Toronto is an expensive city, especially when it comes to real estate. Even as our market cools, buying property is prohibitively costly, given the average price of a detached house surpasses $1 million.
A recent article in BlogTO features maps created by TheRedPin that charts the average sale prices of homes (and their equivalent condos, with three-plus bedrooms). The data was sourced from the Toronto Real Estate Board’s ‘Multiple Listings Service’ in May 2017. (Click maps to see larger versions).
When looking at all housing types (detached, semi-detached and condos), the area around Lawrence Subway Station in North Toronto is the most expensive with the average price soaring above $2.7 million:
*Courtesy of TheRedPin
When it comes to condominium prices, the area surrounding Bathurst Subway Station (Seaton Village and South Annex) carries the highest price tag, at $618,492:
*Courtesy of TheRedPin
For townhouses, Toronto’s new “darling” housing type, North Toronto’s Lawrence Subway Station is the most expensive, averaging a cost of $1.7 million!
*Courtesy of TheRedPin
You’ll notice expected trends, like high prices near Summerhill and Rosedale, but also how prices drop as you head further east, as we’ve written about in Why Toronto’s East Side Has Historically Been Cheaper. And anticipate prices rising around the Dundas Street West Subway Station, now that it has a connection on the Union Pearson Express!
Remember, with prices always fluctuating, this map is best used as a guide, rather than fact. But what it does certainly indicate is that anywhere on the subway line is becoming costly!
Speaking of transit, we recently posted a piece on how Torontonians covet being near public transit, and the effect of that desire on real estate: The Value Of Public Transit In Toronto. Every realtor knows the mantra “location, location, location”, and every homebuyer for that matter. But location, of course, is a relative word. After all, being located next to a prison or a landfill won’t do much for your home’s resale value. But there are a select few things that people will always pay more to live by, including efficient public transport. With real estate prices in Toronto climbing alongside the costs of owning a motor vehicle, it’s easy to see why homebuyers will fork over extra cash to be close to transit. Moreover, the aggravations that come with driving a car in the city – hard-to-find parking spots, steep parking rates, and headache-inducing traffic jams – have been pushing urbanites toward transit for years. After all, there are Real Financial, Emotional and Health Costs of Commuting.
Thankfully we live in a city where there are many different options for commuters, not just cars and transit. How about fitting in a healthy walk every morning? The strongest transportation movement in the past decade has been by cyclists, pushing for a more bike-friendly city ifrastructure: On Cycling In The City: Then And Now.
Would you like to live near public transit? With decades of experience navigating the highs and lows of our market, and our commitment to remain acutely aware of shifts and trends, we’re here to help! All without pressure or hassle.
May we be of assistance to you, or someone you love? Please know we’re here to help!
Steven Fudge and his Urbaneer Team
Bosley Real Estate Ltd., Brokerage • (416) 322-8000
http://www.urbaneer.com • info@urbaneer.com
– earn your trust, then your business –
Celebrating Twenty-Five Years As A Top-Producing Toronto Realtor
Like what you’ve read? Consider signing up in the box below to receive our FREE monthly e-newsletter on housing, culture and design including our love for unique urban homes and other Toronto real estate!
Love Canadian Housing? Check out Steve’s Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, product and real estate in Canada!
City Living
Real Estate
