There is no doubt that Toronto has become very expensive in 2019. Along with the cost…
The demand for new condos in Toronto continues to be at an all-time high. According to the Q4 2019 report by the Toronto Real Estate Board (TREB), the prices of condos increased due to competition between buyers. The prices of condos sold above the asking prices due to buyers offering to buy at much higher prices.
In addition, TREB also found that the prices of condos increased by 10.4% between Q4 2018 and Q4 2019. Initially, the average price of a condo in Q4 2018 was $558.733, but it then jumped to $616,591. And given with our prediction, it may continue to increase in the next few years. Many have anticipated that the housing market will begin to cool off a few years ago, but it seems as if it is not slowing down any time soon.
At Condo Royalty, we provide you with an overview of up and coming condos, as well as new pre-construction condos. One of the factors that affect the pricing of condos is the location it is in. Some of the most desired locations include CityPlace, close to Toronto’s Harbourfront, as well as Yorkville, which is within proximity to many luxury stores. Condo Royalty allows you to browse a selection of condos depending on the neighbourhood, and also includes other areas such as Mississauga and Vaughan to name a few.
As the prices of condos in Toronto continue to increase, now might be the time to buy before it increases any further. Condo Royalty gives you the option to look at pre-construction condos which are often less expensive but requires a little bit of patience until they are completed. The value of real estate will only continue to increase, if you want to view new condos, see floor-plans or find out other details, you can start your search by neighbourhood, developer or city in the navigation bar.
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