Etobicoke Real Estate Price Trends

By: Leaftech

Etobicoke real estate prices are definitely following the reported trend of the Greater Toronto Area, that being a notable and steady climb since the fall months of 2005. Taking a closer review of 2005 and 2006 real estate in Etobicoke, there is a slight difference in prices from North Etobicoke to South Etobicoke with North Etobicoke sitting slightly higher, although housing prices have increased in both areas.

Starting in October of 2005, North Etobicoke real estate in the price range of $375,000 went to $387,000 by July of 2006 and closed out in October of 2006 at $389,000. The change over one year was an increase of 3.7%. For this same time period South Etobicoke experienced a 1.4% increase in real estate pricing. Homes in the $365,000 price range during October of 2005, increased to $380,000 by July 2006 and finished in October of 2006 at $370,000.

The general trend has seen a repeating cycle of an average price increase in late winter/early spring with peaks in March, May and June. The summer tends on average to move into a slight decrease with a definite increase as the fall season arrives and a cyclical decrease in the early winter months. Most notable is that the highest prices tend to be in the spring with January sales sometimes bringing in the New Year on an upswing. On average the market generally reaches its springtime swing from March through to June.

The 2007 spring season continues to hold the promise of maintaining pricing increases comparable to the past several years.

According to the Toronto Real Estate Board, "The Greater Toronto Area's resale housing market has showed sustained strength and these phenomenal numbers bode well for the remainder of this year's spring market."

Typical Etobicoke listings include: a beautiful open concept four level, brick executive townhome for $448,800, a spacious bungalow for $339,000 in gorgeous 'Kipling Heights' with waterfront views or a luxurious 3 bedroom home with 2 solariums and a direct panoramic view of Lake Ontario for $899,000.

Etobicoke's housing selection in the price range of $100,000 to $270,000 offers a diverse choice of apartment style condo living. Executive condos with larger floor space, building amenities and upgrades are at the higher end of $275,000 and up, as high as $650,000. Detached single-family accommodations exist in a price range from $275,000 to $600,000 with a tremendous selection in the $300,000 to $350,000 price range. Executive real estate or real estate that is located in picturesque parts of a city with lakeshore or green space views or easy downtown access will always come at a premium.

For either potential real estate sellers or purchasers the news remains encouraging. According to the Toronto Real Estate Board, "overall price increases are holding at marginally above the inflation rate, which means that potential first-time buyers are not being pushed out of the market." The average market price has climbed three percent in April and there is substantial evidence in the market trends that a 3 to 4 % increase will potentially remain for the peak selling periods in 2007.

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