Toronto is a vibrant and dynamic city with a thriving real estate market. As a homebuyer or investor, it can be hard to figure out how to get around all the different neighborhoods and decide which one is best for your needs and budget. To help you out, we’ve put together a guide to some of the hottest neighborhoods in Toronto that are seeing a lot of growth and development. Whether you’re looking for a trendy downtown condo, a family-friendly suburb, or an up-and-coming area with plenty of potential, these neighborhoods are worth checking out.
Queen Street West
Located west of downtown, Queen Street West is a trendy and artsy neighborhood that’s known for its independent boutiques, galleries, and restaurants. It’s also home to a number of young professionals and artists, making it a lively and diverse community.
In recent years, Queen Street West has seen a lot of new development, with many new condos and townhomes being built. It’s a great option for those who want to be close to the action but still want a little more space than what you’d get in a downtown high-rise.
The property at 905 Queen Street West in Toronto is a 170+ year old Georgian-style home that was built in 1847. It was the former home of a prosperous brewer, John Farr, and was designated a heritage property in 1992 by Toronto City Council. It is across the street from Trinity Bellwoods Park and has a cute blue door, a brick front, and pale yellow trim. The house is a beautiful example of Georgian architecture because it has been restored so well.
It has a tree-lined cobblestone pathway and a beautifully manicured garden. Inside, the house has beautiful millwork, herringbone hardwood floors, coffered ceilings that are 10 feet high, charming wallpaper, and arched doorways. Today, the building is used for modern business, with sleek offices and workspaces located throughout. It is near the Trinity Park Lofts tower and is protected by big trees.
The Junction
The Junction, in Toronto’s west end, was once primarily an industrial area. In recent years In the past few years, it has changed a lot. Many new restaurants, bars, and shops have opened, attracting a lot of young families thanks to its relatively affordable housing prices and proximity to good schools.
If you’re looking for a neighborhood that’s up-and-coming but still has a bit of a DIY, independent spirit, The Junction could be a good fit.
A semi-detached house in Toronto’s The Junction neighborhood that needs to be fixed up has been put on the market for $849,000. The three-bedroom, one-bathroom home, located at 538 Quebec Avenue, requires serious renovations and is being sold on an “as is, where is” basis.
It is located in a “hip and lively” neighborhood and is close to High Park, public transit, a library, recreational centers, and schools. It is over 100 years old and is described as a “blank canvas” for renovators and builders.
The house has cracks in the walls, missing chunks of plaster, plastic covering the windows, peeling cupboards, and a kitchen that looks like it could be used for a horror film set. The flooring is also heavily stained. The backyard also requires work. The average price of a semi-detached home in Toronto is currently over $1 million.
The Leslieville
Leslieville, located in the east end of Toronto, has long been a popular neighborhood for families, thanks to its good schools and friendly, community-oriented vibe. In recent years, it’s also become a hub for young professionals and artists, with many new restaurants, bars, and boutiques opening up. It’s a great option for those who want a more laid-back, neighborhood feel in Toronto but still want to be close to the city.
In December 2022, the average sale price for homes sold in Leslieville, Toronto, was $1.3 million, a 6.6% increase from the same month the previous year. 16 homes were sold in the neighborhood in December 2022, a 23.8% decrease from the same month the previous year. Homes were on the market for an average of 2days,ys and 31% of the homes sold for over the asking price.
There were 14 homes available in Leslieville in December 2022, a 44% decrease from the previous year. At the end of the month, there were 24 homes available for sale, a 140% increase from the previous year. Leslieville had 1.months’ worthhs of inventory of homes for the month of December 2022, indicating a competitive market that favors sellers. 6.5% of the homes sold in Leslieville over the past 12 months were bought by investors.
The neighborhood is known for its lively shops and restaurants, green spaces that focus on the community, closeness to the beach, and walkability. It is a popular destination for single young professionals, new families, and empty nesters.
The Danforth
The Danforth is in the east end of Toronto. It is known for its large Greek community and many restaurants, bars, and shops. It’s also a great option for families, with good schools and a variety of housing options. In recent years, it’s seen a lot of new development, with many new condos and townhomes being built. If you’re looking for a lively, diverse neighborhood with a strong sense of community, The Danforth could be a good fit.
Press Vinyl Café is a coffee shop and record store located in Danforth Village, Toronto. The store has a working Victrola and wood paneling on the ceiling that was repurposed from bookshelves. Trevor Stafford, who owns the store, has asked local artists to paint murals on the walls that are based on their favorite records. The store aims to be a community hangout that offers an “analog” experience. Danforth Village is located on the eastern part of Toronto and is known for its vibrant shops and restaurants.
The neighborhood has not seen the same rapid change and development as neighboring areas but is expected to see growth in the future due to its convenient location and transportation options. The average price for a detached home in Danforth Village was around $1.3 million in the second quarter of 2021, according to the Toronto Regional Real Estate Board.
The neighborhood is known for its mix of businesses, including humble storefronts, discount stores, and medical offices. It is also home to a diverse population, with many immigrants living in the area.
Tips for Homebuyers and Investors
When choosing a neighborhood in Toronto, there are a few key things to consider. Here are some tips to keep in mind:
Location: Consider how close the neighborhood is to amenities like schools, shopping, public transit, and the downtown core.
Housing prices: Research the average housing prices in the neighborhood to make sure it fits your budget.
Crime rates: Check the neighborhood’s crime rates to make sure you feel safe and secure.
Future development: Look for neighborhoods that are seeing a lot of new development, as this can be a sign of growth and potential appreciation.
Lifestyle: Think about your lifestyle and what you’re looking for in a neighborhood. Do you want a more urban or suburban feel? Do you want a lively, diverse community, or a more peaceful, residential area?
Arsh Syed, a real estate agent in Toronto, offers services to help property owners buy, sell, or rent their homes and manage the transaction.
He aims to establish relationships and provide exceptional service to improve the housing crisis in Toronto. By hiring him, property owners can reduce risks, save time, and save money.
For more information about his services, you can visit https://www.real-estate-in-toronto.com or contact (416) 844-2217.
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