The Etobicoke real estate market has a vast range of housing options that include detached houses and condos. As a borough of Toronto, Etobicoke’s real estate trends reflect features such as the location along the shores of Lake Ontario as well as its eastern boundary of Humber River. The city is also known for its abundance of greenery as well as the slow-paced environment.
Real estate trends in this city also reflect its population which is mostly people between the ages of 25 and 44. Residents of Etobicoke also include families with no children.
Current average price of homes in Etobicoke is $1,124,600. This is a positive difference of 19.4% from prices a year ago. In the last 12 months, the average price of homes in this city has ranged from $1,038,330 to $1,361,970. The highest average price was recorded in March 2022. The lowest average price of homes was recorded in September 2021.
The trend of the prices of homes in Etobicoke in the last 10 years is also notable. The average prices of homes in this period have ranged from $430,199 to $1,320,620. The records available from 2013 till date show a gradual increase in the price of real estate in the city.
In the last decade, the average price of the different categories of homes has increased by $506,162 for townhouse condos, $570,482 for detached houses, $664,167 for attached houses, and $346,855 for apartment condos.
In the period between 2017 and 2019, average market prices remained steady with a minimal decline experienced. However, since 2020, prices have been on a clear increase.
Apartment buildings make up about 40% of the housing options in Etobicoke. Large apartment buildings hold condos of different sizes in this city. The other major housing option is single-family homes. About 60% of homes are owned while about 40% are rented.
The average price of single-family detached homes in Etobicoke is $569,132. This makes the average price of detached homes in this city more than most other parts of Toronto, $518,000.
Most recent findings show that condos in Etobicoke are selling for an average price of 653,752. This figure makes condo prices in this city lower than those of Toronto and the GTA, which are $716,976 and $682,280, respectively.
Details of the average rental costs across the city are also available. Studio condos go for an average of $1,400. One-bedroom condos go for an average of $1,715. Two-bedroom condos go for an average of $2,200.
You can find real estate listings across the different neighborhoods of Etobicoke, according to your preference. The city has over 20 neighborhoods, with the newer properties in neighborhoods like Mimico, Eatonville, Queensway, and Kingsway where condos are springing up. You will also find newly developed detached homes in these neighborhoods.
With the population of the city being fairly stable over the last 15 years and real estate springing up, you are sure to find your desired home from the range of available options.