This year has started off with a fast pace for new condominium sales across the GTA, and there is every reason to believe the momentum will continue. The RealNet Canada Inc. statistics for 2015 show that it was the third-highest sales year in the past decade! Total new home sales were up 13 per cent from the 10-year average, and high-rise condominium sales were 11 per cent above the 10-year average.
Interestingly, the average price of a new high-rise condo was just slightly lower than in 2014, mainly due to the size of the suites getting smaller. Our developers are working hard to keep condominium prices attainable by designing for maximum space usage. The layouts are open concept with flexible spaces, and the possibilities are limitless.
As we manage sales for our Baker Real Estate Incorporated clients, we are experiencing an excited energy from purchasers that is likely to remain throughout the rest of the year. The popularity of condominiums across the GTA is a robust trend, and once again, we applaud our savvy buyers for recognizing value when they see it!