How Much Do Toronto Homes Really Cost?

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Hello everyone, welcome back. Today we're talking about the latest headlines in Toronto that claim the average home in Toronto costs $1 million. Where are these statistics coming from? We're not quite sure, but we do want to provide you with the real average prices in different areas of Toronto, and it should help to explain how people are coming up with that figure.

In West Toronto, from Steeles down to the lake, the average price of a home is $534,157. The highest priced neighborhood in this area is Stonegate Queensway, with an average price of $778,000.
In East Toronto, from Victoria Park to Rouge River, the average price is $512,721. The highest priced neighborhood is South Riverdale, where the average home costs $709,754. 
Finally, in Central Toronto, with Differin to the west, and Victoria Park to the east, the average price is $757,272.

The highest priced neighborhood here is Lawrence Park North, where an average home costs $2,115,887.

We hope this puts a clear perspective on the recent news. While most areas in Toronto are priced well below the $1 million mark, there are neighborhoods, like Lawrence Park North, where the average price is so high, it brings up the averages of the other neighborhoods.

If you have any questions for us, we would be glad to help out. Give us a call or send us an email, and we will be in touch soon.

Some Common Misconceptions About Real Estate

 Buying a home? Click here to search all homes on the MLS 
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation
Many home buyers and sellers think that real estate agents only want to sell a home as soon as they possibly can, so that they can get paid sooner. While we can't speak for every agent out there, we can say that at the Aldo Udovicic sales team, we want to get you the best possible deal, but on your timeline.

We have a system that allows you to take up to a year to find the perfect property at the best price for your family. We are now selling homes to the 2nd generation of our clients, and our goal is to become your family's Realtor of choice. Your best interest is the only thought that comes into our head as we work with you to get your ideal home or investment property. 

If you are thinking about buying or selling, let us know. We have some helpful tools we'd like to share with you, and can't wait to tell you about them!

What's Happening with Mortgage Rates in Canada?

Buying a home? Click here to search all homes on the MLS
Selling a home?  Click here for a free home value estimate. 
Call us at (416) 438-2536 for a FREE home buying or selling consultation

Today I'll be speaking about what has been happening with the Canadian Mortgage Housing Corporation (CMHC), and what will be happening with our mortgage rates. 

I can remember in 1989 when interest rates were somewhere around 12-13%, and now in 2015 they're sitting at 2.75% for 5-year mortgages. 

This means that you have the opportunity to save $300-$500 a month, and thousands of dollars every year. These savings are phenomenal, and it's part of what has been driving the market. 

If you're selling your home and moving into another, you have the opportunity for a very financially successful transaction. The money you make selling your current home can be put towards your next one, lessening the financial blow of moving up into a bigger property. 

If you're looking to purchase a home, I recommend that you go out and get Pre-approved for a mortgage loan. This will narrow down your home search and allow you to find a good home quickly. Now is a very good time to buy, and you can lock yourself into a very low interest rate. 

If you need any assistance buying, selling, or investing in Toronto real estate, please don't hesitate to contact me. Please consider me your #1 resource for real estate in Toronto!