Where are Toronto’s prime real estate pockets?

next-hoods12re3Interesting piece from the Globe and Mail today – although with the market the way it is, if you have a detached or even a semi in good condition, it almost doesn’t matter where it is!

By Carolyn Ireland

Toronto’s capricious spring real estate market has lots of people feeling perplexed.

Sales have been tumbling for months in a row but prices have held on or continued to climb.

Some houses draw 11 bids; others see their offer dates come and go.

Buyers question whether prices are finally on the verge of a decline, and they only have to look as far as Vancouver to see people who bought last year only to see their new house slide in value in 2013.

Move-up buyers don’t have it any easier: They may buy a grand new property and get caught in the uncomfortable squeeze of not being able to sell their current house or condo.

So for people who want to buy or trade up now, one strategy that makes sense is to put a greater emphasis than ever on finding a stellar neighbourhood. These pockets tend to hold up better in a market slump and are likely to rise higher still if prices resume their climb.

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