Discovering Cabbagetown : A Complete Guide to Living in One of Toronto’s Most Charming Neighbourhoods
Toronto is a bustling metropolis that is home to a diverse range of neighbourhoods, each with its own unique charm and character. Among these neighbourhoods is Cabbagetown, one of the city’s most beloved and historic areas. Located just east of downtown Toronto, Cabbagetown is known for its stunning Victorian architecture, picturesque tree-lined streets, and vibrant community spirit. In this guide, we will explore everything you need to know about living in Cabbagetown, including its real estate market, neighbourhood highlights, job market, transportation and accessibility, and more.
Real Estate Market in Cabbagetown
Cabbagetown is a highly desirable neighborhood in Toronto, and the real estate market in the area reflects this. Here are some subheadings to consider when looking at the real estate market in Cabbagetown:
Overview of the Current Real Estate Market in Cabbagetown:
The current real estate market in Cabbagetown is strong, with high demand for properties in the area. Properties tend to sell quickly, and competition can be high, especially for single-family homes. According to the Toronto Real Estate Board, the average selling price for a home in Cabbagetown was $1,486,187 in 2020, with an average of 15 days on the market.
Average Housing Prices and Trends:
The average housing prices in Cabbagetown are higher than the Toronto average, reflecting the neighborhood’s high-end properties and desirable location. While there may be fluctuations in the market, Cabbagetown’s real estate market is expected to remain strong in the long term, as the area continues to be highly sought-after.
Types of Properties Available:
Cabbagetown offers a mix of property types, including single-family homes, condominiums, and townhouses. The area is known for its historic Victorian-style homes, many of which have been beautifully restored. Condominiums and townhouses are also available, offering a more modern style of living in the heart of the city.
Competition and Demand:
As mentioned, competition and demand for properties in Cabbagetown can be high. It is not uncommon for properties to receive multiple offers, especially for single-family homes. As such, it is essential to work with a knowledgeable real estate agent who can help you navigate the competitive market and find the right property for your needs.
Future Developments:
While Cabbagetown is a historic neighborhood, there are still plans for future developments in the area. As Toronto continues to grow and expand, it is likely that new developments will arise, such as new condominiums or commercial properties. It is important to consider these future developments when making a real estate investment, as they could impact the value of properties in the area.
So, the real estate market in Cabbagetown is strong, with high demand for properties in the area. Housing prices are higher than the Toronto average, reflecting the neighborhood’s high-end properties and desirable location. Cabbagetown offers a mix of property types, with competition and demand for properties often high. It is essential to work with a knowledgeable real estate agent and consider future developments in the area when making a real estate investment.
Neighbourhood Highlights
Cabbagetown is a vibrant and diverse neighborhood that offers a wide range of activities and attractions for residents and visitors alike. From community events and festivals to parks, restaurants, and educational institutions, there is always something to do in Cabbagetown.
Community Events and Festivals:
Cabbagetown is home to a number of community events and festivals throughout the year. One of the most popular is the Cabbagetown Fall Festival, which takes place every September. According to real estate data, this festival attracts thousands of visitors from across Toronto and is a major driver of the local economy. The festival features live music, food, drinks, arts and crafts, and more, and is a celebration of the neighborhood’s history, culture, and community spirit.
Parks and Green Spaces:
Cabbagetown is home to a number of parks and green spaces, including Riverdale Farm and Riverdale Park. These parks offer stunning views of the Toronto skyline and are popular destinations for picnics, sports, and other outdoor activities. Riverdale Farm is also an urban farm that features farm animals, gardens, and walking paths. According to real estate data, the presence of these parks and green spaces is a major draw for families and anyone who wants to enjoy nature in the heart of the city.
Restaurants, Bars, and Cafes:
Cabbagetown is home to a diverse and vibrant food and drink scene. According to real estate data, the presence of these restaurants, bars, and cafes is a major driver of the local economy and a significant factor in the neighborhood’s popularity. Some popular spots include House on Parliament, F’Amelia, and Stout Irish Pub.
Schools and Educational Institutions:
Cabbagetown is home to a number of excellent schools and educational institutions, making it an excellent choice for families with children. According to real estate data, the presence of these schools is a major draw for families and a significant factor in the neighborhood’s popularity. Some notable schools include Sprucecourt Public School, Winchester Junior and Senior Public School, and Our Lady of Lourdes Catholic School.
Jobs:
Cabbagetown is a thriving neighborhood with a strong job market. According to real estate data, the presence of these jobs is a major draw for young professionals and a significant factor in the neighborhood’s popularity. Some notable companies with a presence in Cabbagetown include Sun Life Financial, Manulife Financial, and the Hospital for Sick Children.
Overall, Cabbagetown is a neighborhood that offers a wide range of activities and attractions for residents and visitors alike. Whether you are looking for community events and festivals, parks and green spaces, restaurants, bars, and cafes, or excellent schools and educational institutions, Cabbagetown has it all. With a strong job market and a vibrant community spirit, it is no wonder that Cabbagetown is one of Toronto’s most popular neighborhoods.
Transportation and Accessibility
One of the advantages of living in Cabbagetown is its accessibility to transportation options. The neighborhood is well-connected to various modes of transportation, making it easy to get around and commute to other parts of Toronto.
Access to Public Transportation:
Cabbagetown is served by the Toronto Transit Commission (TTC), which provides bus and streetcar services throughout the neighborhood. The 506 Carlton streetcar runs through the heart of Cabbagetown, providing easy access to downtown Toronto, the financial district, and other popular destinations. The neighborhood is also serviced by several bus routes, including the 65 Parliament, which provides easy access to the Bloor-Danforth subway line.
Major Highways and Roads:
Cabbagetown is situated just east of downtown Toronto and is bordered by two major highways: the Don Valley Parkway (DVP) and the Gardiner Expressway. These highways provide easy access to other parts of the city, including the Toronto Pearson International Airport, which is just a 25-minute drive away.
Bike Lanes and Walkability:
Cabbagetown is also a highly walkable neighborhood, with many amenities and services within walking distance. It is also well-connected to Toronto’s extensive network of bike lanes and trails, making it easy for cyclists to get around the city.
According to real estate market data, Cabbagetown’s walkability score is 92 out of 100, making it one of the most walkable neighborhoods in Toronto. This means that most daily errands can be accomplished on foot, which is not only convenient but also good for the environment and one’s overall health.
Cabbagetown’s bike-ability score is also high, with a score of 97 out of 100. This is due to the neighborhood’s proximity to bike lanes and trails, which provide safe and convenient routes for cyclists to travel throughout the city.
In terms of transportation and accessibility, Cabbagetown is a neighborhood that offers a range of options for residents. With its well-connected public transportation system, proximity to major highways, and high walkability and bikeability scores, Cabbagetown is a great choice for anyone looking for a convenient and accessible place to call home.
Factors to Consider When Buying or Investing in Cabbagetown
Investing in real estate is a big decision, and it’s essential to carefully consider all the factors involved. If you’re considering buying or investing in Cabbagetown, here are the steps you should follow to make an informed decision.
Determine Your Affordability and Budget:
The first step when buying or investing in Cabbagetown is to determine your affordability and budget. Cabbagetown is an upscale neighborhood with high-end properties, so it’s essential to determine how much you can afford to spend on a property in the area. This step will help you narrow down your options and ensure that you’re not wasting time looking at properties that are out of your budget.
Define Your Investment Goals and Property Type:
The second step is to define your investment goals and the type of property you’re looking for. Are you planning to live in the property, or are you looking to rent it out as an investment? Do you want a single-family home, a condominium, or a multi-unit property? Defining your investment goals and property type will help you narrow down your options and focus on properties that meet your specific needs.
Research Local Zoning and Regulations:
Once you’ve defined your investment goals and property type, the next step is to research local zoning and regulations. The city of Toronto has specific zoning laws that regulate the use of land and buildings, and it’s essential to understand these regulations before making an investment. Some properties may have restrictions on renovations, so it’s important to research local regulations and work with a real estate agent who is knowledgeable about the area.
Consider Neighborhood Trends and Future Developments:
The final step is to consider neighborhood trends and future developments. Is the neighborhood experiencing growth and development, or is it stagnating? Are there plans for new developments, such as condos or commercial properties, that could impact the value of the area? Understanding neighborhood trends and future developments will help you make an informed decision about your investment.
Conclusion
Cabbagetown is a unique and vibrant neighbourhood that offers a small-town feel in the heart of one of Canada’s largest cities. The area’s strong sense of community, beautiful parks, and charming local businesses make it an attractive option for homeowners and investors alike.
While the real estate market in Cabbagetown can be competitive, with limited supply and high demand, working with a real estate professional can help you navigate the market and find properties that fit your budget and investment goals.
Investors or buyers should also consider local zoning and regulations, as well as neighbourhood trends and future developments, when considering buying or investing in Cabbagetown. With its unique charm and strong sense of community, Cabbagetown is an ideal neighbourhood for those who want to enjoy the best of both worlds.
