Investing In Scarborough Real Estate Market
Scarborough is located within the City of Toronto, making it part of the Greater Toronto Area. The city is bordered by Victoria Park Ave to the west, Steeles Ave E to the north, the Rouge River to the east, and Lake Ontario to the south. The city of Scarborough has plenty to offer in terms of recreation, housing, education, and career opportunities. In each of the 33 neighbourhoods of the area, you can find a diverse array of home types, from historic homes to newer detached or semi-detached houses to luxury condos. More than 630,000 people from various backgrounds live in Scarborough, making it a very diverse and multicultural city. Due to the city’s rapid growth, there are many opportunities to invest in new homes in Scarborough. Residents have many transportation options from Scarborough due to the proximity to several highways and the TTC and GO Transit service. If you buy a new home in Scarborough, you’ll have easy access to all the career opportunities available in Toronto. Within a 30-minute commute by public transit or car, Downtown Toronto is easily accessible from Scarborough. Residents of Scarborough can also enjoy many parks and green spaces within easy reach, including Thompson Memorial Park, Rouge National Urban Park, and Scarborough Bluffs. Beaches are also available in nearby waterfront parks such as Bluffer’s Beach and Port Union Waterfront Park. From Scarborough, drivers can easily travel to other regions of the Greater Toronto Area via Highway 401, Highway 404, Kingston Road, and the Don Valley Parkway. A new home in Scarborough will put you in a diverse community featuring a variety of housing, recreation, and educational options.
List of New Homes in Scarborough
Pre-Construction Homes in Scarborough & Reasons to Buy
A pre-construction home in Scarborough will provide residents with an excellent quality of life and access to high-ranked educational institutions, as well as one of the most affordable housing markets in Toronto. Scarborough offers a range of housing options, such as condo townhomes and high-rise condominiums and plenty of housing in the various master-planned communities developed within the city. The proximity of Scarborough to several schools makes it the perfect place to live for families. Public elementary and secondary schools in Scarborough are operated by the Toronto District School Board, Toronto Catholic District School Board, and Viamonde School Board for French-speaking schools. There are several universities and colleges also located in Scarborough, including Centennial College and the University of Toronto Scarborough. Residents of Scarborough also have easy access to post-secondary institutions in downtown Toronto, including Ryerson University, the University of Toronto – St. George, OCAD, and George Brown College. Residents can enjoy many festivals and events hosted in the city, such as the Scarborough Ribfest, Taste of Lawrence, and Nuit Blanche Scarborough. Living in Scarborough will allow you to immerse yourself in a multicultural community, allowing you to experience cultures from all over the world. A pre-construction home in Scarborough will also provide access to several shopping destinations, including the Scarborough Town Centre, which has over 210 stores. Several attractions are in Scarborough, such as the Toronto Zoo, which is in the northeastern part of the city near the Rouge Valley. Some of the city’s most popular spots for residents and visitors include Guild Park and Scarborough Bluffs Park. Residents can spend time at the beach and enjoy the scenic bluffs at Scarborough Bluffs Park, which is located along Lake Ontario. In Scarborough, visitors can explore the Guild Park and Gardens, where beautiful gardens and structures can be found.
Working in Scarborough
The population of Scarborough is over 630,000, with 54% of residents actively engaged in the labour force. Currently, Toronto’s unemployment rate, which includes Scarborough, is 13.1%, higher than the Greater Toronto Area and the national rate. In Scarborough, the average household income is $78,749. This is slightly less than Toronto’s average income, which is $102,721. Scarborough is a well-educated city, with over half of its residents having completed post-secondary education. New homes in Scarborough put you close to the city of Toronto, one of the nation’s major economic hubs, as well as the main industries in Scarborough. The top occupations in Scarborough are sales and service, business and administration, trades and equipment operation, social and government, and applied sciences. In Scarborough, the top industries include retail trade, health care, manufacturing, accommodation, and food services. Among Scarborough’s top employers are Mondelez International, Toronto Transit Commission, and the University of Toronto. The proximity of Scarborough to Toronto gives residents access to a range of career options.
Average Prices for Homes in Scarborough
Over the past year, the average sale price for all types of properties in Scarborough (Toronto East) was $992,839. The average price of a detached house in Toronto is $1,699,881, while the average price of a semi-detached house is $1,267,044. Toronto’s average price for a single-family detached home is higher than the GTA’s average of $1,407,540. Additionally, Toronto has a higher average price for semi-detached houses than other regions in the Greater Toronto Area, which averages $1,055,640. In 2021, the average price of detached homes in Scarborough is $1,259,276 and spends an average of ten days on the market. Semi-detached homes in Scarborough have an average listing price of $1,163,135 and sell after an average of nine days on the market. Scarborough’s prices are lower than those of the City of Toronto for detached and semi-detached homes. There was an 18.87 percent change in single-family detached home prices over last year to $1,537,100 this year. The benchmark price for single-family attached homes changed by 16.56 percent from last year to $1,217,200.
Scarborough Transit & Accessibility
Scarborough has many ways to travel around the city and to other areas of the Greater Toronto Area, which is why new homes in Scarborough are an excellent investment. TTC or GO Transit services are available to residents for public transportation. Residents of Scarborough have access to bus and train services provided by the Toronto Transit Commission. Scarborough is served by more than 40 bus routes operated by the TTC, including Express Routes, Regular Routes, and Blue Night Routes. Residents of Scarborough can access the subway system via the TTC’s Bloor-Danforth Line (Line 2), including Kennedy, Warden, and Victoria Park. The TTC also offers Line 3 (Scarborough RT) that runs through central Scarborough and has six stops between Kennedy Station and Scarborough Town Centre Station, but it will stop operations in 2023. By 2022, the Eglinton Crosstown LRT will also be completed in Scarborough. The Eglinton Crosstown will run from Kennedy Station to Mount Dennis, along Eglinton Avenue. Scarborough residents will gain easy access to Midtown Toronto via the Eglinton Crosstown. There are six GO Transit stops in Scarborough, including Eglinton, Kennedy, Scarborough, Agincourt, Guildwood, Milliken, and Rouge Hill. GO Transit customers can also take a GO Bus from Scarborough Centre Bus Terminal. In Scarborough, Highway 401 provides access to the 400-Series highways and the Don Valley Parkway. Kingston Road is another major street in Scarborough. From the east, Kingston Road provides easy access to the Durham Region, while from the west, it merges into Lake Shore Boulevard, which merges into the Gardiner Expressway in downtown Toronto.
Neighbourhoods in Scarborough
Scarborough is made up of 33 diverse neighbourhoods, each of which offers its own unique experience and features. When looking for a new home in Scarborough, there are plenty of options in the neighbourhoods of Clairlea, Dorset Park, Agincourt, and Bendale. The neighbourhood of Clairlea is located at the intersection of Warden Avenue and St. Clair Avenue East. Clairlea is a quiet and family-friendly neighbourhood, with most of the homes in the area being newly developed townhomes, condo townhomes, and semi-detached and detached homes. Residents of Clairlea have easy access to public transportation via the TTC at Warden Station, which can be reached in less than 10 minutes. Residents also have many shopping options nearby at Warden Ave and Eglinton Ave E, where there are several shopping centres and plazas. There are also several green spaces nearby, including Clairlea Park and Warden Woods, where residents can find walking trails following Taylor-Massey Creek. Clairlea is also home to Providence Healthcare, which is a healthcare facility that specializes in rehabilitation. W. A. Porter Collegiate Institute is also located in Clairlea, which is a high school that offers a special technology program. Dorset Park is another neighbourhood to consider when looking for a new home in Scarborough, as most homes in the area are semi and detached houses and bungalows. The neighbourhood of Dorset Park spreads across Midland Avenue and Birchmount Road, with Kennedy Road running through the centre of the neighbourhood. Residents of the neighbourhood have access to various transportation options, including Highway 401 at the north end of the neighbourhood. Additionally, the TTC’s Line 3 has three stops in the neighbourhood, including Lawrence East, Ellesmere, and Midland stations. Along Kennedy Road, there are many shopping and dining options available to residents. Agincourt, located between Kennedy Road and Markham Road, is another neighbourhood to explore if you’re looking for new homes in Scarborough. It is home to a culturally diverse population, so there is a wide range of dining and shopping options here. Residents of Agincourt have access to other forms of transportation, such as Highway 401, which is accessible from either Brimley Road or Kennedy Road. Agincourt residents can also access GO Train services from Agincourt GO station, from which they can reach Union Station in downtown Toronto in 25 minutes. There are several green spaces for residents of the area to explore, including North Agincourt Park, Iroquois Park, and Havendale Park. Agincourt Collegiate Institute is also located in the neighbourhood, which is one of the top schools in Ontario. Bendale is home to a culturally diverse community and is a family-friendly neighbourhood, where you can find a wide range of homes, from custom-built homes, bungalows, and detached homes. Living in Bendale places you near many city facilities and attractions. In the middle of the neighbourhood is Thompson Memorial Park, which has a wooded area, picnic spaces, play structures, and trails. North of Bendale is Scarborough Town Centre, where residents and visitors can find many retailers. Consider these neighbourhoods when searching for a new home in Scarborough.
Questions & Answers
Public elementary and secondary education is provided by the Toronto District School Board, Toronto Catholic District School Board. For French-first language education, elementary and secondary schools are managed by Viamonde School Board. There are also two post-secondary institutions in Scarborough, which include Centennial College and the University of Toronto Scarborough (UTSC).
There are many things to do in Scarborough, from visiting the Toronto Zoo, Scarborough Bluffs, Guild Park, or Rouge National Urban Park. You can also experience the different cultures in the city by exploring the many restaurants or attending annual events and festivals, such as the Taste of Lawrence.
Healthcare in Scarborough is provided for by the Scarborough Health Network Foundation, which operates several hospitals in the city, including Scarborough General Hospital, Centenary Hospital, and Birchmount Hospital.