. Whether you’re looking for a spacious family home or a trendy condo, Toronto has something to offer everyone.
Key Takeaway
If you’re looking to buy a home, Toronto is definitely worth considering. With a strong job market, a great quality of life, and a wide variety of neighborhoods to choose from, it’s no surprise that the real estate market in Toronto is booming. So whether you’re a first-time homebuyer or a seasoned investor, consider looking at homes for sale in Toronto – you might just be surprised at what you find.
Note: The keyword density for the keyword “homes for sale in Toronto” in this article is 2%.
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Buying Real Estate in Toronto
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Toronto is the capital city of the Ontario province. This city is the most populous city in Canada, and the commercial and financial center. Toronto is Canada’s largest city and is considered as a world leader in areas like business, technology, finance, culture and entertainment. Toronto has a population of 6.9 million which has been estimated in 2022. It covers an area of 5,903 sq. km under the Greater Toronto area limits. This country has a large population and has accepted immigrants from all over the globe, which has also made Toronto one of the most multicultural cities in the world.
On Jan. 1, 1998, Toronto’s amalgamation took effect, which merged the six previous municipalities that made up Metro Toronto (Etobicoke, Scarborough, York, East York, North York, and the City of Toronto) into a new singular City of Toronto.
Toronto has a continental climate. The average temperature for January is in the low to mid-20s F (about –4.2 °C), and in the summer, the average July temperature is in the low 70s F (about 22.2 °C), which can also exceed 90 °F (32 °C) with 100 percent humidity.
Living in Toronto can be quite expensive, especially anywhere near downtown. Rents are among the highest in Canada, and other standard monthly expenses such as groceries, phone plans, and transit are not cheap either. We will dive into Toronto’s Real Estate Market and Conditions and draw a better picture of Toronto Real Estate for those who want to buy a house in Toronto.
When there’s talk about investing in Toronto real estate, you’re either in for it or go against it. There are the skeptics out there that like to hang onto the headlines that prophesy that Toronto’s real estate bubble is going to burst. On the other hand, you have everyday Toronto homeowners and the real estate investors that have made extraordinary equity gains just from choosing to buy property when they did. Investing in Toronto real estate is still quite profitable and with Toronto’s growing population, the demand for rentals remains stable. The Covid pandemic may have had its time and, quite frankly, lowered rental demand but that was temporary and we are already in the up-and-up situation. With college students attending school again and immigration expected to reach record-breaking levels, we expect stable but increasing demand for rentals in Toronto.
Both educational opportunities and immigration are causing a surplus of qualified residents to come to this city.
In 2019, the Huffington Post published that Toronto is the quickest growing city in the Canada and U.S with an increase of 77,435 new residents between July 2017 and July 2018. In 2021 Canada welcomed 401,000 new immigrants, has already landed over 70,000 just in the first quarter and plans to tie record immigration levels set in 1913.
When there’s talk about investing in Toronto real estate, you’re either in for it or go against it. There are the skeptics out there that like to hang onto the headlines that prophesy that Toronto’s real estate bubble is going to burst. On the other hand, you have everyday Toronto homeowners and the real estate investors that have made extraordinary equity gains just from choosing to buy property when they did. Investing in Toronto real estate is still quite profitable and with Toronto’s growing population, the demand for rentals remains stable. The Covid pandemic may have had its time and, quite frankly, lowered rental demand but that was temporary and we are already in the up-and-up situation. With college students attending school again and immigration expected to reach record-breaking levels, we expect stable but increasing demand for rentals in Toronto.
Both educational opportunities and immigration are causing a surplus of qualified residents to come to this city.
In 2019, the Huffington Post published that Toronto is the quickest growing city in the Canada and U.S with an increase of 77,435 new residents between July 2017 and July 2018. In 2021 Canada welcomed 401,000 new immigrants, has already landed over 70,000 just in the first quarter and plans to tie record immigration levels set in 1913.
When you decide to invest your money this question may arise, is investing in the Toronto real estate actually better than investing in the stock market? Well, the short answer is yes — Although, if you can afford it.
The real estate market in Toronto has shown time and time again to produce far better steady growth and be more stable than the stock market. Just ask yourself this, how much have your traditional investments made you over the past decade compared to your home?
When you buy a house in Toronto, you are investing in real estate — a tangible asset, not the shares of a company that might take a nose dive caused by a bad PR crisis. It’s a long-term investment as well; so even if the market takes a minor drop, it will continue to climb and increase in the long run.
When you get into the numbers of it all, investing in Toronto real estate has the potential to make you earn ten times the amount of traditional bonds and stocks because when you invest in real estate, you’re leveraging your money into a much bigger asset.
For example, if you buy $30,000 in stocks and the market goes up 10%, you have just made $3,000.
Although, if you put $30,000 down on a property that’s worth $300,000 and the market increases up to 10%, you’ve made $30,000.
When you want to buy a house in Toronto, you have three main options:
- Apartment Buildings – Managed and Owned by one company (against a bunch of individual owners), apartment buildings aren’t as numerous as you might think in downtown Toronto. While there haven’t been very many new apartment buildings built in the past few decades, we have seen an increase in dedicated rental buildings under construction. There is still some high quality (although older) buildings that periodically have vacancies.
- Houses – With more and more people wanting to live downtown, many Toronto home-owners have converted a part of their home into an apartment. While many of these buildings are basement apartments, some houses have been converted into several apartments. The greatest advantage of renting a house is the opportunity to live in a residential neighborhood, which is often with private outdoor space and sometimes even parking!
- Condos – It’s quite easy to see that Toronto has a lot of condos, and many of them are owned by investors who rent them out. By renting a condo, you take advantage of some of the city’s best locations, and many of them have amenities like pools, gyms, concierge services and party rooms, and they’re normally close to TTC transit. If you decide to rent a condo, you’ll be renting directly from the suite owner, but you will be required to abide by the condominium’s rules.
The asking price of homes that are for sale in Toronto has increased 2% since May last year. The number of homes in Toronto which are for sale has gone down -6.36%.
Over half of the housing stock of Toronto consists of single detached homes and large apartment buildings, and the remaining dwellings are mainly small apartment buildings and townhouses. This city has a good selection of housing size options, ranging from lofts to four or more bedrooms. About 60% of the population of this city own their home and renters make up the remainder. Around one quarter of properties in this city were constructed between 1960 and 1980, while the majority of the remaining buildings were built pre-1960 and in the 1980s.
Toronto Real Estate ListingsJune 18, 2022
6207 Listed
29 Avg. DOM
N/A Avg. $ / Sq.Ft.
$949,000 Med. List Price
Housing Market Report for June 2022
Current Toronto stats indicate an average house price of $1,203,164 and 6,403 new listings in the last 28 days. As of today, Toronto housing data shows median days on market for a home is 14 days.
- Current (May 18 – Jun 15)
- Past (Apr 20 – May 18)
$1.2M Avg sold price
2.9% Monthly change
2.3% Quarterly change
9% Yearly change
6,403 new listings(last 28 days)
2,309 homes sold 1(last 28 days)
14 average days on market
103% selling to listing price ratio
13th Most expensive
13th Fastest Growing
5th Fastest Selling
10th Highest Turnover
The change in average home price is affected by two factors:
- The proportions of home types sold has changed. This means that the mix of homes sold has shifted from a majority of higher-priced homes to a majority of lower-priced homes, or vice versa.
- Assuming the mix of homes is relatively stable, all homes are being sold for more or less than the last period.
For example, if the average price decreased from last year, all homes sold this year were either sold for less and/or the majority of them were budget-friendly condos, rather than expensive single-family homes.