The Greater Toronto Area new home and condo sales saw a busier than usual January, with overall sales up 65 per cent from last January, and 14 per cent above the 10-year average. Condo sales alone were up 33 per cent from last January, and 12 per cent above the 10-year average! Last year’s momentum is continuing, boding well for the months to come.
Adding to that momentum is pricing – the benchmark price for new condos was $925,209, which is up 15.1 per cent over the previous 12 months. Also, January was typical in that very few new projects launched, meaning remaining inventory decreased even more.
Overall, if you are thinking of purchasing a condo in the GTA, NOW is the time to do it, before prices go up again – which they will, considering demand exceeds supply. To read the entire BILD release, visit https://bit.ly/2uB5evB