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Savvy investors are looking at buildings in Toronto’s condo market in west-end Toronto. The surrounding neighbourhoods such as Roncesvalles, High Park, Bloor West Village and The Junction are a huge draw attracting both end-users for long term, as well as those planning on renting out their units.

Foreign investors consider Toronto as having one of the best economic prospects along with a stable real estate market. They’re buying condos for their children going to school here as well as holding on to long term rentals. The 80’s trend of a fast turn-over purchase and sale is not as prevalent. Many of the condo suites are being bought and held over a long term to not only gain in appreciation but also as a safe haven for their investment.

Condos have continued to hold their value in the Toronto real estate market, especially in areas of the city that don’t have the density of buildings found in downtown. First-time buyers and those looking for a lifestyle change are considering a condo as an option for living in urban Toronto, with all it has to offer. As Toronto continues to grow, we’re seeing the Megacity trend that sees purchasing a house within the city becoming more and more unaffordable. For many of the new residents, having come from countries where apartment life was the norm, living in a condo makes sense. Young professional singles, couples and families are choosing a vertical lifestyle with established neighbourhoods surrounding the building, over moving to the Burbs where your only mode of transportation is a car. With kiddies in hand, they want to stroll to the local café for a cappuccino and drop into a yoga class. Walking their dogs along a busy street lined with shops and markets is more exciting than barren sidewalks in subdivisions.

Deciding on buying new or resale is a big decision. When purchasing a pre-construction condo, aside from being seduced with the model suite and all of the upgrades offered, there are a few things to keep in mind. There will be hidden closing costs added over and above your purchase price including levies to the Builder and interim occupancy fees until the building is registered. Parking spaces can range from $30,000 to $60,000 to purchase with lockers selling around $5,000. The average new condo has shrunk in size to approximately 750 square feet and sometimes even smaller. The High Park hood is seeing a number of new buildings coming into the fold. They include Daniel’s High Park Condominiums, The High Park by NorthDrive and The Address at High Park. This cool hood is only steps from Toronto’s largest parks, “High Park” as well as being a short walk to Bloor West Village’s boutiques, cafes, restaurants and markets. Just west of the Village between Bloor West and The Kingsway are another group of new luxury buildings going up called One Old Mill and Lanterra’s Riverhouse Condominiums at Old Mill.

For the Buyer that is looking for more space and would like to be able to immediately see what they’re getting, resale is the way to go. The maintenance fees will be higher than new buildings and can go anywhere from 60 cents per square foot to a dollar, depending on the age of the building and the amenities. One thing, the older buildings will come with is size, and that is drawing many families and downsizing buyers.

The west-end Toronto neighbourhoods have the benefit of being on the Bloor-Danforth subway line as well as tree-lined streets perfect for biking. In the Junction, the Heintzman Place Condos has its own car sharing program onsite for residents, called Option for Cars. Being green and not even having a car in the city, is becoming much easier. Converting lofts from churches, industrial buildings as well as factories are also attracting a young hip group of creative buyers that are looking to stray away from the norm and typical type of condo.

Urbanites choosing a vertical type of living are doing so with the surrounding neighbourhood in mind. They still have a wish-list and must-haves, but they might include a nearby park to run their dog, a great local café, fresh produce market, public transportation, a gym or yoga studio and daycare not far away.

Whether planning on a condo purchase for personal use or as a rental investment, vertical living in Toronto has certainly become a lifestyle choice that as real estate prices rise, will be here to stay.

Looking for help with your Condo Search?

Contact April Esteves at april@aprilesteves.com

Bloor West Village, High Park North, Lambton-Baby Point, Junction Area, Dovercourt-Wallace Emerson Junction, West Toronto Real Estate, detached, semis, townhouses

MARCH SOLDS

I have created a page for buyers and sellers who are debating on the W02 Treb district which includes such neighbourhoods as: Runnymede-Bloor West Village, Lambton Baby Point, High Park North, Junction, Dovercourt-Wallace Emerson Junction areas. These numbers show the MLS Listing activity over the past month of March in these areas. From this report you are able to see the numbers of properties that sold, the lowest to highest price, taxes, number of bedrooms & bathrooms and numbers of types that sold. If you are interested in a more detailed report or info on this area please email me at april@aprilesteves.com

SOLD STATISTICS

*Treb Stats

MARCH SOLDS

I have created a page for buyers and sellers who are debating on the W01 Treb district which includes such neighbourhoods as: Roncesvalles, High Park Swansea, South Parkdale, Riverside Drive & Brule. These numbers show the activity over the past month of March in these areas. From this report you are able to see the numbers of properties that sold, the lowest to highest price, taxes, number of bedrooms & bathrooms and numbers of types that sold. If you are interested in a more detailed report or info on moving to this area, please email April Esteves at april@aprilesteves.com

 SOLD STATISTICS

 *Treb Stats

*The W07 Treb neighbourhood called Stonegate- Queensway includes: Sunnylea, Norseman Heights, Springbrook Gardens,Thompson Orchard, Humber Bay within this area.

• The average sold price in the Sunnylea, Norseman Heights, Springbrook Gardens, Thompson Orchard, Humber Bay, Stonegate-Queensway area is down 4% from the same time last year
• Days on market is down 11% from last year
• % sold of list price is up 1% from last year
• Number of sales are down 26% from last year
• New listings on the market are down 31% from last year
• Active listings on the market are up 3% from last year

• The average sold price for a detached property in the Sunnylea, Norseman Heights, Springbrook Gardens,Thompson Orchard, Humber Bay, Stonegate-Queensway area is down 12% from last year
• % sold of list price is up 2% from last year
• Number of sales are down 5% from the same time last year
• Active listings are down 5% from the same time last year

• The average sold price for a Condominium property in the Sunnylea, Norseman Heights, Springbrook Gardens,Thompson Orchard, Humber Bay, Stonegate- Queensway area is down 40% from the same time last year
• % sold of list price is down 2% from this time last year
• Number of sales are down 75% from last year
• Active listings are down 20% from the same time last year

*Treb MLS Stats

The west-end Toronto neighbourhoods of Sunnylea, Thompson Orchard, Norseman Heights, Springbrook Gardens, Humber Bay & Stonegate-Queensway are seeing strong demand and low inventory. Interest rates are still record low, making this still an ideal time to make the decision to invest in real estate or making a move up!

Moving to west-end Toronto and would like help with your search? Contact April Esteves at april@aprilesteves.com

*The Toronto Real Estate Board district "W06" includes Mimico Village, Mimico by the Lake, New Toronto, Long Branch and Alderwood within this area.

• The average sold price in Mimico Village, Mimico by the Lake, New Toronto, Long Branch and Alderwood area is down 8% from last year at this time
• Days on market is up 10% from last year
• % sold of list price is down 2% from last year
• Number of sales are down 15% from last year
• New listings on the market are down 15% from last year
• Active listings still on the market are up 21% from last year

• The average sold price for a detached property in Mimico Village, Mimico by the Lake, New Toronto, Long Branch and Alderwood area is down 13% from last year
• % sold of list price is down 3% from last year
• Number of sales are down 29% from last year
• Active listings are up 2% from last year

• The average sold price for a semi-detached in Mimico Village, Mimico by the Lake, New Toronto, Long Branch and Alderwood area is up 8% compared to this time last year
• % sold of list price is down 1% compared to this time last year
• Number of sales are down 60% from this time last year
• Active listings are up 100% from this time last year

• The average sold price for a condo in the Mimico Village, Mimico by the Lake, New Toronto, Long Branch and Alderwood area is up 5% from the same time last year

• % sold of list price is the same as this time last year

• Number of sales are up 9% from last year at this time

• Active listings are up 24% from last year at this time

*Toronto Real Estate Board Stats

*The Toronto Real Estate Board district "W01" includes the neighbourhoods: High Park-Swansea, Roncesvalles, South Parkdale within this area.

• The average sold price in High Park-Swansea, Roncesvalles & South Parkdale is down 2% from last year at this time
• Days on market is down 5% from last year at this time
• % sold of list price is up 2% from last year
• Number of sales are up 13% from last year
• New listings on the market are down 35% from last year
• Active listings still on the market are down 18% from last year

• The average sold price for a detached property in  High Park-Swansea, Roncesvalles, South Parkdale area is down 6% from last year
• % sold of list price is up 1% from last year
• Number of sales are up 20% from last year
• Active listings are down 5% from last year

• The average sold price for a semi-detached in High Park-Swansea, Roncesvalles, South Parkdale is up 6% from the same time last year
• % sold of list price is up 8% from last year
• Number of sales are up 300% from last year
• Active listings are the same as from last year

• The average sold price for a condo in High Park-Swansea, Roncesvalles, South Parkdale is down 10% from this time last year
• % sold of list price is down 1% from last year at this time
• Number of sales are down 19% from last year at this time
• Active listings are down 19% from last year at this time

*Toronto Real Estate Board Stats

Toronto's west-end neighbourhoods of High Park-Swansea, Roncesvalles and South Parkdale are still seeing strong demand with low inventory of housing. Record low interest rates are making this still an ideal time to make the decision to invest in real estate or for making a move up!

If you are considering Buying, Selling, or relocating to the west end Toronto neighbourhoods, email April Esteves april@aprilesteves.com