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Toronto Condo Market Report: 2014 Looks Great! Strong Fourth Quarter in 2013 as Condo Sales and Prices Continue to Increase

What's Happening in the Toronto Condo Market?  What are the Averages Prices - Is a 1 Bedroom Condo a Better Investment than a 2 Bedroom?  Check out the Stats.


Greater Toronto Area REALTORS reported the sale of 4,586 condominium apartments through the TorontoMLS system in the fourth quarter of 2013. This Result was up by 21 per cent in comparison to Q4 2012 when 3,789 condominium apartments changed hands. Both new listings of this home type during the quarter and active listings at the end of the quarter were down on a year-over-year basis.

  

Toronto Condo Prices Up 6.5%:   The average selling price for condominium apartments in the fourth quarter was $353,665 - up 6.5 per cent compared to Q4 2014. In the City of Toronto, where condo apartments account for approximately half of sales, the average selling price was up by 8.3 per cent to $381,008.

"If the market conditions in 2014 remain similar to what we have experienced in the last six month of 2013, we will continue to experience year-over-year price growth for condominium apartments about the rate on inflation. However, there was an increase in condo completions last year. The degree to which these units are absorbed will play a large role in dictating the pace of price growth," said Jasob Mercer, TREB's Senior Manager of Market Analysis.

Toronto Condo Prices - Chart below comparing 2013 prices with 2012.    It took an average 36 days on the MLS market to sell a Condominium in the Toronto, Mississauga, GTA area.   If your condo was on the market for more than 60 days and didn't sell, review the current "sold" prices in your area, compare your condition, floor level and exposure.  Call us for a free analysis.

Toronto Condo Market Report January 2014

Toronto and GTA Condominium Average Price Ranges

The average prices ranges in the last quarter of 2013 remained under $400,000.   The chart shows the highest demand in Condos was just under the $300,000 range, with Under $400,000 coming close behind.  While Builders have been offering up a variety of bachelor apartments, check out the charts for the demand by consumers.   The micro condo may not be a popular investment.   Toronto Condo Average prices in gta January 2014

 

Downtown Toronto Condo Prices 2014 January.   Breakdown of the Average Condo Apartment Price Ranges.   Check out the Average Price of a bachelor apartment in the Downtown area, you can still get into the market under the $300,000 price mark.   Statistics show the most popular Toronto Condo Floor Plan is however a one bedroom, with a One Bedroom Plus Den close behind.

The Average price of a Condo in the Downtown Core remains under the $400,000 range.

Downtown Toronto Condo Prices

Mississauga Condo Update:

Mississauga City Centre Core is were you find the highest density of Condo Apartments and highest volume of investors.

Is there a demand for Mississauga Bachelor apartments?   Not really - check out the Bachelor apartment stats below.

What is the best investment in Mississauga Condos - What floor plan is in the most demand.  Should you buy a one bedroom condo or a 2 bedroom condo?    These stats can help you decide.

As an Investor you should know the highest demand price range for a Mississauga Condo would be $300,000.  The highest demand floor plan is the one bedroom plus Den with surprisingly the 2 Bedroom Plus Den Plan coming in second place.  Bachelors and small one bedroom apartments have not gained much popularity during the last year of sales.

 

One Bedroom Plus Den is the most popular Mississauga Condo for this reports time period.

Before buying a Mississauga condo review the current statistics.   Call our Mississauga Real Estate Office today for more data 905-896-3333.

Mississauga Real Estate Condo Market

Thinking of Selling Your Mississauga Condo?  Think Sutton!  www.SuttonHomeValues.com

We also have a Full Service Rental Department.   We Help Landlords too!  Mississauga Real Estate Office 905-896-3333

Browse through our inventory at www.SearchMississaugaHomes.com or www.SearchTorontoHomes.com

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