In Toronto’s competitive real estate market, semi-detached homes are emerging as a preferred choice for many buyers in 2024. Offering a balance between affordability and space, these properties are especially attractive to families and first-time buyers who seek more than a condo but cannot stretch their budgets to afford a detached home.
The data reveals a notable trend: semi-detached home sales rose by 18% year-over-year in December 2024, with 514 units sold across the Greater Toronto Area (GTA). Prices, too, reflect their growing demand, with the average cost of a semi-detached home reaching $1.12 million, a 3.6% increase compared to the previous year.
Why Buyers Are Opting for Semi-Detached Homes
The appeal of semi-detached homes lies in their unique ability to bridge the gap between condos and detached properties. They offer more living space than condos, often including multiple bedrooms and private outdoor areas, making them ideal for families. At the same time, they are significantly more affordable than detached homes, which average $1.46 million in the GTA.
Location also plays a critical role. Semi-detached homes are often found in family-friendly neighborhoods like East York, Scarborough, and Richmond Hill, which provide access to schools, parks, and public transit. For buyers prioritizing lifestyle over square footage, these areas offer the perfect blend of convenience and community.
Lower interest rates have further fueled interest in semi-detached homes. The Bank of Canada’s recent rate cuts have reduced borrowing costs, allowing more buyers to qualify for mortgages and consider properties in this price range.
A Family’s Search for the Perfect Home
Jason and Priya, a couple with a young daughter, had been renting a two-bedroom condo in downtown Toronto while saving for their first home. In December 2024, they purchased a three-bedroom semi-detached home in Etobicoke for $1.14 million. The move offered them more space for their growing family, including a backyard for their daughter to play in, while remaining close to their workplaces.
“The semi-detached home gave us everything we wanted—space, location, and affordability,” Jason shared. Their decision reflects a growing trend among families prioritizing practicality and quality of life when navigating Toronto’s real estate market.
Challenges and Opportunities for Buyers
While semi-detached homes provide an appealing option, buyers must still navigate certain challenges. The average price of $1.12 million may be out of reach for some first-time buyers, particularly in high-demand neighborhoods. Buyers are encouraged to explore suburban areas like Milton, Ajax, and Brampton, where semi-detached homes are more affordable yet still offer access to transit and amenities.
With inventory levels for semi-detached homes increasing by 4.1% year-over-year, buyers now have more choices. This rise in supply has eased some of the competitive pressure, allowing buyers to negotiate better terms. However, acting decisively remains critical, as properties in desirable locations still sell quickly, often within 15-20 days of being listed.
Sellers: Meeting the Market’s Demands
For sellers, the rising demand for semi-detached homes presents an opportunity to achieve favorable outcomes. However, competitive pricing and effective marketing are essential in a market where buyers have more options. Properties that are well-maintained and staged to highlight their family-friendly features, such as open layouts, modern kitchens, and outdoor spaces, tend to attract higher offers.
Sellers should also emphasize the advantages of their neighborhood, such as proximity to schools, parks, and shopping centers, as these factors are often top priorities for buyers. Minor upgrades, like fresh paint or updated fixtures, can further enhance a property’s appeal and help justify a higher asking price.
Semi-Detached Homes in Comparison
Semi-detached homes occupy a unique niche in Toronto’s real estate market. Compared to condos, they offer significantly more space and privacy, making them better suited for families. While townhomes provide a similar middle ground, their shared walls on both sides and higher maintenance fees can make semi-detached homes more appealing. Detached homes, though ideal for many, remain out of reach for buyers on tighter budgets, solidifying semi-detached homes as the practical choice for many buyers in 2024.
The Human Element: Sellers Maximizing Their Returns
For Aisha, a seller in Scarborough, listing her semi-detached home in December 2024 proved to be a successful decision. She priced her three-bedroom property at $1.1 million and received multiple offers within a week, ultimately selling for $1.17 million. The sale allowed her to downsize to a condo closer to downtown while retaining a significant portion of her investment.
Aisha’s experience highlights how sellers can benefit from the rising popularity of semi-detached homes, particularly when properties are priced competitively and marketed effectively.
Semi-Detached Homes: Toronto’s Middle Ground
As Toronto’s real estate market evolves, semi-detached homes have emerged as a reliable choice for buyers seeking a balance between affordability and space. With their growing popularity reflected in rising sales and prices, they offer opportunities for both buyers and sellers to achieve their goals.
Looking ahead to 2025, semi-detached homes are expected to remain a strong contender in the market, driven by stable interest rates, family-friendly features, and accessibility. For those navigating Toronto’s dynamic housing landscape, these properties continue to stand out as a practical and appealing option.
