With the COVID-19 pandemic somewhat behind us with most Canadians in the GTA having both vaccine shots and the restrictions easing up, home sales are way up.
According to Zoocasa, Sales of condos soared above others in May with a whopping 170 percent year over year, which is 20 percent above single-family homes. The average condo unit in the Greater Toronto Area (GTA) was $682,280, while a detached home was $1,415,698.
A new report of the average condo prices, sales, listings, and buying conditions between April 2020 and May 2021 revealed the regions of Simcoe, Durham, and Halton have all outpaced the City of Toronto.
The fastest-appreciating condo values is Simcoe County where the prices jumped to an average of $605,980. Durham County saw an increase of 46 percent between April 2020 and May 2021 for an average unit price of $531,222. In Halton, prices jumped by 22 percent with a unit selling for $615,750. The City of Toronto the average unit cost $716,976.