A popular tourist destination and located on the East-central district of Toronto. The Beaches is characterized by many independent specialty stores. The houses on the side streets take on a new Victorian, Edwardian large-scale style and some locations contain row-houses and low-rise apartments. The Beaches Real Estate escalate in recent and this has forced many working people to move to the further east.The residents are also privileged to have well-maintained housing stock.
This street is actual the most exclusive address and moving to this neighborhood is not cheap. Semis located on Queen have an asking price of $400,000. On the grounds of the old Greenwood Racetrack, mansions have been shown to rise quickly to the staggering $1 million. The neighborhood is also the best-developed piece of waterfront. All new housing projects have stocked retail ambitions. Indeed, The Beach is more like a lakeside resort that a big city neighborhood.The high cost of housing of The Beaches Real Estate has allowed the Toronto Real Estate market to take on a new turn and anyone wishing to invest in this location will not have a hard time location a property.
In social situations I am often asked “How’s the market?” Whoever is asking the question is most interested in knowing what the market is like in their neighbourhood. Quoting statistics that are culled from the entire Greater Toronto Area is meaningless to someone living mid-town. Since the late spring of 2012, the Toronto real estate market as a whole has shown there to be negative monthly variances in the number of sales between 2011 and the corresponding month in 2012. During the latter half of 2012, monthly sale numbers were down an average of 10.5% per month over the corresponding month in 2011. Ironically, most average sale prices continued to rise but the increases were smaller than in the corresponding months of 2011.
In spite of negative numbers, the market for a detached house in the 416 area code portion of Toronto is still very strong. The number of sales has declined 18% from the previous year and the average price for such properties has decreased by 4%. One reason for the lower average sale price is a decrease in the number of homes for sale priced at over $1,000,000. This must be weighed against the average time on the market it took all properties to sell, which is a healthy 30 days. Detached properties located in the 905 area code have seen an 11% decrease in sales and a 3% increase in average price.
An increase in the number of available listings has Buyers taking more time to make their purchases. However, they may still find themselves in competition for exceptionally desirable properties. Semi-detached houses show a similar statistical picture. Sales of properties in the 416 area declined by 13%, while prices rose by 4%. 905 semi-detached sales went down by 9%, while the average price rose 6%. Townhouse sales in area code 416 shrunk by 28%, while rising 5% in price. Area code 905 townhouse sales decreased by 6%, while prices increased by 1%.
The most common mistake that potential immigrants to Toronto make is to look for real estate in advance, before their arrival to Toronto. Without knowing the specifics of the city and the specifics of the Canadian real estate market, finding a good house is simply impossible. The real estate market in Toronto has its own specifics. In some other countries, the rich can live in the same areas as the poor. The main factors in the choice of a hosing there are the proximity to the centre of the city or a subway, as well as the size of the apartment.
The situation in Toronto is quite different. There is a clear gradation of good and bad areas. Some neighborhoods are more prestigious than others, each neighborhood has predominantly a particular ethnic group and a particular median income of people who live in them. If you look at Toronto from above, it resembles a patchwork quilt, sewn from a variety of areas. Moreover, this “patchwork” is observed on several levels. Without knowing and thoroughly understanding the reality of Toronto, it is simply impossible to choose a place where to search for property.
Let’s take, for example, an apartment in a condominium not far from the subway, on Yonge St., and at a relatively low price. It could seem a good option, at first. However, you should remember that in real estate if something sounds too good to be true, it really isn’t good. The reason why an apartment costs so little in such a prestigious area is that the building is very old and requires repairs. This is immediately reflected in the condo fee, which is 3 times higher than a fee in a new condominium. On top of that, the building can be only remotely related to condominiums as it had no amenities present in modern condominiums in Toronto – no pool, no gym, no room for parties, etc.
From your first glance at the photo, you’ve known this is it! Now you’ve taken the big step and walked through the front door, and it just gets better. Could this be the one that has captured your heart? Now, all you can do is envision your morning rituals. Time spent sipping your coffee while relaxing on your deck and dinner parties with friends gathering around that incredible kitchen island….now, let’s back up before we get to this incredible moment. Two out of three Canadian families own a home, which is one of the highest rates of home ownership in the world. While being a great personal investment, when it’s also your primary resident, you’re also talking about finding “home”.
You typically started out doing your research for properties either beginning on the internet, driving around looking for open houses on the weekend, checking out local hoods and perhaps talking to several real estate agents.Did you know that many properties for sale are never advertised or even have public open houses? When looking for a property in Toronto, you’re going to first want to define your financial possibilities through a formal pre-approval with your mortgage lender. You don’t want any surprises down the road. Nothing is more disheartening than finding out at the last- minute that you’ve been wasting your time looking at properties that are not in your price range!
Are you attracted to the older styled properties that you find in The Bloor West Village, High Park, Roncesvalles Village, or Swansea? Perhaps you’d prefer a newer property, but still want a mature neighbourhood.The best way to find that right property is to create a working relationship with a Realtor who acts as your Buyer Representative and legally represents your best interest.In addition to deciding on which neighbourhoods you’d consider, you should think about what you need in a property versus what you’d like to have.