|Toronto Downtown Condos|
Toronto Condo Sales Return To Normal, Detached Home Market Stagnant
Everyone is talking about and watching the never ending Toronto Condominium Market.
Toronto home sales are suffering from higher average prices reaching a record high of $632,868 in 2012.
Compared to last year this represented an average price increase of 16 per cent and over the last 4 years a 44 per cent increase in price.
The Toronto Condominium Market recorded the fourth best year for Condo Sales since 2000.
Lowrise Home sales were down 29 per cent to 32,824 units with the GTA included.
The average price of a new Toronto Condo was $436,024 resulting in just a small increase of 0.4 per cent from 2011 according to RealNet.
Now the difference between the lowrise home price and the highrise Toronto Condo price hit a record in 2012 amounting to $196,844, double the long term average of $86,886.
In terms of Toronto Home Sales across the GTA, lowrise sales were just 26 per cent of the total market compared to 76 per cent for highrise Condominiums.
Ten years ago it was the opposite in Home sales with lowrise sales of 63 per cent and highrise Condominiums making up just 37 per cent of total sales.
Iris Li, RE/Max Toronto Realtor specializes in Toronto Condos both new and resale.
Let us help you find that new luxury Toronto Condominium or Toronto Home for sale.
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