The Lowdown on East York

Your Typical Neighbour

Increasingly your neighbours are newer Canadians or young families embracing a realistic entry point into home ownership. There remains a chance that once you join the hood, the senior holdouts a couple doors down will reward your kids at Christmas for some help shovelling over the winter!

What We

For those with a starter-home budget this is one of the best areas to look in. Finding this kind of variety in one neighbourhood is hard to do in the city. Especially with a commute to the downtown that is this short.

What We Don't

Walk and Transit scores are 74 and 78 respectively. This is not the most pedestrian-friendly neighbourhood in Toronto, but the prices reflect it.

Post-war bungalows with large front yards, relatively lengthy driveways and room for a garden out back were the preference of the day when the building boom was happening in East York. Occurring in stages between the 1890’s right through to the early 60’s, the breadth of real estate offering in this neighbourhood is unusually widespread. Generally speaking, the farther north you get away from the Danforth, the smaller the houses are.

Various styles of house occur here, and the gap in price point is wide. Older apartment sales here can find you looking at a two bedroom listed below $200k. Stop rubbing your eyes. Yes. BELOW $200k. The condo fees will likely be higher than you’re expecting in what is likely an older build, but these prices are attractive to first timers who will still likely see modest growth over a couple years of living here.

More common detached bungalows, and detached or semi-detached story-and-a-half or two-story houses can be found in varying states of repair from less than half a million dollars to well into the 7 figure range for rebuilds that have replaced older dilapidated homes. The lower price point that exists in this neighbourhood has made it attractive to renovators, and that is translating into beautiful turn key opportunities for people looking for their second or perhaps forever home relatively close to the Downtown...but without Riverdale or Cabbagetown budgets.

If you’re a flipper or handy first-time buyer, this is one of the city’s renovating hotspots. Drive around the neighbourhood and you’re struck by the contrasts, with a string of bungalows a row, projects under various stages of construction, and then the occasional large new-build where the original house was torn down. Moving forward, expect these rebuilds to become the norm rather than the exception.

HOUSE STATS

2013 2014 2015
AVERAGE PRICE $578,321 $647,235 $706,441
PRICE: Low-High $219,900-$1,400,000 $292,000-$1,445,000 $325,000-$1,580,000
AVERAGE DAYS ON MARKET 15 13 11
# OF SALES 616 701 599

CONDO STATS

2013 2014 2015
AVERAGE PRICE $225,949 $255,892 $198,794
PRICE: Low-High $110,000-$1,040,000 $118,000-$1,000,000 $123,000-$314,000
AVERAGE DAYS ON MARKET 32 27 18
# OF SALES 119 99 110

Area: 2km

Population: 16,710

Demographics

Kids: 16%

Youth: 9%

Seniors: 14%

Visible Minority: 27.6%

Average Family Income: $77,821

Education

Lower Education: 38.6%

Higher Education: 6.2%

Home Ownership

Owned Homes: 51%

Tenanted Homes: 49%

There are a LOT of schools in this area, commensurate with the influx of younger families over the last number of years.

ELEMENTARY SCHOOLS

R.H. McGregor
St. Brigid Catholic School
Earl Beatty Junior and Senior Public School
Wilkinson Junior Public School

East York is only a 15-minute drive to the downtown core - short for the value you can find here. And almost all of the North-South arterials offer bus service to connect you to the Bloor-Danforth Subway.

About East York

Before Toronto became a “megacity”, in 1998, East York was known as Canada’s only borough. Located just near the mouth of the Don River, East York borders Scarborough to the east, Old Toronto to the west, and North York to the north.

Money Sense, Canada’s go-to personal finance website, voted East York as #21 of Toronto’s ’25 Best Neighbourhoods to Invest in’ in their feature ‘Best Deals in Real Estate 2016: Toronto’. It’s proximity to open green space, local tourist attractions like the Ontario Science Centre, pastoral residential streets, and positioning close to local schools, make East York a natural selection when looking for a new home.

Homes in the East York neighbourhood, like most Toronto neighbourhoods, have seen a steady rise in pricing. The clear attraction to the neighbourhood can be seen in its abundant selection of post world war 2 bungalow-builds – which offer an excellent opportunity to get into the market and glimmers of hope for renovation-favourers. It’s hard not to be drawn to the quiet, community-oriented, feeling of this eastern area of the city. The rare ‘town-like’ feeling of East York brings together a diverse and tight-knit community – bound by their mutual appreciation of peace and quiet.

 


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