2018 Condos:
Big Picture

The desire to own The average Toronto condo, affection-ately called a shoebox by many Torontonians, went up in price by about a hundred grand last year. This is because sellers played hard-to-get: not as many condos were available for sale in 2017 as there were in 2016. The fact that condominiums apparently maintained their appeal and popularity among the city’s yuppy crowd also helped these ever-so-wanted shoeboxes to cling on to the appreciation they enjoyed during the first two quarters of 2017.

Good news As condo owners continue to cash in at premium prices, they have more to spend when they trade up to larger condos and houses. Could this be an indicator that the market for single family homes will also regain the appreciation it lost? Maybe. Regardless, if you are planning a move this year, call me and we will talk about the timing and strategy that will work best for you.

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