By Ilan Joseph, Broker, ABR®, e-PRO®, AMP® | TopTorontoAgent.ca
February 18, 2014 | © All rights reserved
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PRICES ARE GROWING WHILE UNIT SIZES SHRINK
PRICES ARE GROWING WHILE UNIT SIZES SHRINK
- Average price per square foot of a newly built condo in Toronto has grown to $548/psf as of December 2013; compare that with figures from nine years ago at less than $300 per square foot.
- Average price of a newly built condo in Toronto is now just over $436,000; compare that with figures from nine years ago at just under $255,000.
- Average square footage of units being built in Toronto is shrinking to 796 square feet as of December 2013; compare that with figures from nine years ago at 850 square feet.
- Average resale price of a condo listed on MLS as of December 2013 was about $343,000; compare that with figures from nine years ago at $215,000.
If you have any questions about the preconstruction buying process or would like some information about the Toronto, Vaughan or Thornhill real estate market, feel free to contact me.
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CONTACT ILAN NOW FOR A MORE PERSONALISED SEARCH EXPERIENCE!
Ilan 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 1550 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.
