Cheap Houses and Condos for Sale in Toronto

Listings last updated 01/25/2021
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Finding cheap houses for sale in Toronto, ON

Get instant access to a lot of relevant information about Toronto, ON real estate, including property descriptions, virtual tours, maps and photos. Point2 gives you far more than a simple list of cheap houses for sale in Toronto, ON, as the search results pages also have a lot of information on Toronto, ON, right below the listings. Among the deep filtering functions on Point2, you can use Toronto, ON real estate prices, square footage, amenities and many other criteria to help narrow down your search. Price drops are another feature at your disposal, which can be especially useful when you’re looking for cheap houses or cheap condos.

There are 94 cheap houses for sale in Toronto, ON

Use the map view to find Toronto, ON cheap homes for sale, based on city features or amenities that you may want close by. You can close in on a specific neighbourhood or area by simply drawing around it with the polygon or radius tools. Never miss an opportunity for a cheap home, by saving your searches. This way, you get new listings in your inbox, daily or every week, based on your preferences and your budget. If you’d like to get in touch with a professional, agents are displayed next to their listings, and they’re easy to contact through the online forms or directly by phone – all their contact information is displayed. If you want more options in terms of professional advice, you can click the Tools tab and Find an Agent, and you’ll get a list of helpful and knowledgeable real estate agents in Toronto, ON. Visit the Point2 blog and you can find up to date expert advice on many markets throughout Canada, regular market reports, neighbourhood scoops in cities throughout the provinces, best deals for cheap homes, and other useful recommendations.

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With a large population of over 2.7 million people, and its ranking as North America’s fourth most populous city, Toronto, Ontario is a hub for business, leisure, and international culture. Spanning an area of 630 sq./km, the city overlooks the shore of Lake Ontario and features a distinctive architectural mix of mid-19th century buildings and modern high-rise towers. Known for its multiculturalism, Toronto has a very diverse population made up of residents from around the world. With over 140 spoken languages, the city celebrates all nationalities and is undoubtedly one of Canada’s most attractive places to live.

Being such a major centre, Toronto enjoys a healthy economy and is a hub for both business and finance, as well as arts and culture. As well as being Canada’s financial capital, it’s also a centre for media outlets, IT companies, banks, publishers, film and television production companies, and hotels. Toronto enjoys a fairly low unemployment rate, with the services and domestic sector being the key drivers in employment growth. It’s a vibrant city with a lively atmosphere and a number of attractions, including the Toronto Zoo, the Eaton Centre, and a very strong performing arts scene.

Lake Ontario plays a large role in Toronto’s climate, which consists mainly of hot and humid summers, and fairly cold and snowy winters. The city is fairly flat with gentle hills that slope up from the lake shore.

Popular areas in Toronto include: East York, Etobicoke, North York, Old Toronto, Scarborough, High Park and York.

Toronto, Ontario

Toronto, Ontario
real estate market overview

Real Estate Market Overview

With a growing real estate market, Toronto is a property hot spot and has followed a similar trend to cities like Vancouver. It’s predominately a seller’s market and has been for a few years, largely driven by a demand for single-family, detached and semi-detached homes which have seen a rapid price increase. Many buyers are looking towards more suburban areas due to the price growth in more central neighbourhoods.

The city is known for its eclectic housing mix, and features a characterful mix of Victorian-style heritage homes, post-war homes, and high-rise, modern glass condos. Whether you’re searching for a small home, or something large and luxurious for the family, Toronto has a varied real estate market, and there are many neighbourhoods to choose from. 2017 and 2018 will see between 36,000 to 43,000 new housing units, due to an increased demand for housing – especially low-rise, single-family homes. Condominium and high-rise developments also contribute to this number. Demand for rental accommodation is also high, especially due to Toronto’s large immigrant and millennial population, with purpose-built rental properties on the increase.

real estate market overview

Cheap Real Estate Market Overview

Not only is Toronto a hub for business, finance, culture, and tourism, it also enjoys a growing and successful market. However, affordability is a concern, and due to the rising cost of single-family homes, many buyers are turning to multi-family homes such as condos and townhouses, which are generally much cheaper. While the demand for single-family detached homes is high, but inventory is low, condos and townhouses are more abundant, and the supply isn’t as limited. This means that such types of properties are available at both lower and higher price points.

Low mortgage rates create favourable conditions for buyers, especially first-time buyers, and the resale market remains strong especially for those between 25-44. Properties in the Greater Toronto Area are predicted to rise in value significantly, and an increase in listings is predicted for condos and multi-family dwellings, due to an increase in new developments. More affordable markets such as Halton and the Durham Regions are expected to see growth, however properties there can still be purchased well below the GTA average house price.

cheap real estate market overview

Read more about living in Toronto, Ontario.

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