TORONTO -- The frenzied pace of home sales that appeared at the start of the year is continuing to slow as new figures from the Toronto Real Estate Board show 13 per cent fewer homes in the region
These are the areas where Toronto home values have jumped the most
Dated: May 19 2021
If you bought a home in Scarborough just before the start of the COVID-19 pandemic you could be looking at a 25 per cent increase in value, a new report claims.
Toronto-based real estate brokerage company Properly laid out their findings Tuesday by way of an AI-powered home value calculator called “Instant Estimate.”
The results showed that the value of properties purchased in Scarborough, Etobicoke, and York in the six months before the onset of the pandemic appreciated the most, while homes in the Downtown core appreciated the least.
“Real estate is hot everywhere in Toronto, but with Downtown dwellers looking for more space and more affordability, home values in areas on the outskirts of the city have seen the greatest appreciation,” the company said in a news release.
According to Properly, the median sold price of a house in Scarborough between September 2019 and February 2020 was $710,000. Fast forward to May of this year, you’d have to shell out some $915,000 to afford the same property.
Conversely, the median sold price for a property in Downtown Toronto was $680,000 in the months before the pandemic arrived. Now, that same property is worth $721,709, representing an increase of about eight per cent for the area.
Properly Co-founder and CEO Anshul Ruparell said that the while most homebuyers would have preferred to be close to the Downtown core in the past, attitudes have shifted as the pandemic drags on.
Robert started in Real Estate over 20 years ago as a Real Estate Investor, building a portfolio of real estate. His passion for real estate and his experience as a licensed mortgage agent has helped h....
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The rapid rise in housing prices during the pandemic has surprised homebuyers and sellers alike. A related development was that the price appreciation has been uneven, with gains in small towns
If you bought a home in Scarborough just before the start of the COVID-19 pandemic you could be looking at a 25 per cent increase in value, a new report claims.Toronto-based real estate brokerage