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- Rock-bottom interest rates have amped up affordability. It’s never been cheaper to borrow, and the Bank of Canada has said the low-interest rates will be around until at least 2023. More people are taking advantage of the slump. With selection high, prices lower and less pressure and competition, people have been jumping in.
condos.ca/blog/posts/the-toronto-condo-market-is-hot-again-here-is-why
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Mar 15, 2023 · In last month’s Market Report, we compared the drop in prices over the past 12 months for low rise and condos across the 416 and 905 areas. The price drops ranged from 20+% to a low of 3.4% for 416 condos.
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May 29, 2023 · Some interesting new data on Toronto's condo market is shedding light on how speculative real estate investment in the city may be in for a change, as rising new condo prices paired with higher...
- Becky Robertson
Apr 30, 2024 · TRREB Releases 2024 Q1 Condo Market Statistics. The Greater Toronto Area (GTA) condominium apartment sales increased moderately in the first quarter of 2024 relative to the first three months of 2023.
Oct 17, 2023 · Those 850 condo sales in the 416 in September are less than half of what we saw in 2021, and represent only 55% of what we saw in 2020. Let’s look at the data graphically: As the green line shows, we started 2023 with the fewest sales in the month of January for the period 2018 through 2023.
Toronto, which accounted for almost two-thirds of total condo sales, the average selling price was $723,186 – down by 0.5 per cent compared to Q1 2023. “As first-time buying activity increases with lower borrowing costs later this year
Mar 8, 2024 · Condo Market Report. In February, Toronto home sales saw a yearly increase of 17.9% and a monthly surge of 32%. Additionally, new listings rose by 37% compared to last month and by 33.5% compared to the same period last year.
Condos in Toronto are down a relatively smaller 12 percent from their peak, or still 3 percent higher than the 2021 average. It’s true that the rise in condo rents was a bit more but that doesn’t prevent condos from not dropping on a year over year basis because rate hikes were massive.
