20 Oct 2011

Condo sales market red hot in September

The real estate boom in the Greater Toronto Area continues to grow by leaps and bounds, as a new report indicates many people are buying condominiums in the area.

The Building Industry and Land Development Association revealed recently that there were approximately 3,800 new homes and condos sold in the GTA last month, as sales of low-rise units increased 5 percent year-over-year and sales of high-rise residences surging 53 percent. Overall, total new home sales are ahead of last year's pace by 34 percent.

The September sales rate for condominiums set a record for the month, which most recently was broken last year.

Among specific regions, Paul Golini, BILD chairman, said property purchases have been rife outside the city, accounting for 46 percent of the total. In fact, in the York region, high-rise condo sales have tripled since last September and are up 145 percent year-to-date.

Because condo units tend to be smaller dwelling spaces than homes, renting a storage unit may be worthwhile for Torontonians who are downsizing. 

Be Sociable, Share!

Related Articles [3]

4 Tips For Fireproof Document Storage

March 3rd, 2017
We all have valuables that we would be devastated to lose in a fire. Some of them are keepsakes, some of them are worth a lot of money and some of them are important legal...

Why It's Important To Get Your Winter Tires

December 20th, 2016
As soon as temperatures drop below seven degrees Celsius, it's time to swap out your all-weather, or your summer, or whatever tires you have on your car and opt for winter...

2 Tips For Choosing The Right Packing Supplies

February 12th, 2016
Having a pre-prepared list of all of the packing supplies you will need to move your belongings into a storage unit or a new home will make the move much less stressful. For...

Leave a Comment

Recent Posts

Blog Categories


Subscribe to RSS Feeds
Essential SSL