To Buy or Not to Buy? That is the question. While Canada-wide sales of existing homes fell 58% last month compared with the same time last year according to the Canadian Real Estate Association, it’s important to look at the complete picture. Number of sales is one thing, prices are another. Nationwide stats are one thing, city and neighbourhood to neighbourhood are another.
We’ve taken a look at the recent April HPI Benchmark Report from the Toronto Regional Real Estate Board, Altus Group which examines % changes in the benchmark over a specific period of time. Our findings were the following:
DOWNTOWN TORONTO
Communities which saw the highest % increase in their benchmark price for condominium apartments in C01, C02 and C08 (“Downtown Toronto”) from March to April 2020 (Covid Impact), in addition to ranking within the top 10 communities in all of Toronto as having the strongest increase in benchmark prices over the past 6 months, 3 Years, and 5 Years are (in order):
1. C08 – Cabbagetown – South St. James Town. Has a benchmark price of $615,200 with a 2.74% change. from March to April 2020.
2. C08 – North St. Jamestown. Has a benchmark price of $1,027,600 with a 4.10% change.
3. C01 – Palmerston – Little Italy. Has a benchmark condo price of $584,700 with a 1.94% change.
4. C08 – Regent Park. Has a benchmark condo price of $824,200 with a 4.13% change.
5. C01 – Kensington – Chinatown. Has a benchmark condo price of $614,200 with a 3.90% change.
6. C01 – Wychwood. Has a benchmark condo price of $565,000 with a 1.24% change.
7. C08 – Church-Yonge Corridor. Has a benchmark condo price of $730,500 with a 2.67% change.
8. C01 – Little Portugal. Has a benchmark condo price of $688,300 with a 2.43% change.
Not all prices are dropping. There are many price predictions out there. Stay informed and read the appropriate statistics.
XO Condos by Lifetime Developments – 2 Bedroom Unit – 920 sqft
kingxdufferin, where Toronto’s most exciting neighbourhoods intersect
LakeFront Condos By Concord Adex – #3101 – 1 Bedroom
The Historic 1928 Loblaw Warehouse restored into the LakeFront at Lake Shore Blvd. and Bathurst St
River & Fifth by Broccolini – 1 Bedroom
Located in the Heart of Corktown, Urban Oasis Minutes from East Harbour City Centre and Transit Hub, Financial Core, Riverdale Parks and Trails.
Liberty Market Condos by Lifetime Developments – 1 Bedroom
Liberty Market Tower Condos located at East Liberty St & Hanna Ave, Toronto.
ANX by Freed Developments – 1 Bedroom
The New Dupont begins right here in the Annex.
Garden District Condos by Hyde Park Homes – 1 Bedroom
Located on Shuter St, west of Jarvis St, in the heart of Toronto’s Garden District.
The Saint by Minto Communities – Studio
The Saint by Minto Communities will rise 47 storeys above Church & Adelaide.
MOST STABLE NEIGHBOURHOODS TO PURCHASE CONDOS. “COVID SAFE ZONES”
*Source: Toronto Regional Real Estate Board, Altus Group Greater Toronto Area rankings based on all communities within the GTA, April 2020.
GREATER TORONTO AREA
1. W05 – First Place.
Highest % in Price Increase March to April 2020. 4.66% Benchmark Price Range: $272,300 to $533,900
Neighbourhoods to buy in:
| Zone | Benchmark Price | (HPI) | One Month | 3 Years | 1 Year |
| Downsview – Roding-CFB | $533,900 | 361.7 | 4.66% Ranked 1st | ||
| Black Creek | $286,900 | 279.4 | 102.61% Ranked 2nd | 23.79% Ranked 3rd | |
| Humber Summit | $421,000 | 283.1 | 79.75% Ranked 3rd | ||
| Glenfield-Jane Heights | $272,300 | 212.8 | 67.03% Ranked 4th | ||
| York University Heights | $481,600 | 212.8 | 59.88% Ranked 4th |
2. C15 – Benchmark Price Range: $415,600 to $1,008,800
| Zone | Benchmark Price | (HPI) | One Month | 6 Months | 1 Year |
| Hillcrest Village | 1,008,800 | 289.6 | Ranked 2nd 4.66% | ||
| Henry Farm | $415,600 | 271.1 | Ranked 1st 17.66% | Ranked 2 24.13% | |
| Bayview Woods-Steeles | $923,900 | 244.8 | Ranked 2nd 17.13% | ||
| Bayview Village | $606,800 | 290.6 | Ranked 9th 15.59% | ||
| Pleasant View | $457,100 | 251.3 | 10.75% |
3. E11 – Benchmark Price $519,800
| Zone | Benchmark Price | (HPI) | One Month | 3 Years | 1 Year |
| Malvern | $519,800 | 362.1 | 3.87% | 57.16% |
Daniels FirstHome™ Markham Sheppard – 2 Bedroom Stacked Town Home – Casper Model
Virtual Tour: https://markhamsheppard.com/model-home-gallery/