January 2021
As we work through this pandemic, I am sure you are as surprised as I am of the stability of the Great Toronto Area’s real estate market.
Months of inventory is down to approximately one month, highlighting the lack of inventory of homes available for sale.
The limited inventory is reflected across all home types as the demand for condominiums has begun to rebound from it's softening during the last half of 2020.
Price growth was driven by the low-rise market segments, while the average condo apartment price was down in Toronto.
If we continue to see condo sales growth outstrip condo listings growth, we could start to see renewed growth in condo prices later this year.
With the limited inventory level of available homes for sale many buyers and investors have turned toward the purchasing of New Construction.
There have been a few new condominium sites already released this year with great success.
Our Brokerage has front of the line access with many of these projects, should you have any questions in regards to investing in real estate, please contact me.
It is always a pleasure to keep you updated on GTA's real estate market,
for an update more specific to your neighborhood please never hesitate to reach out.
I hope to catch up with you in person soon....