One of the best things about living in an area as densely populated as the GTA is that there are always options. You have literally hundreds of choices when it comes to selecting everything from a restaurant to eat dinner or a daycare for your kids and if you're willing to look for what you need you can usually find it. When it comes to buying a home you will find that you can get more for your money if you're willing to live outside of the downtown core of Toronto. Choosing Brampton real estate or a home in Ajax can also give you some different options when it comes to styles of homes.
In the past two weeks, about fifteen hundred homes sold throughout Toronto and the rest of the Greater Toronto Area. Just over six hundred of these were within the city limits and the rest were properties with a 905 area code. The average price for a home in the City of Toronto was just over $415,000 and the price in the rest of the GTA was closer to $410,000. This was for Halton Hills real estate all the way to homes in Burlington and Bowmanville.
While this doesn't make it seem like there is much of a difference between the cost of homes in Toronto and the rest of the GTA, the statistics paint a much different picture when you factor in the types of homes that were sold in January. More than seventy-five percent of the properties sold from Whitby Ontario real estate and other sections of the Greater Toronto Area were for single-family homes. On the flip side, only thirty percent of the home sales in Toronto were for detached properties. Nearly three hundred of the units sold in Toronto were condos and about seventy more were townhouses. Throughout the whole of the GTA not including Toronto only 137 condos were sold and 227 townhomes. This shows the major difference between Toronto and Mississauga listings, for example.
When comparing detached homes, Toronto has an average listing price of about $560,000 while similar homes in the GTA sell for closer to $500,000 or less. Condos are around the $330,000 mark in the city and $245,000 throughout the GTA. This major difference in price is why many people are choosing to work with Markham or Etobicoke real estate agents instead of their counterparts in the downtown core.
If you're deciding between a home in the city or one in a bedroom community around the outside than you should consider how much you're willing to pay for a peak location. Between the GO Transit system and all of the major highways that take you to downtown, maybe people are willing to take that longer commute in favor of much more space.
If you enjoyed this article about real estate options in the Greater Toronto Area interesting, you may be interested in learning more about condos in downtown Toronto.