The range between minimum price and maximum price is incorrect. Please submit the correct range.
Let me put my knowledge and experience to work for you. I am a professional who strives on providing dedicated, full service to all my clients. For all your real estate needs, please contact me today for your private market consultation. I specialize in the Vaughan real estate market as well as surrounding GTA. Including the following areas:
#302 -200 QUEENS QUAY E Toronto, Ontario
Large Industrial Space Available. Ideal For Temporary Shop, Office Or Storage. Short-Term Lease Options Are Available....
#15 -400 CREDITSTONE RD Vaughan, Ontario
Spacious 2nd Floor Office Space Located In High Demand Creditstone & Hwy 7 Area. Ample Parking. 2nd Floor Office ...
#701 -15 BRUYERES MEWS Toronto, Ontario
Welcome To Ltd! Mid-Rise, Boutique Condo Living In The Heart Of This Synergetic Fort York Neighborhood. This North ...
Greater Toronto Area
In the Greater Toronto Area, the aggregate price of a home in 2021 is forecast to increase 5.75 per cent year-over-year to $990,300. During the same period, the median price of a standard two-storey home is expected to rise 7.5 per cent to $1,185,800, while the median price of a condominium is forecast to increase 0.5 per cent to $600,800. The relatively flat median price projection for the condominium segment reflects a modest increase in median price for condominiums in the 905 area, offsetting a slight dip in median price for the City of Toronto.
“Single family homes remain in high demand. We expect lighter activity as we near the winter holidays but if inventory does not improve in early 2021, we could have another year of strong price appreciation,” said Debra Harris, vice president, Royal LePage Real Estate Services Ltd. “Low inventory is expected to put upward pressure on prices but we could see low unit sales if there isn’t product to sell.”
Performance within the condominium segment is expected to remain varied with higher demand for larger units in the 905 area. Harris added that while there has been a recent surge in condominium listings, the historically starved Toronto condo market can withstand an increase in condo supply without significantly impacting price in the short term. With the federal government’s new and aggressive immigration targets as well as the expected return of rental demand from university students in the fall, resale demand for condominiums should be significantly higher in the second half of the year.
“Many young people returned home to save money during the pandemic and we expect them to want to get back into city life when the vaccine becomes available. The question is whether consumer confidence in the condo market will be healthy given the surge in listings. The reality is that current inventory is much healthier than where we were last year,” said Harris. “For the many young professionals who were discouraged by strong competition in the condo market in previous years, this window may be their opportunity to find a home they can get excited about living in.”