A series of heat maps of Toronto based on Toronto Real Estate Board data provides a vivid picture of how the real estate market in this city has caught fire over the last decade.
In 2005, the map was mostly pale yellow, with splashes here and there of orange and red. In the extensive yellow areas, mainly Scarborough and North York and parts of the west end, a person selling his or her home would have had to wait more than thirty or even forty days for a buyer to come along. In a few central areas, mainly in hot neighbourhoods like the beach, Riverdale, Rosedale, the Annex and Bloor West Village, buyers showed up in less than twenty-two days after the listing appeared. In 2005, these orange and red areas stand out like patches of inflammation on a pale face.
Skip ahead to 2015. There are no more pale yellow areas on the map. The fire has spread to every district of the city, now coloured entirely in shades of orange and red, mostly red. From the centre of the city all the way east as far as the map goes, red dominates. In those areas, homes sold in under twenty-two days. Anyone with a home to sell, it seems, could sell it almost overnight. The city was on fire .>> full article
Looking to buy, sell or refinance? Know your options. I can help! Direct line: 416-219-6662
Comments