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Toronto Houses For Sale

Toronto Houses For Sale

Know Your Options, Price Trends, and Roles as a Real Estate Agent

Toronto is a beautiful, well-kept city that nearly anyone would enjoy living in. If you’re just getting started in looking at homes for sale in Toronto, you’ve come to the right place. We’ve put together a few things to know when looking at Toronto Real Estate properties. 

Toronto Real Estate Housing Options

Due to how Toronto is structured, there are many available condo and townhome real estate options available in Toronto. There are several free-standing homes and larger estates too, though not as many options. You will notice very quickly that location means everything in the Toronto Real Estate market. There are options available to meet a wide range of budgets. 

Condos in Toronto Real Estate:

  • You can buy a 1 bedroom 1+ bath condos for less than $200,000 all the way up over $1,000,000! The most common price points are between $550,000 to $850,000 though. 
  • Two bedroom 1+ bath condos are typically found at around $200,000 to $650,000.
  • Three bedroom 1+ bath condos are plentiful in the Toronto real estate market. They are available for as low as $225,000, but are typically priced around $500,000  to $800,000. It’s not uncommon to find these available for over $1,000,000 too!
  • There aren’t many 4 bedroom 2+ condos for sale in the Toronto real estate market, but there are a few that may suit what you’r looking for. A condo of this size typically starts around $400,000 and go up from here. You may find a decent one for less, but those are rare! 
  • Like most real estate markets, the more bedrooms you need, the less options there are. This is the case for condos and can be found for as low as $500,000, but the majority of these are going to cost more. 

Townhomes in Toronto Real Estate:

Though not as plentiful as condos, the Toronot Real Estate market provides a nice selection of townhomes. Like we mentioned above, it’s not about the size or how many bedrooms there are as it is about the location of a townhome. 

  • There are a few 1 and 2 bedroom townhomes, but the bulk of these are usually for 3 bedrooms and up! Occasionally, you will find a townhome for less than $400,000. While you can find townhomes available between $400,000 to $800,000, the bulk of these homes are listed between $800,000 to over $2.7 million.

Detached Homes for Sale in Toronto Real Estate

  • Houses in the Toronto real estate market are plentiful, though they aren’t the most common home option. Houses usually have at least 3 or more bedrooms and 2 bathrooms, though you can find a few 2 bedroom 1 bath homes available. 
  • Most yards that come with houses in the Toronto real estate and small, which is great, because there’s not much maintinance required. 
  • Sometimes you can find a house for sale in Toronto for as low as $650,000, but if you’re looking for a home that is move-in-ready, you’ll need to expect to pay more. It is not uncommon for houses to be listed for $1,000,000 or more. 

Toronto Real Estate Price Trends

Did you know home prices are on the rise? Since last year, condos are up 8%, Townhouses are up 18%, and Detached homes are up 26%! This means it’s a great time to buy or sell a home in the Toronto real estate market! Let’s break this down to share why:

  • The inventory of homes for sale in Toronto is high and properties are averaging about 15 days on market.
    • This allows buyers to find the perfect home to suit their needs and not settle on something because it’s the only thing out there.
    • Sellers know their home will sell quickly and they aren’t afraid they won’t find something else to fit their lifestyle. 
  • Though prices may dip or rise, depending on the time of year, there has been an overall steady increase in the price homes are selling at for quite a while now. 
    • This gives confidence to the homebuyer in that whatever is bought, in just a short period of time, their home will be worth more than they originally paid for it. 

Roles as a Real Estate Agent

There are several types of agents that work in the Toronto Real Estate industry. Depending on what you need to do, will determine what type of agent you need to use. 

  • Buyer’s Agent represents pre-qualified buyers in purchasing a home. They will schedule showings, present purchase offers, sometimes conduct open houses, and have the buyers best-interest in mind. 
    • A buyer typically does not pay an agent directly for their service. Their comission is usually included in the price of the home. 
  • Seller’s Agent represents a person selling their home. They will advise and help sellers prepare their home to sell, take care of professional pictures and possibly video for the home’s listing, list the home for sale, and has the seller’s best interest to the sellers. 
  • Leasing Agent is in charge of leasing or renting a property to a tenant. The conduct meetings to explain lease terms, collect proper paperwork and deposits, and work with current tenants to discuss and changes to the lease.
  • Commercial Agent can have many roles. Because commercial real estate covers sales, leasing management, investment, or improvements of commercial properties, commercial agents often conduct several roles that oversea all of these aspects. 
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