The condo market is bouncing back according to the Toronto Regional Real Estate Board (TRREB). While overall sales in the Toronto real estate market are down 15 per cent from the same time last year, 1,756 condo apartments exchanged hands in July, according to TRREB’s latest market report. That flurry of activity brought the average Toronto condo price up to $715,977, nearly five per cent m...Read More

Greater Toronto condo apartment slipped a little lower. TRREB reported the benchmark condo apartment price fell to $639,400 in July, down 0.5% ($3,200). Compared to last year, the price of a condo apartment is 8.1% ($48,129) higher. Still a heck of a gain on an annual basis, but the monthly drop took a big honkin’ chunk of profits with it. Contact Mark at Condopitch for your next purchase...Read More

Toronto’s average sold price for July 2021 was $1,062,256. Breaking down into categories, detached homes led the way in terms of year-over-year price growth, increasing 21.7% to end at $1,405,478. However, detached homes also faced the largest drop in sales activity, with 26.4% fewer sales year-over-year. Semi-detached home prices increased 12.2% year-over-year to an average price of $1,027,...Read More

Metro Toronto house prices have accelerated significantly in the past few months, which has pushed more potential home buyers out of the detached house market. Condo apartment values have not kept pace with house prices. During the pandemic, people upsizing were the first wave of buyers. They needed more space to work from home and segregated spaces for two parents to work and kids to learn. Foll...Read More

With COVID-19 vaccines here, the spring of 2021 should see a strong resurgence and demand for condos within the Toronto real estate market. So the advantage of buying now is that new condo prices are still quite competitive as developers are more interested in attracting demand than over-pricing units. Also the rental market is up and now is the best time to get into your next lease at current p...Read More