December Stats Read Like Spring Stats

If I didn’t know any better I’d assume December was April. We were working on transactions right up until the New Year with multiple offers and extremely limited inventory to show. As I predicted in our recent blog post¬†condos did lead the way with major gains in West end condo prices but The East still trumps the west when comparing average condo price per square foot.

It’s not a surprise but most detached homes are way out of the reach of most buyers but the rise of the Townhouse has become a problem for those looking to the Townhouse as a house alternative. The average freehold townhouse is now fetching a million dollars (or a little less if 2 bedrooms). Some of those TH buyers are moving into larger condos (hence the major increase in 2 bed condo prices) or moving into rentals to save for a little longer. The action we’ve had on our most recent 2 bedroom listing is unprecedented. We’ll report the price after we sell tonight.

Fact: The market is positioned to continue this upward trend as we get deeper into 2017. What 2018 holds is a mystery at the moment but we’re looking at an aggressive year of appreciation for most property types with larger condos and townhouses leading the way.

Have a look at the info-graphic below and keep in touch if you have any questions.

Leslieville Riverdale Corktown Canary District Real Estate For Sale