WEEKLY UPDATES

YOUR MARKET UPDATE FOR THE WEEK ENDING:  July 23rd, 2021 
 
The average Toronto condo price keeps on climbing, surpassing $720,000 in the second quarter of this year. A new report from the Toronto Regional Real Estate Board found that although condo sales dropped slightly this quarter compared to the last, prices continued to trend upwards, pushing the average Toronto condo price to $721,109. This is a significant increase from the first quarter of this year, which averaged $675,844, and is much higher than the current GTA average of $686,312.

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The number of condo sales over the past three months fell from 6,475 in Q1 to 6,053. But, as to be expected, Toronto was responsible for the overwhelming majority of the GTA’s 8,793 sales during Q2. The condo market across the entire GTA was slower to recover than other real estate market segments after a market drop last year, but the number of sales is expected to rise in 2022 as immigration picks up.

Condo apartment sales by price range (all areas)

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Bosley Real Estate Ltd. is a full-service boutique brokerage operating in Toronto, Muskoka, Niagara-on-the-Lake, Port Hope and Cambridge, Ontario since 1928. We have three centrally located offices in Toronto and over 250 sales representatives selling and leasing homes and condominiums in all the vibrant communities we work in. Our brand is well recognized internationally thanks to our unique affiliation with Leading Real Estate Companies of the World. Our sales teams meet weekly to discuss market conditions, trending topics, and anecdotes that more accurately reflect the true temperature of the real estate market.
 
Do you have any questions on this week's market update? Curious about the current state of the real estate market? Give me a call at 416-219-6662 or fill out the form below and let's chat!
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Brian C. Mayer Sales Representative