Toronto’s toughest real estate markets have absolutely nothing in common | Toronto Real Estate Blog

Here is an interesting prespective of Toronto’s real estate markets by Open File.

Toronto’s toughest real estate markets have absolutely nothing in common

While Toronto’s real estate market is growing rapidly, that broad description doesn’t apply to all parts of the city. Some parts sell very fast. Others, not so much. From the Toronto Star, we learn that the two slowest-selling parts of the city are about as different as you could imagine:

In realtor speak, they’re known as C12 (The Bridle Path) and W05 (Jane and Finch). And according to recent statistics released by the Toronto Real Estate Board it would take exactly 102 days to burn through the current inventory in both regions, if no more properties came on the market.

By comparison, it would take 36 days to sell off all the properties currently listed in (E02) The Beach and W02 (The Junction/High Park).

As one of the sources quoted in the story notes, this isn’t actually all that confusing. The two tail ends of the market—the very cheap and the very expensive—are both going to take the longest to sell. One thing that will probably help the Jane and Finch area will be the Spadina Subway extension, which may explain why a bungalow in a less-desirable neighbourhood was still listed for more than half a million dollars.

The real estate market is crazy enough that some people are opting out entirely, renting despite the ownership craze. This may make sense, as analysts continue to make dire warnings about the perils of home ownership in Canada.

Blog photo by Joe Lipson via Flickr.

 

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About Tariq Sultan
Dear Readers, I am a dedicated Toronto, Ontario based real estate professional who has been successfully meeting and exceeding the needs of his clients for past several years. I am actively involved in the insurance, financing, and mortgage industry. Real estate is not only my career – it is my passion. I strive to continuously provide my clients with exceptional service to ensure they are fully satisfied when it comes to their real estate needs. For any real estate related inquires contact me today, I will be happy to assist you. Best wishes, Tariq Sultan

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