Houses for Sale in Midtown, Toronto, ON

Midtown's most popular neighbourhoods are Oakwood | Vaughan, Mount Pleasant East and Lawrence Park South | Allenby. We assess how much interest there is for a neighbourhood by looking at various statistics. Neighbourhoods with homes selling within the shortest time frame will usually have a higher popularity ranking.

Every city has its expensive neighbourhoods, and in Midtown they are Lawrence Park, Forest Hill South and Rosedale - Midtown. We isolate these neighbourhoods by looking at the average sold price over a set period of time. If you're looking for cheaper options though - Yonge and Lawrence, Lawrence Park South | Allenby and Forest Hill North also have great properties, but at much better value.

Oakwood | Vaughan, Wychwood and Mount Pleasant East are Midtown's cheapest neighbourhoods. Neighbourhoods are ranked by assessing the average sold price during the past 12 months. It should be noted that the average house in Midtown typically sells for $2,864,773.

Annual property taxes cannot be overlooked when assessing what it costs to own a house in Midtown. This tax is used to pay for several essential services, including garbage and recycling collection. The municipality is responsible for assessing properties and determining its property tax rate, which typically land between 0.5 and 2.5%. Some Midtown residents assume they'll pay more in taxes, depending on the size of their home. However, that's not necessarily true as the city's tax rate is multiplied by the property's current market value - and that can change each year based on the sale of nearby homes. Let's say your home's assessed market value is $600,000 and the municipality's property tax rate is 1% - that year you'd pay $6,000.

Strata.ca updates multiple times each day, featuring all the available listings in Midtown. This website can show what your neighbour's house sold for last year. Or how much your grandmother's home might be worth in today's market. This kind of intel can give you an edge in the local market.

Residents in Midtown are able to walk to many places, with the city ranking 75 in its walk score. The transit score, meanwhile, is 80 - providing residents with an impressive public transportation network. Last but not least, Midtown's bike score is decent, at 60.

When looking for a house in Midtown, many buyers will overlook the closing costs. It's important to be aware of what these costs are, so you can budget accordingly prior to making an offer. At Strata, we advise our buyer clients to get a good estimate of closing costs early on. These costs can range anywhere from 1.5% - 2% of the overall purchase price. So consider a purchase price of $500,000 - 2% on that is $10,000 which should be accounted for upfront. In Canada, regardless of where you purchase, all buyers must pay a land transfer tax. These amounts are set up by the individual provinces, with some municipalities imposing a second tax upon closing. First-time homebuyers could be eligible for a government rebate - your real estate lawyer can help you apply for this rebate at the time of closing. And lastly, buying Midtown real estate will require a lawyer you can trust. You'll need to find someone who specializes in this as they'll be finalizing your purchase. A good rule of thumb is to set aside about $1,500 to $2,000 to pay out your real estate lawyer upon closing.