Would You Buy A House Which You Saw From The Space Station?

You’re in the International Space Station with Commander Hadfield and as you are traveling 367 kilometers above the earth at 7.7 km per second you spot a house.  So from this great vantage point you decide that the house looks great so then and there you buy it.  The good news, as of yet, there are no Realtors on board so you are spared from making an emotional and uninformed purchase.

A day doesn’t go by where we are not bombarded by dozen of media reports regarding the status of our Canadian housing market.  But if you look at the data it is seems to be from a macro level:

  1. Canadian (CREA)
  2. Provincial (OREA)
  3. Local real estate boards (TREB)

Considering the geographic and economic diversity in each unique province/city you can see that the health of individual housing markets will be certainly varied.  Yes, you work in the city, but ultimately you are looking for a specific neighbourhood where you see yourself living.   On a regular basis I continue to provide statistic monthly updates for detached homes, semi-detached homes and condominiums for both Toronto East and Toronto Central.  In doing so, it provides a more detailed picture of housing.   In addition, I updated and publish monthly statistics on some specific Toronto East neighbourhoods.

By looking at the local neighbourhood statistics you will see that some areas don’t reflect the trends seen either on a municipal or national analysis.    But the only way to know is you have to do some early heavy lifting to access the right data.

Moving away from the numbers world, there are other sources to review to get a better idea of Toronto neighbourhoods:

Before you start spending weekends traipsing through dozens of condominiums or homes do some of the early digging.   Knowledge is power and when it come to buying or selling you want to be informed.