In 2014, the average price for a Toronto home was $610,554 according to the latest report from the Toronto Real Estate Board (TREB). It was a year where demand remained high, even as sales surged.
“The constrained supply of listings was especially evident for low-rise home types like singles, semis and town houses. The number of households looking to purchase these home types increased, while the number of homes from which they could choose decreased,” said Jason Mercer, TREB’s Director of Market Analysis.
A detached house in Toronto-proper remains highly coveted, but hard to find. It’s also prohibitively expensive for a number of home buyers. In 2014, the resale price for a detached house in the 416 averaged at $930,310.
We wanted to see where buyers were most likely to find a detached house below that price. While it’s unsurprising that many of the neighbourhoods are in Scarborough and northwest Etobicoke, according to MLS data, neighbourhoods closer to the core such as Danforth-East York and Oakwood-Vaughan still had more than a hundred detached homes sold below the city-wide average.
And while the condo-heavy core neighbourhoods of the city frequently measured zero detached home sales below the 416 average, Forest Hill South, known for its low-rise housing stock, counted 95 detached house sales last year, but not a single one was below $930,310.
Want to see more? Check out the interactive map and table below to learn more: