- Related Article: Hello Buyers Market!
If you’ve been following recent real estate news for Toronto, Vaughan and the GTA, you may have heard that our condo market is experiencing a slowdown. To help illustrate these changes, here are some Toronto Real Estate charts that clearly paints the markets picture.
It takes almost twice as long for a condo to sell than it does for
a low-rise property (detached/semi/towns) at just over 4 months.
The low-rise market (detached/semi/townhomes) are still seeing prices surge whereas the high-rise market (condos) has seen prices stagnate and even start showing some signs of weakness.
Market timing is everything, and if you’re not following closely, you could miss out on what could end up being a great time to jump into the buyers seat and seize the opportunity that a buyers market could offer first-time buyers, real estate investors and those lucky enough to be purchasing at the right time.
If you have any questions about the condo market or if you have any real estate related questions, please don’t hesitate to contact me.
START YOUR JOURNEY HERE OR 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 real estate team. You can find him on Twitter, YouTube and Google+. For over 10 years, Ilan has provided more than 1400 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.
