Toronto's Hottest Neighbourhoods - 2016

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With Toronto’s real estate market getting off to a hot start in 2016, we thought it would be interesting to look at which neighbourhoods have been the most competitive so far this year.

To measure how competitive a neighbourhood is we decided to calculate the percentage of home sales in each neighbourhood that sold for more than the seller’s asking price.  This metric is a good way to estimate how many houses are getting multiple offers since buyers are generally not going to pay more that a seller's asking price if there are not multiple offers. 

The higher the percentage of homes selling for more than their asking price, the more competitive a neighbourhood is. 

 

 

 

 

Our Top 10 List of the Hottest Neighbourhoods during the first quarter of 2016 is dominated by neighoburhoods that have great access to public transit.  Six of the ten are directly on the subway line or the St.Clair streetcar line and another three are within a twenty minute walk to a subway station.  

You can browse our heat map below or click here for a full view of the map to see the results for every neighbourhood in Toronto.

Top 10 Hottest Neighbourhoods First Quarter 2016

 

1.  Danforth Mosaic

Percent of Homes Selling for More than Asking:  91%

Average Price: $758,640

Average Days on Market: 8

View a map and homes for sale in Danforth Mosaic

 

2.  Ionview

Percent of Homes Selling for More than Asking: 86%

Average Price: $659,247

Average Days on Market: 9

View a map and homes for sale in Ionview

 

3.  Hillcrest

Percent of Homes Selling for More than Asking:  85%

Average Price: $942,307

Average Days on Market: 16

View a map and homes for sale in Hillcrest

 

4. Davenport

Percent of Homes Selling for More than Asking:  83%

Average Price: $685,941

Average Days on Market: 7

View a map and homes for sale in Davenport

 

5. Lambton

Percent of Homes Selling for More than Asking:  83%

Average Price: $762,985

Average Days on Market: 11

View a map and homes for sale in Lambton

 

6.  Bloor West Village

Percent of Homes Selling for More than Asking:  83%

Average Price: $1,099,333

Average Days on Market: 8

View a map and homes for sale in Bloor West Village

 

7. Woodbine Gardens

Percent of Homes Selling for More than Asking:  80%

Average Price: $596,049

Average Days on Market: 15

View a map and homes for sale in Woodbine Gardens

 

8.  The Danforth

Percent of Homes Selling for More than Asking:  80%

Average Price: $951,485

Average Days on Market: 11

View a map and homes for sale in The Danforth

 

9.  Donalda

Percent of Homes Selling for More than Asking:  80%

Average Price: $1,575950

Average Days on Market: 11

View a map and homes for sale in Donalda

 

10.  Christie Pits

Percent of Homes Selling for More than Asking:  75%

Average Price: $849,751

Average Days on Market: 11

View a map and homes for sale in Christie Pits 

Realosophy Realty Inc. Brokerage is an innovative residential real estate brokerage in Toronto. A leader in real estate analytics and pro-consumer advice, Realosophy helps clients make better decisions when buying or selling a home. 

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