North Toronto Neighbourhood Guide
Oct 9, 2012
North Toronto has always been one of Toronto’s most popular neighbourhoods. This year has been no exception as seventy-three houses and seventy-four condominiums have already sold ahead of what is expected to be a busy fall market and last quarter of the year. Mark Arnstein, sales representative, RE/MAX Hallmark, Ltd., Brokerage; is literally wired into this market with his popular website northtorontoliving.tv. Arnstein tells TorontoNeighbourhoodGuide.com that: “It is becoming a bit more of a balanced market in North Toronto, but still a little more of a Seller’s market.
The resale market for houses in North Toronto is still a tight and competitive market with very little inventory as families look to put down roots and stay for awhile. The lack of supply and constant demand for houses in this neighbourhood accounts for an average list to sale price ratio of 105%, one of the highest in the city. And you better act quick when one of these houses does come on the market as the average North Toronto home sells after just 11 days on the market. Semi-detached houses start in the $680,000 range and detached houses start around $750,000. With prices steadily climbing in this neighbourhood it is not surprising that 29 houses have already sold for over $1 million dollars this year. Arnstein points out the highest priced homes are “New homes featuring 4 bedrooms with high end finishings.”
A condominium purchase provides a more affordable entry into this uptown neighbourhood. The average North Toronto condominium unit sells for $547,000. One bedroom unit prices start at $350,000 and two bedroom units start at $425,000. The average list to sale price ratio for a North Toronto condo is 100%, with an average of just 22 days on the market. Arnstein offers the following advice to both condo and house buyers, “make sure you have your mortgage pre-approval in place and be ready to make a quick decision. Be sure to use an agent who knows North Toronto. That is most important in a successful home search.”
North Toronto is growing. New condo and town-homes are sprouting up everywhere and there is no shortage of buyers. This does not surprise Arnstein who points out the following North Toronto neighbourhood attributes. “The schools are absolutely amazing, there is a fantastic sense of community, great parks, shopping, restaurants and easy subway access.” What more can you ask for. North Toronto has it all.
North Toronto neighbourhood real estate updates provided by Mark Arnstein, sales representative, RE/MAX Hallmark, Ltd., Brokerage You can contact Mark direct at 416.930.6730 or by email: mark@markarnstein.com. Mark welcomes you to visit his website northtorontoliving.tv to learn more about his real estate service and the North Toronto neighbourhood.
* The information provided herein is compiled from source data obtained from the Toronto Real Estate Board. It is presented here for information purpose only. All data are subject to updates and revisions. The author assumes no responsibility for the accuracy of any information shown.
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