Toronto
Toronto is a capital city of Ontario province in Canada. Toronto has so many green spaces, from an orderly oval of Queens Park to around 400-acre High Park & its trail, zoo and sports facilities.
As compared to the other cities of large North America, Toronto is a very safe city. Most families feel secure while wandering around in the city regardless of whether the sun is up or not.
Toronto is one of the amazing and greatest cities in the world to establish your business. So, if you have a good business sense then you should prefer Toronto. This Canadian city consistently ranks at the top when it comes to quality of life and innovation.
Real Estate Market Outlook for Toronto
Toronto is one of the most affordable cities in Canada. This affordability is due to their houses which are available at very reasonable rates. That’s why the real estate market of Toronto is very competitive.
Current real estate statistics of Toronto indicate an average housing price of $1,081,300. There are 4,763 in the last twenty-eight days. Toronto has 22 median days on average to sell a housing property.
Real estate market of Toronto is dependent on different construction styles in the city. Homes are quite affordable here but their rates are dependent on construction styles. Different construction styles are townhomes, condominiums and detached houses.
Townhomes are a type of terraced housing. Detached houses are isolated constructed houses. The last one, condominiums, are the complex housing properties with multiple residential units in which each unit is owned individually.
All of these construction styles are available in different areas of Toronto. It has an average sold price of about $1.1M. This price represents a monthly change of 5.5%, quaternary change of 5% and 1.6% yearly change in sold out prices.
Real Estate Market Analysis For Homes – October 2022
Different homes are available for sale at different prices in the city.
During October, detached houses have been comparatively more expensive than other construction styles. Two-bedroom detached houses are available at an average price of $1.1M. This was the same price about three months ago.
Three-bedroom detached houses available at average price of $1.3M. This price was $1.4 three months ago. These are at higher prices.
In the same month, a two-bedroom condominium apartment is available for sale at $888K. This price was $862K about three months ago.
In the same way a three-bedroom condominium apartment is available for sale at an average price of $950K. This price was $1.0M about three months ago.
At last, we have townhomes. During October, 2-bedroom townhomes are available for sale at an average price of $854K. This price was $920K about three months ago.
In the same, 3-bedroom townhomes are available at an average cost of $1.1M. This value was $1.2M about three months ago.
From this real estate data, it can easily be predicted that the most affordable homes in Toronto are condominiums.
