Discovering Runnymede-Bloor West Village: A Guide to Living in One of Toronto’s Most Charming Neighbourhoods
Runnymede-Bloor West Village is a quaint and charming neighborhood located in the west end of Toronto. The area is known for its tree-lined streets, historic homes, and lively community events. The neighborhood is bounded by the Humber River to the west, Runnymede Road to the east, Annette Street to the north, and Bloor Street to the south. The area is easily accessible via public transit, making it a popular choice for young professionals and families alike. In this article, we will explore the real estate market in Runnymede-Bloor West Village, highlighting the neighborhood’s highlights, transportation and accessibility, and factors to consider when buying or investing in the area.
Real Estate Market in Runnymede-Bloor West Village
Runnymede-Bloor West Village is a popular and affluent neighborhood located in the west end of Toronto. The neighborhood has a rich history and is known for its tree-lined streets, charming historic homes, and vibrant community events. The area has seen steady growth in the real estate market over the years, with many buyers looking to invest in this desirable location.
Current Real Estate Market in Runnymede-Bloor West Village:
The real estate market in Runnymede-Bloor West Village is currently experiencing a strong seller’s market, with high demand and limited supply of available properties. According to the Toronto Regional Real Estate Board (TRREB), the average selling price of a home in Runnymede-Bloor West Village in 2021 was $1,445,930, representing a 13.5% increase from the previous year. This trend is expected to continue in 2022 and beyond, with an anticipated increase in both demand and prices.
Average Housing Prices and Trends:
The average housing prices in Runnymede-Bloor West Village vary depending on the type of property. Detached homes are the most common type of property in the area, and they typically sell for an average price of $1,850,000. Semi-detached homes are also popular in the area, with an average selling price of $1,300,000. Condos and townhouses are less common in the area, but they can still be found at an average price of $800,000 and $1,200,000, respectively.
Over the past decade, the average selling price of homes in Runnymede-Bloor West Village has seen a consistent upward trend. According to TRREB data, the average selling price of a home in 2021 was $825,924, representing a significant increase of 99.9% over the past ten years. This trend is expected to continue in the coming years, with an expected increase in the average selling price of homes in the area.
Types of Properties Available in Runnymede-Bloor West Village:
Runnymede-Bloor West Village offers a variety of housing options to buyers, including detached and semi-detached homes, townhouses, and condos. The area is known for its historic homes, many of which have been restored and renovated to their original charm. Some newer developments have also been built in the area, including luxury condos and townhouses.
Detached homes are the most common type of property in the area, and they typically offer more space and privacy than other types of properties. Semi-detached homes are also popular in the area and offer a more affordable option for buyers. Condos and townhouses offer a low-maintenance lifestyle and are ideal for those looking for a more urban living experience.
In recent years, there has been a trend towards smaller, more affordable properties in the area. This is in response to the rising cost of housing and the desire for more affordable options. These smaller properties are often found in the form of condos and townhouses.
Overall, the real estate market in Runnymede-Bloor West Village is expected to remain strong in the coming years, with an anticipated increase in both demand and prices. Buyers can expect to find a variety of housing options, including historic homes, newer developments, and more affordable options.
Neighbourhood Highlights
Runnymede-Bloor West Village is a highly sought-after neighborhood in Toronto, known for its vibrant community, rich history, and plethora of amenities. In this section, we will explore some of the key highlights of the neighborhood, including its community events and festivals, parks and green spaces, restaurants, bars, and cafes, as well as its schools and educational institutions.
Community events and festivals:
The Runnymede-Bloor West Village community is known for its lively community events and festivals, which bring together residents and visitors alike. One of the most popular events in the area is the Bloor West Village Toronto Ukrainian Festival, which takes place every year in September. This festival celebrates the Ukrainian culture and features live music, traditional dance performances, and delicious Ukrainian food.
Another notable event in the area is the Toronto Veggie Parade, which takes place every year in May. This parade celebrates plant-based living and promotes the benefits of a vegan lifestyle. The event includes a parade, live music, and a variety of food vendors offering vegan options.
Parks and green spaces:
Runnymede-Bloor West Village is home to several beautiful parks and green spaces, providing residents with ample opportunities to enjoy the outdoors. One of the most notable parks in the area is High Park, which covers over 400 acres and is one of Toronto’s largest parks. The park features numerous walking trails, picnic areas, playgrounds, and sports facilities, as well as a zoo and a beautiful cherry blossom grove.
Another popular park in the area is Rennie Park, which features a playground, sports fields, and a community garden. The park is also home to the Rennie Park Farmers’ Market, which takes place every Saturday during the summer months.
Restaurants, bars, and cafes:
Runnymede-Bloor West Village is a food lover’s paradise, with a diverse range of restaurants, bars, and cafes to suit every taste and budget. Some notable eateries in the area include Nodo, an Italian restaurant known for its delicious pasta dishes, and Patisserie 27, a popular bakery that offers a range of French pastries and desserts.
The neighborhood is also home to several bars and pubs, including Bryden’s, a cozy local pub that offers a great selection of craft beers and pub fare.
Schools and educational institutions:
Runnymede-Bloor West Village is home to several excellent schools and educational institutions, making it a popular choice for families with children. Some notable schools in the area include Runnymede Collegiate Institute, a public high school that offers a range of academic and extracurricular programs, and The Bishop Strachan School, a private all-girls school that is renowned for its academic excellence.
In addition to these schools, the area is also home to several preschools and daycare centers, providing parents with a variety of options for childcare.
Job Market in Runnymede-Bloor West Village and Toronto:
The job market in Runnymede-Bloor West Village is diverse, with many employment opportunities in a variety of industries. The neighborhood is located in close proximity to downtown Toronto, which offers additional job opportunities. In 2022, the unemployment rate in Toronto was 6.9%, which is slightly higher than the national average of 6.5%. However, the job market in Toronto has shown steady growth over the years, with an average job growth rate of 2.4% per year.
Strong Companies Present Here
Runnymede-Bloor West Village is home to several small businesses, as well as larger corporations. The neighborhood’s proximity to downtown Toronto makes it an attractive location for businesses looking for a central location. Some notable companies in the area include:
- Home Depot – The Home Depot Canada headquarters is located in the neighboring community of Etobicoke, which is just a short drive from Runnymede-Bloor West Village.
- Canadian Tire – Canadian Tire Corporation, Limited, a retail company that specializes in automotive, hardware, and home products, has a large distribution center located in the neighboring community of Rexdale.
- Humber River Hospital – Humber River Hospital is a leading acute care hospital located in the neighboring community of Downsview. The hospital employs over 3,000 people and provides a range of healthcare services.
- Toronto Pearson International Airport – Toronto Pearson International Airport, which is located just a short drive from Runnymede-Bloor West Village, is one of the largest airports in Canada. The airport provides employment opportunities in a variety of industries, including aviation, hospitality, and transportation.
Job Growth in the Real Estate Industry
The real estate industry in Toronto has shown steady growth over the years, with an average job growth rate of 2.2% per year. The industry provides employment opportunities in a variety of roles, including real estate agents, brokers, appraisers, and property managers. The strong real estate market in Runnymede-Bloor West Village has contributed to job growth in the area, with many real estate professionals choosing to work in the neighborhood.
Overall, the job market in Runnymede-Bloor West Village and Toronto is diverse, with many employment opportunities in a variety of industries. The neighborhood’s proximity to downtown Toronto and its strong real estate market make it an attractive location for businesses and professionals. As the job market in Toronto continues to grow, the neighborhood is expected to see continued job growth in the coming years.
Transportation and Accessibility
One of the key factors that make Runnymede-Bloor West Village a desirable neighborhood is its transportation and accessibility. The area is well-connected to the rest of Toronto through several modes of transportation.
Access to Public Transportation:
Public transportation is easily accessible in Runnymede-Bloor West Village, with several bus and streetcar routes running through the neighborhood. The area is served by the Bloor-Danforth subway line, which runs along Bloor Street, with stops at Runnymede, High Park, and Keele stations. These stations provide easy access to downtown Toronto and other parts of the city. According to the Toronto Transit Commission (TTC), the daily ridership on the Bloor-Danforth subway line was around 562,000 passengers in 2021.
Major Highways and Roads:
Runnymede-Bloor West Village is also located close to major highways and roads, making it easy to access other parts of the Greater Toronto Area (GTA). The neighborhood is located just south of the Gardiner Expressway, which runs along Toronto’s waterfront and connects to other major highways, including the Don Valley Parkway (DVP) and Highway 427. In addition, Bloor Street and Dundas Street, two of Toronto’s major arterial roads, run through the neighborhood, providing easy access to other parts of the city.
Bike Lanes and Walkability:
Runnymede-Bloor West Village is also highly walkable, with many amenities and attractions located within walking distance. The neighborhood is also bike-friendly, with several bike lanes running through the area. In recent years, the city of Toronto has invested in expanding its cycling infrastructure, with several bike lanes and paths added throughout the city, including in Runnymede-Bloor West Village. According to the city’s cycling network plan, there are currently over 580 kilometers of bike lanes and paths in Toronto, with plans to add an additional 120 kilometers by 2025.
Overall, the transportation and accessibility of Runnymede-Bloor West Village make it a desirable location for residents and investors alike. The neighborhood’s easy access to public transportation, major highways and roads, and bike lanes make it easy to get around the city and connect to other parts of the GTA. With ongoing investment in Toronto’s transportation infrastructure, it is likely that the area’s accessibility will continue to improve in the years to come.
Factors to Consider When Buying or Investing in Runnymede-Bloor West Village
When considering buying or investing in Runnymede-Bloor West Village, there are several factors to take into account. These include affordability and budget considerations, the type of property and investment goals, local zoning and regulations, and neighborhood trends and future developments. Let’s take a closer look at each of these factors.
Affordability and Budget Considerations:
One of the primary factors to consider when buying or investing in Runnymede-Bloor West Village is affordability and budget. As of 2022, the average home price in the neighborhood is around $1.3 million, which is a significant increase from previous years. However, the area still offers more affordable options than some of Toronto’s other high-demand neighborhoods. It is important to consider your budget and financial goals when considering purchasing a property in the area.
Type of Property and Investment Goals:
The type of property you choose to invest in will largely depend on your investment goals. Runnymede-Bloor West Village offers a range of housing options, from older homes to newer condos. Older homes tend to be more expensive but offer a unique charm and character, while newer condos may offer more modern amenities and a lower maintenance lifestyle. It is important to consider your long-term investment goals and how the property you choose will meet those goals.
Local Zoning and Regulations:
Local zoning and regulations can have a significant impact on your investment in Runnymede-Bloor West Village. It is important to understand the zoning regulations in the area and how they may impact your investment goals. The city of Toronto has strict regulations on development and construction, which can impact the type of development that is allowed in the area. It is important to consult with a real estate professional to understand the current regulations and how they may impact your investment.
Neighborhood Trends and Future Developments:
Runnymede-Bloor West Village has seen steady growth and development over the years, and there are several future developments planned for the area. One of the most significant developments is the proposed redevelopment of the Runnymede Theatre, which could bring new residential and commercial space to the area. Other developments include the expansion of the Bloor-Danforth subway line, which will improve transit access in the area. It is important to consider these trends and developments when considering investing in the neighborhood.
Overall, Runnymede-Bloor West Village is a charming and vibrant neighborhood with a strong sense of community. While the area offers higher home prices than some other neighborhoods in Toronto, it is still considered relatively affordable compared to other high-demand neighborhoods. When considering investing in the area, it is important to carefully consider your budget and investment goals, as well as local zoning and regulations and neighborhood trends and developments. Consulting with a real estate professional can help you make an informed decision about investing in this charming neighborhood.
Conclusion
Runnymede-Bloor West Village is a charming and affluent neighborhood in Toronto, known for its tree-lined streets, historic homes, and vibrant community events. The real estate market in the area is currently experiencing a strong seller’s market, with high demand and limited supply of available properties. Detached and semi-detached homes are the most common type of property in the area, with condos and townhouses offering a low-maintenance lifestyle. The area offers a variety of housing options, including historic homes and newer developments, and is expected to remain strong in the coming years. The neighborhood is known for its lively community events and festivals, beautiful parks and green spaces, and a wide range of restaurants, bars, and cafes. The area is easily accessible via public transit, making it a popular choice for young professionals and families.
