Original Article via Livabl
The Toronto condo market never ceases to amaze! It’s not that amazing actually, it’s been proven time and time again that growing markets like Toronto don’t have to worry too much about their downtown condo / loft properties. Everyone want’s to live downtown; and more and more high profile jobs are moving to Toronto’s downtown core.
According to Zoocasa the Toronto condo market has again outpaced it’s low-rise home counterpart, with condo values jumping 11% over the past year with low-rise home values rising just 1%.
“New quarterly data from the Toronto Real Estate Board reveals the average [condo] unit price rose 9.7 percent year-over-year to $594,039 between July and September,” writes Penelope Graham, managing editor of Zoocasa, in the report. “Last month alone, the average unit fetched $615,582, up 11.7 percent, compared to a decline of 1.4 percent for detached home prices.” – Zoocasa