GTA 2021-Q2 Condo Apartment Sales
Wednesday Jul 28th, 2021Share
The Toronto Real Estate Board just released the 2021 Second Quarter Condo Market Report. There were 8,800 Condo Apartments Sold in the GTA, which is 155% up compared to the same quarter last year.
The Inventory of active listings is 1.5 month and the day on market to sell a Condo Apartment is 15 days.
Based on the report from Ipsos, 40% of buyers in 2021 would be the first-time buyers who most likely buy Condo Apartments. It means the demand for Condo Apartments will continuously increase in the coming months.
At the same time, the immigration and migration back to the cities from other provinces would also keep the Condo market very active in the next few months.
In the last 4 months the average price was $683,000 which reflected the price is very stable although the sales dropped 27% since March this year.
The City of Toronto is the major city which sold 69% of the total Condo Apartment Sales in the GTA.
When we looked at the Bedroom Types in Condo Apartments, 30% Sales were in 2 Bedrooms and 26% in One Bedroom plus Den.
When we compared the sales Year to Year, York region had 156% increase, followed by Peel region with 68% up, and the City of Toronto with 48%. City of Vaughan has 211% up in annual sales, followed by Richmond Hill 144% up.
If we look at the Monthly Comparison, Burlington had 19% up in Price and the Sales also dropped 19% at the same time. It was interesting that the New Listings in Burlington was reduced by 13.6% in June too.
In Toronto East the Sales was up 10.5% monthly and the sales in Vaughan and Richmond Hill were up 21% and 24% respectively.
If you look at the chart of the Average Price in Condo Apartments, Toronto East, Peel and Durham regions are one of the flavored areas that the first-time buyers would consider to buy.
If you want to know more about Condo Apartment and are planning on selling or purchasing, please give me a call or email.
I am sure I can provide you more information and most importantly… save your Time and Money to purchase your First home.
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