North York neighbourhoods Average Townhome Price in North York Questions & Answers
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List of New Townhomes in North York

Why Should You Invest in North York Real Estate?

Located north of the City of Toronto is the city of North York. Having become part of Toronto, North York is now a city within a city. North York is one of six municipalities that make up the City of Toronto, along with Scarborough, East York, Etobicoke, York, and Old Toronto. More than 691,00 people live in North York, which is a growing community with a remarkably diverse population. Over half of its residents are visible minorities, and 54% speak languages other than English, making it one of the most diverse cities in the country. The city is bordered by Finch Avenue and Lawrence Avenue, which run along its north and south sides, while Victoria Park and Keele Street lie at its east and west ends. From North York’s rich history of independent neighbourhoods, diversity has always been a featured aspect of the neighbourhood. Midtown and Uptown are urban areas characterized by narrow street networks and high-rise buildings, where you will find many office buildings and commercial spaces, as well as high-rise condominiums. In addition to having an ethnically diverse population, North York also has a diverse economy, which is crucial for a thriving community. In the area, several highways and major roads provide easy access to the city and other regions of the GTA. Travellers heading north or south can take the Don Valley Parkway or Highway 404, which are connected to Highway 401, which runs east to west. Residents in the city can also find a variety of parks, recreational facilities, and shopping centres. In the area are a number of parks where residents can experience a getaway from the bustle of the city, including the Toronto Botanical Garden, Earl Bales Park, and Downsview Park. Among the housing options in North York are high-rise condominiums, houses with detached garages and townhomes. The most common type of housing in North York are mid-and high-rise condos, followed by single-family homes. New townhomes in North York present an excellent choice for those looking for recreation, employment, and education opportunities in the city and Toronto.

New Townhomes in North York & Reasons to Buy

A new townhouse in North York is an excellent investment due to the city’s fast growth and easy access to many amenities and facilities. Despite being part of Toronto, North York has its unique charm and is quite different from the rest of the city. In this city, there are many types of housing, ranging from luxury homes to high-rise condominiums to detached homes and boutique townhomes. Most residential buildings in the region are five-story buildings or higher, with 25 percent being single-family homes. During the past two years, the value of properties has increased by 47.6 percent. Residents of new construction townhomes in North York will have access to plenty of employment opportunities and educational opportunities. According to North York’s occupational profile, sales, service, business, and finance, education, law, and government, management, natural and applied sciences, are the top occupations. North York is also conveniently located near Toronto and Markham, where many employment opportunities exist. Within and around North York are also numerous post-secondary educational institutions. A 30-minute drive will take you to the University of Toronto – St. George Campus, York University, Seneca College, and Ryerson University. North York is served by both the Toronto District School Board and the Catholic District School Board. The TDSB operates over 100 elementary schools and 15 secondary schools. Transportation is convenient throughout the city, with GO Transit and TTC both providing transit options for residents. The city is also home to many amenities and facilities, from community centres to shopping centres. There are many community centres located in the area, including North Toronto Memorial Community Centre, which has two swimming pools, an indoor track, a gym, and a fitness room. Residents in the North York region can shop at Yorkdale Shopping Center, a major retailer offering a wide range of retail brands and stores, including high-end shopping.

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North York Employment

Among the top occupations in the city are those in sales and service, finance, education, law, and management. There are five major industries in North York: professional, scientific, and technical services, health care and social assistance, retail trade and finance and insurance. Some of Canada’s largest corporations have their headquarters in North York, including Home Depot Canada, Canadian Tire Corporation, Starbucks Canada, and Mars Wrigley. There are several hospitals in North York that offer employment and health care services, including Sunnybrook Health Sciences Centre, Humber River Regional Hospital, and North York General Hospital. New townhomes in North York provide easy access to Toronto’s Downtown, Midtown, and Uptown job markets. Moreover, Toronto, Canada’s largest economic contributor, is easily accessible from the city.

Average Prices for Townhomes in North York

The recent TREB statistics concerning July 2024 show that the average price per home across North York including new townhomes is a particularly high figure of $1,305,476. Contrarily, the townhomes situated in the City of Toronto are slightly costlier, averaging $1,230,046, more expensive than the GTA’s average of $1,018,731. Especially in North York, the average list price of a townhouse was $1,151,590 in July 2024, while properties spent about 21 days on the market on average. This shows an even higher premium for townhouses in North York as compared to other Toronto municipalities or the greater Toronto area. Also, according to data from the Toronto Real Estate Board, the benchmark price for townhouses located in North York is $932,200 and has dropped by almost 5% from the year prior.

Getting Around in North York

A new townhome in North York will put you close to a range of transit options, making it easy to commute into and out of the city. North York residents have access to a variety of transportation options, such as highways, buses, and subways, some of which operate 24/7. Residents of North York can access Don Valley Parkway, Highway 400, and Highway 401. Toronto Transit Commission is the city’s main public transportation provider. The Yonge-University line runs northbound and southbound and connects North York with Downtown Toronto. From Sheppard-Yonge, Line 4 Sheppard provides easy access to Don Mills. As an alternative to the subway, the TTC offers buses and streetcars. Customers can pay their fare on most transit services within the GTA using PRESTO cards. GO Transit operates several stations in North York, including York Mills GO Terminal, Finch Station, and Old Cummer GO, from which riders can take GO buses across the region. From either Finch or Finch West station, passengers can reach Union Station in Downtown Toronto within 30 minutes. There are numerous features on TTC vehicles that make travel easier for everyone, including priority seating, kneeling features, and ramps on buses and streetcars, as well as priority seating for those with disabilities and those who are pregnant. Additionally, TTC Wheel-Trans is another accessible and reliable option available to those with transportation needs. For Wheel-Trans service, customers must book via the internet or by telephone.

Neighbourhoods in North York

The city of North York has many diverse and unique neighbourhoods with many new townhome developments. Consider the neighbourhoods of York Mills, Don Mills, Parkwood, and Willowdale when looking for a new townhome in North York. Don Mills, York Mills, and Parkwood are located south of Highway 401. Most houses in these neighbourhoods have been replaced by larger detached homes and luxury condominiums. These neighbourhoods are surrounded by many green spaces and excellent shopping facilities, such as Shops at Don Mills. One of North York’s great neighbourhoods is Willowdale, which is located in the north end of the city. Here, you can find mainly custom homes, bungalows, condominium apartments and condominium townhouses. Willowdale is an urban area with a lot of new developments. There are many dining and retail stores on Yonge Street, which runs through the middle of the neighbourhood. Willowdale residents have easy access to North York Civic Centre, home to the Douglas Snow Aquatic Centre and North York Central Library.

Questions & Answers

What are the notable advantages of buying new townhomes in North York?
I would like to know where I can locate the newest townhouses to be built in North York?
Is it possible to find some kind of financing for a new townhouse in North York?

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