Have you ever wondered about the real estate prices development in Toronto? The Globe and Mail has created an interesting interactive map that can help you find out how prices have changed in Toronto neighbourhoods, covering the period since spring 2008. The map uses data mapping methodology introduced by Realosophy.com and the actual information is drawn from the official Toronto Real Estate sales and price stats. Areas of high commercial or industrial usage with little residential housing are left blank, as the collected data would be easily skewed due to low sales activity. Both Spring and Fall figures are always calculated in comparison to the same period in a previous year, so it might be wise to follow development over the whole period to be able to spot the trends.
Playing with the map reveals some interesting facts that can sometimes look almost shocking when marked in blue and red colours. For example, after Fall 2008, when the average prices in Toronto declined for the first time over more than a decade and the recession hit the Canadian real estate market, Spring 2009 looks rather tragic. Most of the neighbourhoods saw significant decline in a year-to-year comparison and the map of Toronto is immersed in different shades of red. However, when you click on Fall 2009, you can already spot signs of recovery, as cheap mortgage rates and rising confidence among buyers returned the market back on track during the summer.
It’s also fun to observe some of the surprising surges and falls of the neighbourhoods that sometimes call for further analyses to explain such high figures. For example, compared to Spring 2010, Bridle Path saw stunning 182 per cent growth in Spring 2011. On the other hand, Teddington Park fell by 60 per cent in Fall 2012.
Now, check out the map yourself to learn about your neighbourhood or about your prospective communities and become a true real estate analyst within a second!