Although exciting for many, this year was a rollercoaster for Etobicoke, a much sought-after area in the West end of Toronto. Average home prices ranged from $851,864 and all the way up to $1.04M. It’s had its fair share of ups and downs, perhaps reflecting what we have seen in so many communities this year.
This is not a cause to fret or worry. The prices are stable and affordable as the home prices have dropped to $1.01M, and this could be an opportunity to get a foot into one of Etobicoke’s more affordable neighbourhoods just outside of affluent gems like The Kingsway and Bloor West Village.
The market is rapidly recovering from COVID-19. For this reason, we don't expect prices in Etobicoke to stay this low for long. If living in the city is important, or being in communities with great schools, parks and shopping areas is important to your family, it may be a good idea to do your research before making any decisions about your next home.
The lack of listings and a lowered quantity of sales can lead to not only an influx of more buyers and sellers in the future, but also a drastic increase in pricing when it comes to certain types of homes. As mentioned above, it is always better to prepare and strategize with your Realtor and Mortgage Advisor as they track the real estate market, mortgage financing, and other regulatory changes that can have an impact on your future plans and actions towards getting that dream home!
Comparing the price graph which depicts the price flow from January to September 2021, it is certain that home prices will continue to rise in the upcoming months. As it stands, this proves to be a perfect opportunity for both home sellers and home buyers.
Whether buying or selling, there are certain preparations and steps everyone should take into consideration before moving forward on any decision that is life changing. This report could assist you in understanding the markets and give you what you need to start those preparations, or to finalize any currently underway to achieve the end result, home ownership in the upcoming months.
Enough about the numbers. As significant as they are, numbers will not make your mind up regarding where you want to: work, live, start a family, etc. Etobicoke with its low crime rates and good educational institutions is a perfect foundation to build your happily ever after. It is ideally located within 15 minutes of the Downtown core, Pearson International Airport, Lake Ontario, and so many transit options. Ready to make Etobicoke home?
If you'd like The askNina Team to be a part of your journey: Click here to contact us today!