Many people have different opinions when it comes to the best neighborhoods in Toronto. Many young professionals have their own preferences, while senior citizens, families with children, and new immigrants also have their own standards. But even within these different demographics there are differences of opinions because… well, they’re opinions. However, when it comes to desirability in the Toronto real estate market, you can check the facts instead.
There’s a quantifiable metric known as “days on market” (DOM) which you can consult to see which neighborhoods are the most desirable. The DOM tracks how many days a house is listed for sale until it’s snatched up a buyer.
The average DOM for Toronto is 16 days, which pretty much indicates that houses in the whole city are very much in demand. However, in some neighborhoods the DOM is only 8 days. Some of these neighborhoods include:
The Junction
A lot of cafes, bars, and restaurants are cropping up in this area to serve the needs of the younger professionals who are flocking to the neighborhood. This location has Dundas Street West and Keele Street as its main intersection. It has a rich history that fascinates the residents, and its current atmosphere is extremely vibrant with lots of art and unique design shops.
Davenport Village
This is a quiet neighborhood that many families like and many find the modest single-family houses here reasonably priced. Its central location offers a nice proximity to downtown Toronto and there’s convenient public transit.
Baby Point
This is a residential area in the York District, located on a peninsula of land that overlooks the Humber River. Just make sure you pronounce the name of the place as “Bobby Point” if you’re going to live here. It’s among the most gorgeous settings in all Toronto, and in the fall lots of anglers as well as curious onlookers gaze upon the sight of hundreds of salmon trying to jump the weir in the river.
Junction Triangle
In recent years, this neighborhood has begun a major revitalization process. Many of its former industrial properties have been converted to or replaced by townhomes and residential lofts. Lots of developers have increased their interest in the area due to its nearness to High Park, which is perhaps the most famous of all the parks in Toronto. The redeveloped Junction Gardens shopping district also increases the neighborhood’s appeal, as well as the easy access to the Bloor subway line.
Bloor West Village
The demand for a home in this area is quite high among families. That’s because of the presence of so many terrific schools in the neighborhood. What’s more, if you live here you can just walk to High Park. The retail district in the area also attracts lots of shoppers in the city.
The Stockyards District
You find this area at the west end of the Junction, which makes it close enough to get to the downtown area in just few minutes. But it’s a nice quiet place with lots of big box stores and tiny boutiques, bars and restaurants, and various unique entertainment places at night. You also have numerous easily-accessible streetcars, plus bus and bike lanes.
Then there are the parks. There’s the Upper Junction Park with a jungle gym and playground. Maple Clair Park has a playground and splashpad. Runnymede Park offers a baseball diamond, tennis court, playground, and wading pool. If you have kids, all these places will make your kids (and you too) happy.
If you’re planning to buy a property in any of these areas, you better be quick!