The pandemic has been a turbulent time for real estate in the Greater Toronto Area (GTA) and Canada at large. Whether you’re contemplating purchasing your first new home or condo, moving to a larger home, downsizing, or investing in real estate, you’re likely interested in the market and in being kept apprised of the latest trends and developments.
According to the Toronto Regional Real Estate Board (TREB), total residential real estate transactions were down 18% last month compared to the year before (9,046 transactions in September of 2021, compared to 11,033 transactions in September of 2020), and total new listings were down 34% compared to last year (just 13,483 listings in September of 2021, compared to 20,441 listings in September of 2020). The sharp decline in listings and smaller decline in transactions shows that there is a lack of supply in the GTA real estate market, so it’s not surprising to see that the average selling price increased 18.3% year over year (for an average of $1,136,280 in September of 2021, compared to $960,613 in September of 2020). Listing days on the market have also decreased (14 days in September of 2021, compared to 16 days in September of 2020).
With new home and condominium prices on a steady upward swing – with no sign of stopping – the best time to buy real estate in the GTA is, as always, as soon as possible.
RBC’s latest Housing Trends and Affordability Report, which measures affordability based on ownership costs as a percentage of household income, rose to a 30-year high in the second quarter of 2021. In Toronto, the report shows that the share of income a household would need to cover ownership costs is, on average, 59.1%.
The share of income necessary to cover the costs of owning a single-family detached home in the GTA is rising rapidly, making this dream more and more difficult for families to achieve. Soaring demand for detached homes during the pandemic made these homes’ prices increase even more. Fortunately, owning a condo apartment continues to be a more affordable option for many families, young professionals, and empty nesters and downsizers. Semi-detached homes and townhomes are also great options that offer much more value than fully-detached single family homes.
The strong real estate market can make getting into the market a challenge, but is good news for home owners and investors. For those considering purchasing a home or condo, the time is now. Toronto’s real estate market is strong and will have many opportunities for sellers, buyers, and investors alike.
This weekend, the Grand Opening of Bartley Towns, BAZIS’ newest Toronto townhome community, is officially here. Bartley Towns is ideally situated at Eglinton and Victoria Park within an established residential neighbourhood and near an area that’s in the midst of a commercial and residential revitalization. It’s a great community and neighbourhood to invest in, and it’s now open for sale.
Everyone knows the number one rule and mantra of buying real estate: location, location, location. BAZIS prides itself on building in prime neighbourhoods throughout the City of Toronto, and Bartley Towns is no exception. This community of just 84 townhouses is located in close proximity to the DVP north and south highway and minutes away from the new Eglinton LRT, perfectly situating the community for ease of commuting and getting around Toronto.
Read on to learn why buying a Bartley Towns townhome is a great investment and all the details you need to know about the Grand Opening this weekend.
Making a Good Real Estate Investment in Toronto
When it comes to making a solid real estate purchase and investment in the City of Toronto, there are a few key factors that come into play:
Bartley Towns is a sure winner in the location department. The townhome community is located on Victoria Park just a bit south of Eglinton and just east of the DVP, 600 metres to the Sloane LRT stop and about a 10-minute walk to Eglinton Square. Eglinton Square is going through a major redevelopment, which adds to the “potential” quality. And BAZIS is a renowned, reputable builder known for building high-quality, luxurious living spaces with the utmost attention to detail. Location, quality and potential: check, check and check.
Let’s explore each category closer.
Bartley Towns’ neighbourhood is also known as Victoria Village or Victoria Park Village. This multicultural, diverse area features winding streets that are charming and pedestrian-friendly, and feels like a cozy enclave in the middle of the bustling City of Toronto.
The area’s quiet streets, well-maintained homes and large lawns make it welcoming and picturesque, and the neighbourhood is highly appealing to young and growing families. The community boasts numerous public and private schools (Bartley Towns has 17 schools within a 20-kilometre radius), libraries, community centres and parks with ample green space and walking trails as well as movie theatres, museums, grocery stores, and several public transit options, all of which add to the appeal for families. The neighbourhood also has an impressive 55 restaurants, bars and coffee shops, which makes it a great place to explore and to enjoy an evening out. Read our blog post “40+ Shops, Restaurants, and Amenities Near Eglinton and Victoria Park at Bartley Towns” to learn more about the many amenities close to home in this family-friendly neighbourhood.
Neighbourhood Walk Score
The neighbourhood also has a strong bike score of 57, an excellent walk score of 69 and a solid transit score of 68. Residents will benefit from the brand new LRT, which is scheduled to be completed by May 2022 (well before Bartley Towns move-ins begin). The Eglinton Crosstown LRT’s development and construction represents an $8.4 billion investment and is set to be a major Toronto transportation artery in the near future. Victoria Village residents can also take advantage of the 24-hour bus service along Victoria Park Avenue, which connects to the Bloor-Danforth subway line.
This prime location makes Bartley Towns a great community to invest in.
When investing in a real estate property, quality is also a key consideration. Choosing a house or townhouse built by a reputable builder with a long history of excellence is a safe choice to make sure you get the most value for your investment.
BAZIS has a long reputation of designing luxurious living spaces with the utmost attention to detail. Being able to successfully combine visionary architecture and design with marketing and construction has turned BAZIS into a reckoning force in pronouncing the city’s landscape.
The company is known for the unique architecture and high standards of luxurious finishes of its various residences. Knowing that each of BAZIS’ developments is crafted with exquisite design, superior location and elaborate amenities will give you peace of mind.
The potential of an area is also important, because you want to make sure that your investment will increase exponentially over time. While Victoria Village is an established community, it also has heaps of potential as it’s undergoing a period of major growth and revitalization. Nearby Eglinton Square is going through a major redevelopment, the brand new Eglinton Crosstown LRT is under construction and set to open in 2022, and the stretch along Victoria Park Avenue is undergoing a major period of commercial revitalization.
Bartley Towns’ Grand Opening Is This Weekend!
Bartley Towns represents a great investment opportunity and offers beautiful townhouses in a prime location that your family will love. The community is now open for sale, but act fast as there are just 84 townhomes available.
Interested in learning more about Bartley Towns? Explore our website to discover the home designs, explore the beautiful features and finishes, and to book your private appointment with our sales team today. You can also contact our sales rep John Ly at firstname.lastname@example.org or 416-639-8788 if you would like to make a virtual or in-person private appointment at our Sales Office (located at 250 Shields Court, Unit 1, in Markham). Signing of documents is available via DocuSign or in person. Deposits can be made via wire transfer or by bringing cheques to our Sales Office.
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