510 Ellerslie Avenue, a well-appointed executive townhouse located at Bathurst and Sheppard, is now available for sale.  

Measuring over 2000 square feet per floor plan, the house features a "Paris" designed kitchen with custom cabinetry and a granite island with a wine rack. The kitchen, living and dining rooms all have hardwood floors. The central staircase is hardwood with Berber carpet runners. The third floor master suite has a gas fireplace and a Juliette balcony overlooking Ellerslie Park.  Its 4-piece ensuite includes a free standing tub, a steam shower and a heated floor.  

510 Ellerslie Avenue is near to two community centres; the Prosserman JCC, at 4588 Bathurst St., north of Sheppard, and Earl Bales Community Centre, located at 4169 Bathurst St., in Earl Bales Park.  You are minutes from the 401 and downtown. 

For more information about 510 Ellerslie Avenue, click here.

Buyers wanting to buy along the Yonge St. subway line in central Toronto are finding it difficult. The supply of listings and interest rates are both very low. Some listings are pounced upon by determined Buyers who compete so vigorously that sold prices up to 20% in excess of the asking prices are being recorded.

I have been selling residential real estate in Toronto for 37 years. I have ridden through two boom and bust cycles and intend to remain in the saddle for at least another two. My past work experience suggests to me that change is coming to our market place. Toronto real estate has increased in value dramatically over the last 12 years. Prices have more than doubled in that time. The average semi-detached house in the core now sells for $775,000 and trades in less than 30 days. The average detached house sells for $1,200,000 and trades on average just as quickly.

When I look back to the late 1970’s and the late 1980’s, I remember market conditions that mirror where we are today. Supply was low and demand was high. There were many frustrated Buyers waiting to finally win a bidding war. Some homeowners planning to sell would not make the decision to list because every sale seemed to indicate a new market high. Others would gladly have sold if they had been able to buy.

Low rates and low supply never last forever. “This time it’s different” is a refrain heard at the tail end of every boom. I do not think so. This cycle will morph like the others did into a Buyer’s market. Rates will rise and negatively impact affordability. The “Market-Timers” will list when it becomes clear the weather has changed. The supply of frustrated Buyers will shrink dramatically and prices will either flat line or adjust downwards.

What may be “different this time” is the extent to which Toronto’s core has been made more valuable by the City’s growth. There is a direct relationship between growth and the time it takes to get to work. As commute times lengthen, those who work in the city seek to move closer to work. This keeps the demand for centrally located real estate higher than it might otherwise be. Like Manhattan in New York, the core is transitioning from an eclectic economic mix of residents to an upper income only demographic. It is quite possible that central values will stay protected by this dynamic for many years to come.

                   What do I want in an agent?

In 1886, developer Simeon Janes created a subdivision just outside Toronto’s border.  He called it “The Annex” since it was about to be added, or annexed to the city.  He gambled that Toronto’s burgeoning middle class would be attracted to handsome properties set on tree-lined streets.  His instincts made him a fortune, and residences in the neighbourhood known as The Annex are as sought after today as they were in 1886.

 Many Annex houses take their cue from the work of E. J. Lennox, the premier architect of the time.  A Toronto native, Lennox created such landmark structures as the Old City Hall and Casa Loma.  37 Madison Avenue, designed by Lennox in 1887, blended Richardson Romanesque and Queen Anne architectural styles.  Rounded arches over doors and windows, decorative turrets and the use of Credit River sandstone remain the hallmarks of a Lennox-style Annex home. 

The Annex is located north of Bloor Street West and west of Avenue Road.  It is bordered on the north by Dupont Street and on the west by Bathurst Street.  Drivers can reach The Annex through its border streets, but parking in the neighbourhood can be difficult.  Fortunately, The Annex is served by three subway stations on the Bloor-Danforth line: St. George, Spadina and Bathurst. 

In 2011, the price of an Annex house ranged from $600,000 to $3,000,000, with most properties selling for roughly $2,000,000.  Condominium prices in 2011 ranged from $200,000 to over $2,000,000, with a median price of $800,000. 

The Annex is served by Huron Street Junior Public School.  Private schools in the area include Taddle Creek Montessori School and the University of Toronto Schools, a private high school affiliated with the University of Toronto. 

Founded in 1928, The Annex Residents' Association has been the voice of the neighbourhood for over 80 years.

The Miles Nadal Jewish Community Centre is located at the corner of Bloor Street and Spadina Avenue and offers a wide variety of fitness and recreational programs.  Nearby Trinity St. Paul's United Church is home to a number of faith-based and artistic groups, including the Baroque orchestra Tafelmusik.  Annex fixtures such as the Bloor Cinema, Lee's Palace and the Tranzac Club continue to offer a wide spectrum of entertainment options.  

Bloor Street between St George and Bathurst Streets has a thriving “restaurant row” that offers everything from pub fare to fine dining.  Students from the nearby University of Toronto’s St George campus join neighbourhood locals as they meet, eat, and watch the people go by.

The Annex offers houses of exceptional beauty set on quiet, shady streets.  It also has a vibrant restaurant and entertainment strip, as well as family-friendly schools and community centres.  These features make it one of Toronto’s premier neighbourhoods.

To search for properties in the Annex, click here.

The Toronto neighbourhood map displayed on this website was published in "Your Guide to Toronto Neighbourhoods", is copyright Maple Tree Publishing and has been reproduced by the Toronto Real Estate Board under license.