We are now well into Q1 2019, and as we look forward at the Toronto Real Estate market, based on data available from the Toronto Real Estate Board (TREB), we can certainly get a better understanding of the market direction, especially the Condo segment.
One of the most interesting developments has been that home prices firmed up slightly in the city of Toronto, as well as the surrounding GTA regions during 2018. This is largely due to the Condo segment, which outperformed the market in 2018. The Condo segment accounts for a large proportion of sales in Toronto, with a superior performance from a pricing perspective, registering an increase of 4.8% in sales volume.
Market conditions improved in the 2nd half of 2018 from both price and sales perspectives. The Toronto Condo segment in particular, saw an 11.2% price increase.
The average price of condominiums in the GTA also increased by 8.3%, while YoY price increase within Toronto was actually even higher, registering an increase of 8.9%. Evidently, the Condo segment emerged as the best performing segment, making the currently in-demand Condo segment an excellent real estate investment consideration.
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