property
Elmwood: the affordable suburb outperforming all its neighbours
Elmwood posted the strongest median price growth in West during the first half of 2026.
How we reported this
Elmwood recorded a 14 percent rise in median home prices to $312,000 between January and June 2026, outpacing every other suburb tracked by the West Real Estate Board.
The gains come as buyers priced out of central West districts shift toward established inner-ring neighbourhoods where entry-level stock remains available. Local agents report steady contract signings on three-bedroom homes listed between $280,000 and $340,000, a segment that has tightened since the Federal Reserve trimmed benchmark rates in March.
Buyers cite Elmwood’s direct access to the West River revitalization project along Maple Street and the new community centre opened last November at the corner of Birch and 14th. The suburb sits five minutes by car from the West Community College campus, which added 400 parking spaces this spring to handle increased enrollment.
Price data and sales pace
West Real Estate Board figures released 1 July show Elmwood’s median sale price reached $312,000, compared with $298,000 in neighbouring Hillside and $341,000 in Oakdale. Days on market averaged 19, versus 31 citywide. Twenty-seven homes closed in June alone, the highest monthly total for the suburb since 2022.
Three-bedroom properties on Cedar Lane and the 800 block of Elm Street accounted for most of the volume, with multiple offers reported on listings that carried recent kitchen upgrades. Investors have targeted blocks near the new transit stop at 12th and Pine, where rents now average $1,850 a month for updated units.
Next steps for buyers
Prospective purchasers should review listings through the West Multiple Listing Service before the next board report in October. Local lenders note that pre-approvals processed this month are clearing in under 10 days for properties under $350,000, giving prepared buyers an edge in the current bidding environment.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.