Affordability is driving the increase in multi-unit home sales, as resale condos and townhomes in the GTA now represent nearly 37 per cent of home sales.
The TREB reports the average selling price for condominium apartments in the Greater Toronto Area has increased by 5.4 per cent year-over-year to $561,338.
According to the Building Industry and Land Development Association (BILD), the prices of new homes in the GTA showed few signs of slowing down in February.
Canadian Apartment Magazine
According to a new report from CMHC, the share of condominium apartments owned by non-residents remains low in the 17 Canadian Census Metropolitan Areas (CMAs) surveyed.
GTA new home sales slowed in July as the supply of new homes continued to fall and prices of available homes continued to climb, announced BILD.