Toronto Condo Sales Down 8% While 905 Condos Push Up 35% in October

Toronto Condo Sales Down 8% While 905 Condos Push Up 35% in October

By Ilan Joseph, Broker, ABR®, e-PRO®, AMP® | TopTorontoAgent.ca
November 6, 2013 | © All rights reserved

vaughan condo exteriorNew numbers coming in for October show the 905 region taking the lead in condo sales activity, up 35% from a year ago.

Much of the increase in condo sales stems from the lack of lowrise housing options like townhomes, semi-detached and detached homes, especially in the more affluent neighbourhoods of the 905 like Thornhill and Vaughan. This is a clear indication that despite the high demand for low-rise properties like semi's and detached homes, the condo market seems to be the only viable option for many GTA families looking to live in some of the 905's best neighbourhoods. Thornhill and Vaughan have seen a surge in condo sales activity as buyers, especially those who are newly married or purchasing for the first time cannot afford the surging cost of townhomes, semi's and detached. They are opting for a more affordable choice for their starter homes. Toronto has seen condo sales slow down by 8% since October 2012, largely due to the overbuilding seen over the past decade. The market is still stable, with prices holding relatively steady. Toronto is on pace to sell half the amount of condos it did just two years ago in 2011.

If you have any questions about the GTA condo market or would like some specific information about the TorontoVaughan or Thornhill real estate market, feel free to contact me.

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  first time home buyer toronto ontariotoronto real estate vaughan real estate for sale   IMG_0080 bwIlan Joseph is a Real Estate Broker with Sutton Group and is co-founder of a 10-person award-winning Toronto, Thornhill and Vaughan real estate team. You can find him on LinkedIn, Twitter, YouTube and Google+. For over 10 years, Ilan has provided more than 1500 buyers and sellers valued advice and service, enabling them to reach their real estate goals. He’s kind of like the Bruce Willis of real estate.     HOMES, ILAN JOSEPH, ILANJOSEPH.COM, THORNHILL CONDO FOR LEASE, THORNHILL CONDO FOR RENT, THORNHILL CONDO FOR SALE, THORNHILL HOMES FOR LEASE, THORNHILL HOMES FOR RENT, THORNHILL HOMES FOR SALE, THORNHILL REAL ESTATE FOR SALE, toronto, TORONTO CONDO FOR SALE, TORONTO HOMES FOR SALE, TORONTO REAL ESTATE FOR LEASE, TORONTO REAL ESTATE FOR RENT, TORONTO REAL ESTATE FOR SALE, VAUGHAN CONDO FOR SALE, VAUGHAN HOMES FOR LEASE, VAUGHAN HOMES FOR RENT, VAUGHAN HOMES FOR SALE, VAUGHAN REAL ESTATE FOR SALE