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🔥 The townhome is quickly becoming the new detached 🏠 – affordability💰.

Updated: Feb 17, 2021

The Condo market is currently a buyer’s market due to stronger supply, particularly in Toronto and Peel. If you’re a first-time home buyer there's a window of opportunity to get into the market and own a Condo. 🌆

The market for detached homes still has a limited supply creating a highly competitive market with multiple offers resulting in accelerated price growth. This means that if you own a detached, semi-detached, or townhome and are thinking about downsizing or upsizing this is your opportunity to sell for the most amount of money in the quickest time.

The average selling price for all homes combined will eclipse the $1M mark for the first time. With townhomes nearing $1M and detached homes selling for over $1M when looking for affordability, space, and autonomy a townhome is a great option. Looking ahead we’ll see newcomers headed into the GTA which will continue to support the demand for both ownership and rental housing.


Figure 1 - The detached 2017-2021. Figure 2 - The townhome 2017-2021

Click below to download the historical sale prices for detached and townhomes. 🏠

The Townhome 2017-2021
.pdf
Download PDF • 837KB
The Detached Home- 2017-2021
.pdf
Download PDF • 837KB

Real Estate is the long game. Historically prices continue to rise so when you purchase a property today your money will appreciate and your equity will grow thus building your wealth.


FORECAST

The avg selling price in January 2021 was $929,699 representing a 13.5% increase year over year. Home buying intentions will persist in 2021.

If you’re considering selling your home or curious about it's value, give me a call and I’ll prepare a CMA for you. If you’re thinking of buying a new property I’ll share with you current listings in the area of your interest and guide you through the process.


Your Friend in Real Estate,

Realtor - Newmarket - C IVY
C IVY and start packing.

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