It’s been a while so I thought I’d share something a bit *faux French accent* dramatique
When in reality, this is not so much daunting as it is expected. Somewhat.
Toronto condo prices have been SOARING esp over the past 4 years, from y’know, that somber spring of 2017 where we saw stricter rules dampen the house market. Again, somewhat.
..this is the seesaw, the teeter totter of the residential real estate market.
Swaying side to side, grounding each other, this is but the tango of condo & house prices. When people rush out in droves to suburbia for some covid-inspired extra air to breathe, what happens to the condos they’re fleeing from?
I’ll tell ya what. This January, it’s like we took a time machine allllll the way back to January 2019. Condo prices downtown are now averaging $674,089 now. Down over $102,000 from a year ago.
If you’ve been teetering on the edge of buying a condo –
feeling like prices are too high –
yet watching from the sidelines as they were shooting up even higher –
could these depressed prices actually be the break you’ve been waiting for?
Factoring in that sales up a whole 118%, this, buyers, is your market.
Not sure where to begin?
Peep condo neighbourhoods and prices (as of April 2020) here: