Tyler Tim Realtor

There may be many factors behind a strong growth  purchasing power towards condominiums, but the following are the three main reasons: o    Demand for attractive downtown neighbourhoods that are walk-able and have ample access to transit. o    Younger and senior demographics want to live in location-efficient neighbourhoods to reduce commuting struggles. o    The challenge of finding an affordable single-family home in central downtown Toronto. The demand for condos in the GTA have been increasing whether it be ranging from expensive single-family homes to delayed childbearing, all of them are interested in purchasing or renting a condominium. The speed of the construction has been faster than demographic needs. However, several other factors are increasing as well which will thereby slow the construction process. Some of the factors include higher traffic and transit congestion, which draws people to live clos...

The housing market in the GTA has seen a great increase in an annual period. Last year at this time the average selling price was upwards of  $540,000. Looking ahead to present day, the current average selling price for May was now $585,000. Condo's seekers were on the rise as well, as those who were essentially pushed out of the housing market due to steep prices, didn't mind settling for a condo. Condo prices in the month of May for Toronto were upwards of $400,000. Overall the unit sales were up for both condos and homes as well; Houses Increased 13% Condos Increased 8.4% Active Listings Decreased 9% With the amount of active listings down, this reads competition for any new house and condo buyers. The increase in bidding wars between buyers and prices going well above inflation. Town-homes and semis still saw the most sales through their affordability for buyers.  In looking at the months ahead if your a buyer, now is the time to buy as the average sale pric...