Realosophy Team in Top Ten Neighbourhoods, Toronto Real Estate News, Home Buying, Home Selling
We're back with our annual Hottest Toronto Neighbourhoods list (Best Toronto Neighbourhoods for Price Appreciation). The Realosophy Analytics team is always happy to return
to the dance that brought us here - our pioneering approach to tracking house
trends and other analytical data at the neighbourhood level.
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Heat Map: Toronto Neighbourhoods by House Price Appreciation, 2011 to 2012
Map Instructions: On upper right hand side of map, click on green tab on box to hide legend. On upper right hand side of map, click on box to expend legend.
Central Toronto Houses Hot
Seven of our top ten neighbourhoods are in central Toronto (west of DVP and east of Dufferin). In one half of the tale of two cities (the other being the gossamer that is Toronto's condoland), strong demand from urban families, coupled with a finite number of houses in central Toronto, means higher prices.
And in neighbourhoods offering detached houses or top schools, the appreciation is significant. The neighbourhoods on this list have appreciated 21% to 27%, well above the citywide appreciation rate of approximately 6%.
Almost one in four properties in Toronto sold for "over the asking price" in 2012 - a striking number as this is an indirect way to assess multiple offer activity. Half of the neighbourhoods on our list rated above the city average with 37-52% of properties selling "over asking."
Inner Burbs Rise
A handy catch-all, the ?urban family? actual encompasses several profiles. The New Urban (Nuburban?) family wants to ditch the commute, but not the detached house, larger lot and green lawns. This family sacrifices space, which they prize, and could buy more of in the outer suburbs, to gain time. These preferences are driving up prices in some inner burb (Etobicoke, North York, East York) neighbourhoods - see Islington Village, Parkwoods and Victoria Park Village on our list.
Luxury Redefined
The Established Urban family drives demand in upper-end neighbourhoods like Allenby, Caribou Park, Rathnelly and Casa Loma on our list. They value the pedigree of the neighbourhood, larger houses and local schools, rather than their urban features per se, but do appreciate excellent subway access and top quality main streets.
Long-standing luxury neighbourhoods - Forest Hill, Bridle Path and Teddington Park - start on higher ground so it's rare to see them on "best appreciation" lists - so while Forest Hill makes our list, it's important to note that a handful of super luxury sales can skew the average.
Urban Beauties
Core Urban families value the "urban" in urban living - diversity, access to bike lanes and public transit and walkable main streets. These preferences lead them to lead boldly in less economically established areas in very downtown locations, unfazed by the prospect of shared walls - think Dufferin Grove and Trinity Bellwoods on our list. These consumer preferences are at the core of Toronto?s urban revitalization trend of the past 10 years and counting, a period which may one day be seen as seminal in our city's history.
Understanding the Data
- Yellow Circle - Year over year change in average house prices from 2010 to 2011, calculated by Realosophy Analytics, based on Toronto Real Estate Board (TREB) Data
- Avg. Price - Average house prices in 2010 and 2011, calculated by Realosophy, based on TREB data
- Multiple Offer Activity - Indirect measure based on percentage of houses sold over the asking price in 2012, calculated by Realosophy, based on TREB data
- Housing Breakdown - Sales by type of House in 2012, calculated by Realosophy, based on TREB data
- Walkability - As calculated by Walk Score
- Top Schools - Area public schools with "A" ranking in 2012-2013; Average scores of 90 and above calculated by Realosophy Analytics, based on Education Quality and Accountability Office (EQAO) test scores as reported by the Ontario Ministry of Education (Note: Our averages include all test scores with the exception of High School Math for which Academic Math is included but Applied Math is not)
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1. Allenby (Central) See Current Houses for Sale in Allenby
Avg. Price 2012: $1,074,630
Avg. Price 2011: $846,534
Multiple Offer Activity: 52%
Housing Breakdown: 100% Detached
Walkability: 72/100
Popularity Points:
- Good elementary and high schools
- Detached houses
- Walking distance to great shops and restaurants on Eglinton
- Short walk to the subway
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Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Allenby
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2. Caribou Park (Central) See Current Houses for Sale in Caribou Park
Avg. Price 2012: $942,877
Avg. Price 2011: $745,408
Multiple Offer Activity: 17%
Housing Breakdown: 74% Detached, 26% Condos
Walkability: 63/100
Popularity Points:
- Large 4-bedroom detached houses
- Between Lawrence (Yonge subway line) and Lawrence West (University subway line) stations
Full Neighbourhood Profile for Caribou Park
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3. Islington Village (West) See Current Houses for Sale in Islington Village
Avg. Price 2012: $611,917
Avg. Price 2011: $490,361
Multiple Offer Activity: 9%
Housing Breakdown: 50% Condos, 43% Detached, 3% Condo Townhouse, 3% Row/Townhouse, 1% Other
Walkability: 38/100
Popularity Points:
- Good schools
- Excellent proximity to Islington subway station
- Islington Golf Club located in centre of neighbourhood
- Many condos close to Bloor
- Detached bungalows and 2-storey houses closer to Rathburn
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Islington Village
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4. Dufferin Grove (Central) See Current Houses for Sale in Dufferin Grove
Avg. Price 2012: $873,853
Avg. Price 2011: $703,408
Multiple Offer Activity: 54%
Housing Breakdown: 48% Semi-Detached, 28% Detached, 12% Row/Townhouse, 10% Condo Townhouse, 2% Condos
Walkability: 92/100
Popularity Points:- Spacious houses offering good value given proximity to downtown
- Dewson and Ossington-Old Orchard schools
- Dufferin Grove park
- Dundas and College West rapidly changing and improving
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Dufferin Grove
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5. Forest Hill (Central) See Current Houses for Sale in Forest Hill
Avg. Price 2012: $1,294,297
Avg. Price 2011: $1,054,733
Multiple Offer Activity: 17%
Housing Breakdown: 56% Detached Houses, 27% Condos, 12% Co-Op, 3% Semi-Detached, 2% Row/Townhouse
Walkability: 63/100
Popularity Points:- One of Toronto?s most luxurious neighbourhoods
- Nearly 40% of sales in 2012 were condos
- Good quality elementary and secondary schools
- Home to top private schools, Upper Canada College and Bishop Strachan School
Top Elementary Schools:
Top High Schools:
Full Neighbourhood Profile for Forest Hill
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6. Rathnelly (Central) See Current Houses for Sale in Rathnelly
Avg. Price 2012: $869,401
Avg. Price 2011: $710,149
Multiple Offer Activity: 18%
Housing Breakdown: 57% Condos, 39% Semi-Detached, 5% Detached
Walkability: 83/100
Popularity Points:- Short walk to Dupont subway station and to Yorkville neighbourhood
- Brown Junior School District
- Close to half of sales in 2012 were new condos on Macpherson; rest mainly semi-detached
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Top Elementary Schools:
Full Neighbourhood Profile for Rathnelly
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7. Trinity Bellwoods (Central) See Current Houses for Sale in Trinity Bellwoods
Avg. Price 2012: $802,706
Avg. Price 2011: $656,268
Multiple Offer Activity: 41%
Housing Breakdown: 40% Row/Townhouse, 32% Semi-Detached, 17% Detached, 6% Condo Townhouse, 5% Condos
Walkability: 90/100
Popularity Points:- Proximity to Downtown and Queen West
- Mainly single family homes - row houses and semi-detached
- Trinity Bellwoods park
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Full Neighbourhood Profile for Trinity Bellwoods
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8. Casa Loma (Central) See Current Houses for Sale in Casa Loma
Avg. Price 2012: $1,182,560
Avg. Price 2011: $968,437
Multiple Offer Activity: 37%
Housing Breakdown: 50% Detached, 23% Row/Townhouse, 17% Condo Townhouse, 10% Semi-Detached
Walkability: 80/100
Popularity Points:- Walking distance to Dupont and St Clair West subway stations
- Spacious detached houses
- Very close to downtown
- Short walk to Wychwood Barns
9. Parkwoods (Central) See Current Houses for Sale in Parkwoods
Avg. Price 2012: $554,318
Avg. Price 2011: $454,074
Multiple Offer Activity: 39%
Housing Breakdown: 46% Detached, 33% Semi-Detached, 19% Condos, 1% Condo Townhouse, 1% Other
Walkability: 67/100
Popularity Points:- Detached houses on a wide 50-60? lots
- Good access to DVP and 401 highways
Top Elementary Schools:
Top High Schools:
?Full Neighbourhood Profile for Parkwoods
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10. Victoria Park Village (Central) See Current Houses for Sale in Victoria Park Village
Avg. Price 2012: $428,406
Avg. Price 2011: $355,028
Multiple Offer Activity: 19%
Housing Breakdown: 38% Detached, 37% Condos, 13% Semi-Detached, 9% Condo Townhouse,? 3% Row/Townhouse, 1% Other
Walkability: 65/100
Popularity Points:- Detached bungalows on wide 50? lots
- Affordable condos
- Good access to DVP and 401 highways
?Full Neighbourhood Profile for Victoria Park Village
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