Weston real estate going gangbusters

While the whipsawing stock market might make Westonians weep, the real estate market should provide some comfort. It seems like the rest of the GTA is starting to appreciate Weston as much as we do. In the most recent figures from the Toronto Real Estate Board, houses in Weston’s area, ‘W4’, appreciated dramatically.

The typical home in Weston’s area sold for  $356,000, a whopping 14.5% increase over last year’s price. In Toronto, homes are typically more expensive ($475,717), but prices increased only half as much last year—though still at a breathtaking 7.4%.

The average price of a detached home in W4 was  $449,856, and the median house was $425,000 (the prices differ because a few expensive houses bring the average price up.) Detached houses in the Weston area, then, are still among the least expensive in Toronto. The typical detached house in Toronto was $550,000.

 

Author: Adam Norman

I am raising my two children in Weston.

4 thoughts on “Weston real estate going gangbusters”

  1. Hmmmm. We moved here last week from Old Weston Rd and Rogers (12 minutes away) and I do have to say, the homes ARE a bit cheaper here, however, isn’t that also a bad thing? It’s great when you have to buy, but not so great when you have to sell. We plan to do some extensive renovations in the next year or two, and although we plan to stay a very long time (or maybe forever), it doesn’t give me solace to know that should I need to sell for whatever reason, I might not make a nice profit, considering what I will be putting in to renovate. It’s very good to hear that the homes appreciated by that much. I wonder why homes here in Weston are worth less than other areas. Anyone have any insight?

    1. I think prices are low because people don’t know about Weston. When I talk about my neighbourhood, nobody has heard of it–but that’s fine. Nobody had heard of The Junction either when I lived there.

      But I wouldn’t worry. If you want to make money on real estate (or any other investment) you want to buy low and sell high, which is exactly what you’ve done. And anyway, I can guarantee that once you’ve lived here a while, you won’t want to move. They’ll bury me in my backyard!

  2. Ahhh that makes sense Adam and it’s true. I had no idea about this nice little pocket until we started looking. I cried and cried when we moved because I was leaving my wonderful neighbours and I was comfortable in my old neighbourhood, however my husband hasn’t looked back. We purchased mainly for the lot size and he loves it so much that he is very happy here so I think you may be right 😉 It’s just nice to know that your house is worth much more than what you bought after you renovate. Location is the biggest key in real estate so I hope that Weston’s real estate continues to appreciate so that it puts Weston on the map of high value neighbourhoods 🙂

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