Broken record right? This is a trend that we saw coming from a mile away. As Buyers get priced out of detached and semi-detached houses they are running to the Townhouse in droves and driving prices up. Way up.
You can buy a basic townhouse in Toronto from West to East for just about $500K but the Beaches blows that out of the water with demand pushing prices up to over $700K for a townhouse. So if you’re willing to swap the yard space for a roof top patio a townhouse might be an option for you as we progress into 2015.
Listen, we’d love to get you that detached house but if you’re not willing to compromise on neighbourhood (like consider Birchcliffe instead of Leslieville) you’re going to pay close to a million dollars for something fully renovated. You can get a detached fixer upper for less but it’ll cost you hundreds of thousands in upgrades. There’s some good shit happening in Mimico so check that out too.
Things may be up across the board but YOUR house or condo might be up higher or down so take 2 seconds to fill this out to get hyper local SOLD statistics. (like what your neighbour’s house sold for!)