2020 Has been a year of shock for the Toronto Real Estate Market, pretty much like 2019. If you remember the days of 2016/2017 when homes were selling over asking with 20 offers, prepare yourself for a similar ride this 2020. Right now being a buyer in the market for condos/freehold homes is a nightmare. With inventory levels extremely low, we’re seeing properties selling in multiple offer situations leaving many buyers behind and hopeless to find their dream home in Toronto.
Downtown Condos are currently on fire. Depending on where, we’re seeing pricing going for $1200-1400/SF on suites in areas like Peter Street, King Street West, Queens Quay and even reaching $2000/SF in areas like Yorkville or Bay and St.Joseph.
High-end real estate is also projected to grow stronger going forward.
Currently anything at Yonge and Sheppard that is half decent ranges between 900-1100 Per Square Foot which is priced very similar to Yonge and Eglinton and the Mid-Town areas.
Pre-Construction condos in the Downtown core are selling around 1200-1600/SF and even depending on some areas going for over $2000/SF
Want to learn where to currently find the best value in Toronto that hasn’t gotten to the $1000/SF range? There are some hidden projects in Toronto currently selling at $800-900/SF with tons of room for appreciation in price and we have just the solution before pricing here comes up like the rest of the GTA.
You can also check our observations in 2018, and see how the market has changed since.