condos in Toronto

Higher-End condos in Toronto continue to reel in buyers

Higher-End condos in Toronto continue to reel in buyers: Condos being the only housing type in GTA market that exhibited significant increase in prices over the last year, they all have proven that their desirability and their worth as “starter homes” in Canadian real estate market which is characterized by country’s highest real estate prices.

Latest numbers are compiled by an information portal on Zoocasa which shown that much of the activities are on the higher end of real estate market. Analyzing TREB sales figures and data since 2016, Zoocasa found that “condo sales in higher range of prices that have been increased substantially and condo sales in lower price ranges have been dropped.”

According to studies by Zoocasa, Zoocasa indicates that affordable units are disappearing rapidly, with paying more than $500,000 to buy a condo apartment in GTA.

Categorizing by range in prices, below are the home sales trends for condo market of Toronto:

$199,999 or below
– A decline of 89% from 115 sales to 11 sales

$200,000 – $299,999
– A decline of around 89% from 736 home sales to 81 home sales

$300,000 – $399,999
– A decline of 58% from 1,001 to 447 home sales, with decrease of 37% in the past year from 710 to 447 home sales

$400,000 – $499,999
– An increase of 6% from 593 to 660 home sales

$500,000 – $599,999
– An increase of 81% from 272 to 486 home sales

$600,000 – $699,999
– Drastic increase of 95% from 146 to 279 home sales