A lot of people probably don’t realize just how valuable it is to live close to a subway.
We’re not just talking about convenience, either – we mean literally cash money valuable.
Toronto-based real estate service recently TheRedPin examined the prices of 1 and 2 bedroom condos (as well as single-family homes) within close proximity of select subway stations.
One of the most significant findings was that condos close to subway stations were 14 per cent more valuable than those that weren’t. The average price of a condominium apartment that sits within a 10-minute walk of the subway is $460,213 compared to the overall city average of $405,639.
Living on the Yonge line proved to be especially lucrative real estate, with units boasting an average sold price of $532,451. Prices for freehold homes, meanwhile – which encompass detached, towns and semis – hovered around $1,017,212, which is 15 per cent more than the Toronto average.
View Home Prices Around The TTC Subway in a full screen map
York Mills boasted by far the highest real estate prices of subway stations included in the analysis:
Avg. Freehold House: $2,661,390
Avg. 1 Bed Condo: $407,539
Avg. 2 Bed Condo: $828,983
Wile Kennedy station posted the lowest:
Avg. Freehold House: $571,953
Avg. 1 Bed Condo: $147,219
Avg. 2 Bed Condo: $227,200