Danforth area most searched neighbourhood for homebuyers in 2018
If you’re interested in the most popular areas for homebuyers in Toronto, look no farther than the east end strip of the Danforth, which came in as “the city’s most searched” last year, according to real estate data from Real Estate Wire.
Why is the Danforth so appealing? If you know anything about the strip, lovingly known as Greektown, you can be sure its family-friendliness and immediate access to transit scored big for people looking to purchase homes in the city.
“Transit and being in the urban hub is very appealing and the Danforth and around the Danforth is demonstrating that with probably half those areas (in the top 10 most searched list),” said Ian Martin from Real Estate Wire.
Runner-ups to the Danforth included the west end neighbourhoods of Trinity Bellwoods and the Rustic area, located near Jane St. and Highway 401.
“It’s people who are looking for more family housing,” continued Martin. “I think that’s the nature of people probably starting in an urban settling and then realizing that they’ve got to get a little bit bigger (home).”
In terms of the most sales growth from 2017 to 2018, Newtonbrook East in North York increased 153% based on median listing prices.
“That’s been an area where there’s been a lot of migration obviously just because farther out from the core, places tend to be a little easier (to afford) for people and it’s … a booming market up there,” Martin explained. “That’s a huge [increase].”
The type of housing people were looking for the most were three bedroom homes priced between $1.25 million and $1.5 million, according to The Sun.
“It tends to be people that are moving up,” said Martin. “People who started from condominium living, town homes can get into that pricing as well, and so they’re likely adding to their head count and growing their family and they need to look for that price point.”
Median condo prices in the city increased 9% to $545,000 while detached home prices went up 10% to $1.1 million over the year.
Real Estate Wire’s top 10 searched neighbourhoods are as follows:
2. Trinity Bellwoods
5. Weston-Pellam Park
6. The Beaches
8. Playter Estates-Danforth
9. Blake Jones