While there’s no such thing as a sure-bet in the GTA housing market, the seemingly never-ending increase in condo sales comes pretty close.
After months of solid performance, GTA condo sales grew another 6 per cent year-over-year during the first two weeks of July, as more and more buyers seek out the relatively affordable property type.
“Condos have done incredibly well,” Property.ca Leslieville partner Ara Mamourian tells Livabl, in a recent video. “For example, east of Yonge Street in the Canary District, the Distillery, Leslieville, Riverside, condos have seen double-digit gains compared to last year.”
Mamourian says that demand continues to outweigh supply, and that listings don’t stay on the market for long.
“We have condos that have 20 offers after being on the market 7 days,” he says. “The buyer pool has increased so much that supply hasn’t really caught up with it.”
For a closer look at how the condo market has performed over the past few months, and where it could be headed next, check out the video above.