Lately, when chatting to both buyers and sellers, the idea of moving out further afield (and by my standards WAY further afield) has increasingly become a more viable and desirable option.
One of my son’s friends just moved from a 2-bedroom apartment in Midtown to a house with a big back yard in St. Catharines. As a die-hard urbanite, I love living in Toronto, and shall remain, but when you look at the housing prices, and how much you need to make in order to own a house, your hard-earned money goes a lot farther further afield.
Here are the average home prices and how much money you need to earn in order to buy a house in Six of Ontario’s Most Affordable Real Estate Markets Right Now.*
Average Home Price: $570,612
Annual Income Required for Purchase: $73,654
Average Home Price:$505,998
Annual Income Required for Purchase: $69,072
Average Home Price: $493,007
Annual Income Required for Purchase: $66,317
Average Home Price: $383,521
Annual Income Required for Purchase: $52,192
Average Home Price: $297,938
Annual Income Required for Purchase: $33,749
1. NORTH BAY
Average Home Price: $286,114
Annual Income Required for Purchase:: $39,893
Are you a hardcore Urbanite who will always remain a Torontonian? Or are you seriously considering a new city and a new way of living? I would love to hear your thoughts.
Toronto Stats this Past week
MLS activity from August 26 to September 1 for residential properties:
|For sale right now:
|Under Power of Sale (GTA):|
Compare the above to the week before from August 19 to 25 when there were 7,580 for sale, 1,583 newly listed, 457 Sold & 18 under power of sale.
Just listed in Toronto within the last 24hrs
(Email or call me directly for off-market properties)
If you would like me to look up any other numbers for you, just call me 647-804-8601. Let me know how I can help with your (RE)search. Thank you for your time. Looking forward to working with you now or sometime in the future.