Condo Market Report Sellers Market Conditions Continued in Q4
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Greater Toronto Area Condo Market Report January Q4 2018, Steve Moran, Remax
Demand for condominiums remained strong in the fourth quarter. Intense competition between buyers and tight supply resulted in condos selling for an average $515,000 in the fourth quarter, up 17.9 per cent from a year earlier.
Despite seller's market conditions remaining in place for the condo market in the fourth quarter of last year this housing type remains top of mind for many first-time buyers.
I anticipate that the condo market will continue to be the strongest market in 2018 as new mortgage lending rules will force buyers into more affordable entry level housing options.
Thanks for watching, I would be happy to help you with your real estate needs. I can be reached at 416-949-1684 or you can visit me at http://www.stevemoranhomes.com.