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IN THE CONDO KNOW

~ Condo news and insights

IN THE CONDO KNOW

Daily Archives: November 19, 2018

GTA NEW HOME MARKET PICKING UP STEAM

19 Monday Nov 2018

Posted by Barbara Lawlor in Condominium

≈ Comments Off on GTA NEW HOME MARKET PICKING UP STEAM

According to the Altus Group September 2018 statistics released by BILD, the new home market in the Greater Toronto Area has picked up momentum. There were more sales and more project openings than there were in August. In addition, the gap between the benchmark prices for condominium apartments and single-family homes is closing. In September, that price for condos rose to $789,643, and for single-family homes lowered to $1,119,533. The discrepancy is largely due to a shortage of new homes across the board, including condos. According to BILD, a strong new home market has approximately nine to 12 months’ worth of inventory, but our condo market in September had only about five months’ worth.

Condos continue to dominate the market. In September, 1,494 of the 1,747 new home sales were condo apartments. The moral of the story is to get into the new condo market sooner rather than later. Look at how much return-on-investment condominium-owners have earned who purchased years, and even months ago.

To read the entire BILD news release with the Altus Group statistics, visit https://bit.ly/2z11FwU

 

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November 2018
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Welcome!

Welcome to the Baker Real Estate blog! We are delighted to bring you news and views on the condominium scene in Toronto, across the Greater Toronto Area and even around the world, as well as the trends that influence the industry. Stay tuned for posts by members of the Baker team and beyond.

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 9,759 other followers

Blog History

November 2018
M T W T F S S
« Oct   Jan »
 1234
567891011
12131415161718
19202122232425
2627282930  

Authors

Baker Twitter

  • @primont_homes brought phase 1 of SXSW to the ever-growing city of Vaughan! It’s a collection of condos and towns t… twitter.com/i/web/status/1… 2 days ago
  • We love how @Lifetime_Dev embraced history and is enhancing the corner of King and Dufferin. XO Condos is a shining… twitter.com/i/web/status/1… 3 days ago
  • We are honoured to be part of one of the 1st Toronto projects by @aoyuaninternational. T1 @ M2M is the 2nd phase of… twitter.com/i/web/status/1… 5 days ago
  • Just posted a video instagram.com/p/B5lKIsRnzLB/… 6 days ago
  • Just posted a photo instagram.com/p/B5lKCuRnLzN/… 6 days ago
Follow @bakerinc

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