It's a widely known fact that human beings tend to stick with what they know. If a person has lived in Toronto lofts all their lives, when they decide to buy property for themselves, they're more likely to look for a downtown loft than branch out to search in Mississauga or Etobicoke. But there are some great deals lurking out there. You should at least take a look before you make your final decision. This page can give you an overview.

Houses

Detached homes can be found in almost every neighborhood in Greater Toronto. They often have a garage, small yard, and such amenities as a family room or fireplace. However, the price for such a home varies greatly between neighborhoods, with the Toronto and Markham real estate listings often differing by multiple hundreds of thousands of dollars. For our purposes, we'll compare the most popular markets by the price of a single story home.

The best value (as of June of 2009) for a single story home in the GTA is Burlington. It lists at $303,000, which just edges by Brampton at $308,000. Scarborough, Mississauga, and Etobicoke occupy a sort of middle ground at $346,000, $355,000, and $362,000, respectively, while Woodbridge and Markham are tied at $425,000, which is about what you'd pay for a really nice Toronto loft condo. Edging into the higher ranges are Unionville at $530,000 and Thornhill at $600,000, while Lawrence Park tops the list at $700,000.

Condos

Since condos tend to be concentrated in the denser central areas, you have fewer options when you're searching for one. However, prices vary even along the same street, as a unit at 763 Bay Street can cost many thousands of dollars more than a unit in a building a few blocks away. Therefore, you should still take the time to compare. Here are the average values for a standard condo in Toronto's more popular neighborhoods.

The best values in condos are Brampton at $167,000, followed by Scarborough at $195,000. In the $200,000 range are Mississauga ($218,000), Burlington ($241,000), Markham and Bloor West Village (tied at $270,000), and Etobicoke ($298,000). From there we skip through Unionville, Cabbagetown, and High Park ($310,000, $341,000, and $355,000 respectively) on our way to the $400,000s, which includes the Waterfront at $405,000, Midtown at $410,000, and the Annex at $475,000. Big hitters are luxury buildings like 20 Gothic and the neighborhood of Forest Hill, at $550,000.