Written by: adiner21
Looking to move? Trying to find an ideal place that blends cosmopolitan with community, family-knit with fun-loving? There are a lot of choices to make in this real estate market, but many people aren’t aware of the possibilities within Toronto real estate. Whether you’re looking to settle down or looking for your first home or condo, there are a variety of homes for sale in Toronto to satisfy a variety of preferences.
Understanding the Toronto real estate market and Toronto MLS can be tricky, but here you’ll find information to help you find the perfect place in Toronto.
Introduction to Toronto
Even if you’re a well-versed Canadian, you might not be aware of all of the unique attributes that Toronto has to offer. For example, while Toronto is Canada’s largest city, with a population of roughly 2.9 million, there are 307 km of creeks and streams that flow through the city into Lake Ontario as well as 8,000 hectares of parkland, both of which offer great opportunities to enjoy nature or just to find some quiet amid the bustle of city life.
The city proper comprises 641 square hectares and is surrounded by the Greater metropolitan area that includes communities such as Brampton, Mississauga and Markham, all of which are accessible by quick car commute or public transportation. Toronto became a mega-city in 1998 to include such neighborhoods as North York, Etobicoke, and Scarborough with the Toronto city proper. So, you have now have even more options to choose within Toronto real estate!
Homes for Sale in Toronto
Even though the real estate market is booming, homes for sale in toronto still has a lot of options to offer. The average home price in Toronto is slightly over 1 million Canadian dollars. Of course, there is variation within the city. According to the Toronto MLS, a single family detached home can range anywhere from slightly over 950k Canadian to slightly over 3 million. For comparison, surrounding neighborhoods such as Brampton offer single family detached homes for roughly 1 million CAD, while in Mississauga homes go for roughly 1.3 million CAD.
Compared to single family detached homes, single family attached homes cost 90%, townhomes cost roughly 75-80 percent and apartments cost 60-65% of what you would pay in the same area.
Generally speaking, as with most large cities, real estate closer to downtown will be more expensive. Thus, neighborhoods such as Scarborough offer more affordable, quieter and more suburban housing options. For those looking for more color, Roncy, East Chinatown and Kensington Market offer their own unique, cultural or artistic vibes with relatively affordable housing prices. Many families choose to live in Davisville Village/ St. Clair for the balance of quiet, easy commuting and affordability.
Other up-and-coming or extremely affordable neighborhoods include the Stockyards, Corso Italia and Mimico, each with their own unique cultural attributes, commuting convenience and affordable living.
Selling points of Toronto Real Estate
For those who are looking for a little more entertainment then work, family life and parks, Toronto has entertainment for everyone. There’s the CN tower for architecture enthusiasts, Second City theater for comedy fans, Toronto Botanical Gardens for plant lovers, the Royal Ontario Museum for natural history fans and, for sports lovers, the Blue Jays and Maple Leafs; if you get tired of Lake Ontario, world-famous Niagara falls is also nearby.
For those looking to ensure quality school opportunities, Toronto schools offer the modern, updated and hi-tech educational facilities one expects throughout the renowned Canadian public education system while accommodating the diverse background of the city’s residents. Given that Toronto is Canada’s largest city and de facto financial hub, it’s not surprising that Toronto continues to experience a strong and rising economy, with over 1 million jobs created since 2014.
Whether you’re looking to relocate, start up a business or branch out, Toronto offers many professional opportunities to compliment the diversity the city embraces.
FAQ’s about Toronto real estate
Is Toronto a safe city?
Overall, yes. While Toronto does have it’s fair share of gangs, outlaws and illicit activity, mostly in the downtown area after hours, Toronto is considered one of the safest cities in North America with a declining homicide rate of 1.76 per 100,000 people and where you can be fined if you leave your car unlocked or bags unattended. So, relatively speaking, Toronto is a safe city.
How’s the weather?
Surprisingly, given Toronto’s location on the large Lake Ontario. Winter lows can dip to -5 Celsius but average around 0 degrees Celsius (relatively warm relative to cities at similar latitudes around the world) and summer temperatures average around 22 degrees Celsius, though there are hot spells. Being a temperate climate, it receives roughly 30 inches of rain a year. So, while no tropical paradise, you get to experience the 4 seasons of a temperate climate but without extreme heat or extreme cold.
Let Guglu Homes guide your move to Toronto
If you’re looking for assistance in navigating homes for sale in Toronto, Guglu Homes offers a convenient and comprehensive database to find everything from listings to changing market conditions and pictures of properties of interest. Guglu Homes offers further features to help you narrow your search to specific communities as well as calculating the potential mortgage. With an abundance of linked searches for a variety of communities in addition to frequently asked questions to help guide your search, Guglu Homes helps you to make the most of your Toronto real estate search.