Earlier this week, the Toronto Real Estate Board released its latest figures showing home sales have slumped from a year ago.
And with the data from the past year, Zoocasa has mapped out the neighbourhoods in the city, showing where prices are cooling off.
According to the real estate website, the average price for houses in Toronto fell $295,575, or 18%, between April 2017 and February 2018, from $1,578,542 to $1,282,967.
But it doesn’t mean prices are going down in the city.
Zoocasa states that while “the aggregate data indicates a plunge, the reality is real estate price conditions are extremely local, especially in Canada’s largest city.”
The latest month-over-month data shows that Toronto is in for a competitive spring real estate market, with bidding wars and multiple offers returning to become the norm.
So where are house prices cooling and where are they rising?
Zoocasa took it upon itself to figure this out using data collected from the Toronto Real Estate Board over the past year. They have released their findings in the infographic below.
Green neighbourhoods reflect a month-over-month price change greater than zero per cent, indicating positive price growth. Blue neighbourhoods indicate price change lower than zero per cent, signaling home values are cooling.
Neighbourhoods where house prices have been rising 5 months in a row:
W10 (Rexdale-Kipling, West Humber-Claireville)
Regions where house prices have been rising 4 months in a row:
E07 (Miliken, Agincourt)
Regions where house prices have been rising 3 months in a row:
W04 (Yorkdale-Glen Park, Weston)
Regions where house prices have been rising 2 months in a row:
C03 (Oakwood-Vaughan, Forest Hill South)
C06 (Bathurst Manor, Clanton Park)
C07 (Newtonbrook West, Willowdale West)
C14 (Newtonbrook East, Willowdale East)
E02 (The Beaches, Woodbine Corridor)
E04 (Dorset Park, Clairlea-Birchmount, Kennedy Park)
Regions where house prices have fallen 2 months in a row:
C12 (Bridle Path, Hoggs Hollow, St. Andrew-Windfields)
C13 (Don Mills, Parkwoods, Victoria Village)
Regions where house prices have fallen 3 months in a row:
C11 (Flemingdon Park, Thorncliffe Park, Leaside)