Condo sales grow in the GTA

There was an 8.3 per cent increase in condo sales in the Greater Toronto Area in the last quarter of 2014 compared to a year earlier.

New figures from the Toronto Real Estate Board show 4,975 sales were completed in the last three months of last year with an average selling price of $367,199, up 3.8 per cent in a year.

TREB president Paul Etherington said: “Demand for condominium apartments remained strong in the fourth quarter of 2014.  While the supply of condominium apartments listed for sale grew in the fourth quarter, including a large number of newly completed units, the number of sales grew at a faster pace.  Competition between buyers increased in the condo market over the past year”.

The board says that there was no glut in supply as there were plenty of buyers, which has kept prices growing at above the rate of inflation. 
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
Pouch Cove, Villebois, Disley, Moose Brook, Franquelin

COMMENTS

  • by TLiving by Pascale Schwander 2015-04-20 1:30:05 PM

    That is good news. In the other hand I think there are enough condos now, especially high rises. We should work on having more trees and parks now.

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Have your investment plans changed for 2017?