Toronto's Housing Market is Gaining Momentum in Certain Neighbourhoods

Earlier this week we released our August Market Report. In it we talked about the Toronto real estate market experiencing two distinct markets, being divided by property type and neighbourhood. While the Toronto Condo Market is at a standstill, with investors desperate to unload their smaller units that refuse to sell, one segment of the market is thriving.  Toronto's detached housing market is gaining momentum in key blue-chip neighbourhoods.

RE/MAX just released a 2024 Hot Pocket Communities Report, where Tim Syrianos highlighted the demand for detached homes in blue-chip areas of Toronto.

A 'blue-chip' neighbourhood in Toronto refers to a highly desirable, prestigious area known for it's strong property values. These communities are characterized by their high demand and limited inventory. Buyers are drawn to these areas because they often boast proximity to trendy shops and restaurants, parks, and top-rated schools. The areas that experienced the greatest sales gains in Toronto include;

• Dufferin Grove
• Little Portugal
• Trinity-Bellwoods
• Palmerston-Little Italy
• Niagara
• University
• Kensington-Chinatown
• Bay St. Corridor
• Waterfront Communities
• Oakwood Village
• Humewood-Cedarvale
• Yonge-Eglinton
• Forest Hill South
• Rosedale-Moore Park
• Leaside
• Thorncliffe Park
• Flemingdon Park
• Rockcliffe-Smythe
• Keelesdale-Eglinton West
• Caledonia-Fairbank
• Corso Italia-Davenport
• Weston-Pelham Park