Bloor West Village and the surrounding areas are some of the most in-demand neighbourhoods to live in in Toronto. From shops and restaurants on Roncesvalles to strolls in High Park and Swansea and bars and green grocers on Bloor.
Have you ever been curious about where the area stacks up against the rest of Toronto? As a seller, are you wondering how much homes are worth? As a buyer are you looking to find an area that fits your budget?
Here’s a snapshot of where things are at for the year so far, up to March.
In total, there have been 138 properties sold in Bloor West/High Park/Roncesvalles and an additional 187 just north in the Junction.
Compare that to Riverdale (206), The Beaches (166), Mimico/Alderwood (337) and further to the west Islington/Etobicoke West Mall (403) and you’ll notice that there simply hasn’t been a lot on the market in our neighbourhood.
These numbers mean that sellers are winning! With less inventory, there’s way more competition to land one of the few available homes in the area. For buyers it means having to dig a little bit deeper in their pockets, more bidding wars and prices jumping well above asking.
Looking specifically at detached homes that sold last month in these five areas, you can see that trend continuing.
Bloor West/High Park/Roncesvalles
Detached homes: 17
Average price: $1,517,912
Detached homes: 27
Average price: $1,208,689
Detached homes: 17
Average price: $987,412
Detached homes: 40
Average price: $753,162
Islington/Etobicoke West Mall
Detached homes: 76
Average price: $1,194,466
That’s more than a 300k difference in price compared to the Beaches and an almost 765k difference compared to Mimico/Alderwood. Wow!
Yes, these areas are all very different but when it comes down to it, because of the easy access to the downtown core, public transportation, the Lake and the airport, demand will always outweigh supply.
If you’re curious to take a closer look at the different neighbourhoods in Toronto, you can find all of this info and more in the Toronto Real Estate Board’s Market Watch report for March.
Looking forward to seeing what April and May bring as the spring market really heats up.