If you’re considering buying or selling a condo in Toronto, it’s essential to know what’s going on in the market. In this article, we’ll provide three supporting points about the current state of the Toronto condo market.
As of 2019, the average price for a condo in Toronto was $615,000. This is a significant increase from the previous year when the average price was $560,000. The demand for condos in Toronto has been growing steadily over the past few years as more and more people are moving to the city. On the other hand, the supply of condos has not been able to keep up with this demand. This has resulted in prices going up and bidding wars becoming more common.
Considering a condo in Toronto, it’s important to be aware of these trends. Keep in mind that the average price is just that – an average. Depending on the location and amenities, you could end up paying significantly more or less than this. It’s also important to be aware of the competition. With so many people looking for condos in Toronto, you may need to prepare to enter a bidding war.