A swath of Scarborough waterfront has become Toronto’s hottest real estate market, at least in terms of price gains for existing detached homes, according to a new study.
Several neighborhoods in southern Scarborough are gaining the most.
Birchcliffe/Cliffside led the city with a 25.4 per cent increase, with the average home in the area climbing $724,187 as of the end of June, compared to $577,567 from one year ago.
Next up in turns of percentages increase was Cliffcrest/Scarborough Village/Guildwood, up 23.9 per cent from a year ago, climbing from $609,047 to $754,437.
The Rouge/Malvern area saw prices rise 19.2 per cent during the same period, from $521,643 to $621,912.