Sales Of New GTA Condos Soared Up 33 % From Last Year

Posted by Roman Bodnarchuk on Thu, Jul 03, 2014 @ 19:07 PM

The new home market in the GTA rebounded in May, with both the low-rise and high-rise sectors seeing a surges in sales. According to RealNet Canada Inc., there were 3,526 new houses and condos sold in the region last month, a 24 per cent increase from the 2,833 sales counted in May 2013.

High-rise sales soared up 22 per cent from 2013, making last month the third-highest May for condo sales in the last decade. The tally was also 11 per cent above the 10-year average. Low-rise sales stayed strong, rising by 27 per cent, though they remained seven per cent below the average for the decade.

sales of condos toronto 3Photo: Daryl Bruvelaitis/Flickr

The numbers were even more dramatic when you look at year-to-date sales. The first five months of 2014 saw low-rise sales total 7,516, an increase of 52 per cent over the same time in 2013. However, the total was actually a six per cent drop from the 10-year average.High rise sales amounted to 8,305, a 33 per cent spike year-over-year that was also 15 per cent higher than the 10-year average.

The low-rise sector saw a more significant rise in prices, with the Realnet Price Index increasing by five per cent year-over-year to $675,074. High-rises saw a 1 per cent boost, inching up to $437,773.

“Sales through the first five months of 2014 have shown that new-home buyers have confidence in the market,” said BILD President and CEO Bryan Tuckey, in the news release.

For more details, check out the charts below:

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Topics: Condo Sales Toronto, gta, condo project sales, GTA Housing Market, increase condo sales Toronto, condo sales and marketing

Grand Opening of CondoOutlet's New Flagship Retail Store!

Posted by Roman Bodnarchuk on Tue, Feb 14, 2012 @ 15:02 PM

We are pleased to annouce that tomorrow will be the grand opening of CondoOutlet's new flagship retail store in the heart of downtown Toronto. Location at 143 King St. E.

 CondoOutlet store, 143 King St. E.

Here you'll get to talk to a licensed realtor who'll give you an unbiased view on ALL the condos available for sale in Toronto's GTA right now. This is one of the biggest investments you'll make in your life and it pays to do your research with a CondoOutlet Genius before you start negotiating with developers. 

Our new King St. CondoOutlet Store hours will be Monday to Friday 10am to 8pm & Saturday and Sunday 12pm to 5pm. Contact us now for more information.


Topics: condooutlet, gta, retail store, 143 King St. E. Toronto, Condo Genius, New

Toronto Condo Rental Vacancy Rates Low?

Posted by Roman Bodnarchuk on Thu, Jan 19, 2012 @ 14:01 PM

Should landlords and investors worry about vacancy rates in the near future? According to Brad Lamb in an interesting article on vacancy rates in Toronto, the answer is no.

Three reasons why the future is not gloomy for landlords and investors:

  1. Toronto is a growing modern city. Apartment construction is almost non-existent in central Toronto. Toronto will need to keep developing to keep up with the demand.

  2. The condo market is replacing the old apartment market. 

  3. The existing rental apartments are dated and falling apart. Young professionals and families will be looking to rent new and updated units.

To read the full article click here.

To hear more expert condo advice from Brad Lamb, tune into the CondoOutlet TV Show produced by N5R every Monday and Thursday at 6:30 Channel 21.

Condo Tv ad site

Topics: investment toronto, brad lamb, investing, landlord, rates, gta, toronto, n5r, condo