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The Danforth Condos
The Danforth Community
The Danforth Community is situated in the east-end of Toronto. It is better known as “The Danforth” or “Greektown,” and it is the largest Greek neighbourhood in North America.
This Community is a great choice for first time home buyers because of its relative affordability and the convenience of the Bloor/Danforth subway line. This neighbourhood has become a recent hot spot for young professionals due to its close proximity to the downtown core.
There is something for everyone here, whether you like traditional Victorian era homes, recently renovated modern homes, or newly built condominiums. It's no surprise that the real estate market in this neighbourhood has recently achieved record sales.
The Danforth encompasses a fairly large swath of east-end Toronto, and the houses are fairly close together. This means that there is more real estate available here than in many other Toronto neighbourhoods. The Grecian influence and culture, displayed in both subtle and overt ways, exude a warm and welcoming vibe!
The community features semi-detached houses, accounting for 53% of sales, accompanied by detached houses at 41% and duplexes, mutiplexes and townhomes at 2%. Two-storey houses are the common trend here, and the majority of properties have three bedrooms. The common price in the community over the past year was $1.209,106, an increase of 21% over the previous year. The average freehold price over the past year was $1,206,194 as compared to the average cost of condos of $940,000 over the same term.
The average household income is $109,090, and the median is $80,163.
There is a wide variety of homes here including detached, semi-detached, two-storey, and bungalow houses, as well as mid-rise condo developments. Many detached multi-unit homes are currently used as rental units in the area. A lot of these properties are on quiet tree-lined streets and have lovely front porches. One fairly recent trend in the neighbourhood is to add "top ups" on bungalows, which are second storey additions with modern flair and contemporary designs that are in stark contrast to the older houses in the neighbourhood.
Condo townhouses have begun to appear, and we are even beginning to see a couple of low to mid-rise condo buildings along the Danforth. The average price is $470,286. The low-high price currently sits at $185,000 - $726,350.
This community is well served by public transit. The numerous public transportation options in the neighbourhood include five subway stations, which are Greenwood, Coxwell, Woodbine, Main, and Victoria Park Stations. There are also two Go Train stations - Danforth and Main - as well as multiple bus and streetcar routes that rush along Greenwood Avenue, Coxwell Avenue, Gerrard Street East, and Woodbine Avenue. These public transit options work together to make your morning commute an easy one. For motorists, there is also easy access to Downtown Toronto via the Don Valley Parkway and Lake Shore Boulevard.
Home prices in the area continue to rise. This community is an impressive, highly-coveted area complete with well-manicured lawns, tree-lined pedestrian-friendly walkways, local parks, and classic architecture. You should definitely jump on the opportunity to invest or purchase a home here while you still can.