The two markets (houses and condos) within the Greater Toronto Area housing market …….

By
Real Estate Agent with RE/MAX Condos Plus Corporation, Brokerage

The two markets (houses and condos) within the Greater Toronto Area housing market …….

 

RealNet Canada Inc. and the Building Industry and Land Development Association’s research show that in February 2015.

1.     The average price of a new house in the Greater Toronto Area was $733,578 and this is a 12% increase over the previous year.

2.     The average price of a new condo, on the other hand, increased less than 1 per cent during the same time period, going up to $442,672.

 

The limited supply of land in the Toronto area is increasing the value of new single-family home development. Currently, there are no line-up of investors or their representatives to purchase in new condo projects; causing developers to keep condo prices low and to shrink the size of the condo units.

 

 

According to the Toronto Real Estate Association numbers for the first two weeks of March 2015, the same situation is happening in the resale market. Resale house prices went up 11% compared to last year, while condo prices remained almost the same.

 

 

This price situation between condo prices and house prices is to be expected given that in 2014 there were more than 15,000 new condo units built in Toronto, compared to about 1,200 single-family homes.

Posted by

                                                          ------------------------------------------

Real Estate Agent serving clients for the Toronto Downtown and Toronto Waterfront Area.

Residential and Investment Properties.

Rosalind Nicholas, ACCA,SRS,REALTOR®

e-mail:   Rnicholas@trebnet.com     Tel: 416 918 1972

RE/MAX Condos Plus Corporation, Brokerage, Toronto, ON, Canada.

http://www.youtube.com/watch?v=PMuLzqLe72M&feature=youtu.be

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Ontario York Region Toronto
Tags:
toronto condos
toronto on
toronto houses

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
4,064,791
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rosalind, great value increase and you have some healthy prices in Toronto.   Hope to see your lovely City sometime this year.  

Mar 23, 2015 12:52 PM #1
Rainmaker
4,064,791
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rosalind, sure love hearing the good news, and hope it continues throughout the summer!

Mar 24, 2015 07:35 AM #2
Rainer
386,646
Rosalind Nicholas
RE/MAX Condos Plus Corporation, Brokerage - Toronto, ON
Toronto Condo Real Estate Agent, Toronto ON

Yes Joan, it is still goods news for the Toronto housing market, in both the new projects and re-sale markets.

Mar 26, 2015 11:59 AM #3
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
386,646

Rosalind Nicholas

Toronto Condo Real Estate Agent, Toronto ON
Ask me a question
*
*
*
*
Spam prevention

Additional Information