Condo Market Update
By Kenny Chan
Sales Representative
City of Toronto Condo Apartments
- 0 bedroom (studio/bachelor) units continue to be very volatile, and the average price has dropped monthly since August 2020. The average price is now just under $400,000.
- 1 bedroom units increased in price from April to July but have dropped a marginal amount since then. From the peak in February to November, it was about an 11% reduction in price.
- 2 bedroom units have similarly dropped 11% from their peak in February to November.
City of Toronto Condo Townhouses
- Demand is still high and prices have been steady or rising
Markham Condo Apartments
- 1 bedroom units have had steady prices for the past 7 months
- 2 bedroom units have been more volatile than 1 bedroom units
Markham Condo Townhouses
- Demand is still high and prices have been steady or rising
Bottomline
With vaccines being rolled out globally in 2021, I expect a full recovery for condo apartments, but certainly there will continue to be volatility in the latter part of 2020 till mid 2021.
Feel free to connect with us at any time! We love helping our clients get exactly what they're looking for and we can help you too...
Send us an email or pick up the phone and call. We look forward to hearing from you! :)
Office: 905-472-7155
