In the first two months of 2014, apartment and townhouse condo sales have increased 28% from last year.
From January 1 to now, apartment listings are up 17% and townhouse listings are up 4%. January and February of this year, saw apartment prices at an average of $283, 400, and townhouse prices at an average of $309,700. Overall, it’s an increase of over 12% in average price from the same time last year.
“Consumers who are in the market for single family homes priced below $300,000 do not have many options, and when product does become available, it typically does not stay on the market for long,” says CREB® President Bill Kirk. “However, nearly 54 per cent of the new condominium apartment listings this year are priced below $300,000, which is providing options for consumers looking for affordable product.” – CREB
To read the full statistics package from CREB, check this link. And you can alway contact us anytime with questions about the condo market.
