If we know one thing over here at Urban.Condos, it’s condos, and right now, the skyrise homes are hitting record sales levels.
The Building Industry and Land Development Association (BILD) says that August Condos in low, medium and high-rise buildings, stacked townhouses, and loft units — accounted for 3,162 units sold. This is up 35 percent come pared to last August and 129 percent above the 10-year average.
Toronto real estate agents were able to sell 1,168 condos in August, which is up over two hundred units compared to the 904 sold in the city last August.
The craziest growth happened in the Peel Region, which sits to the west of Toronto and includes the cities of Mississauga, Brampton and Caledon. Last August, only 127 condos were sold in the area. In 2021 the market offloaded 1037.
The average condo price in the area is $1,069,700, up 10 percent compared to last August.