January 2022
With all the hype surrounding home sales these days everyone loves to know what their home is worth
On average prices across the GTA for all home types are up almost 30% compared to January of last year(2021).
With prices of these home types on the rise many home buyers have converted to condominium buyers.
With the demand for condos strengthening, average prices have gone up almost 25% compared to January of last year.
The average price of a condo in the Great Toronto Area is now almost $750,000.
New listings were down by a similar annual rate -15.5% as sales.
Because sales and new listings moved in relative lock step, active listings at the end of January, the lowest level in more than two decades.
If you would like any information about what's happening in your immediate neighbourhood please never hesitate to reach out to me
With prices appreciating at an above average pace many investors and buyers are looking to new condominium developments.
The deposit structure and buying procedures are very attractive due to the construction timeline of such projects.
If you are looking to learn more about the buying and investing opportunities new construction presents, please do not hesitate to contact me.
I wish you all the very best and a very successful 2022 and I look forward to connecting with you again soon.
Know that I am only a call, email or text away to assist with any of your real estate needs.