While 2020 presented as a whirlwind where Toronto real estate was concerned, the year ended on a high note, closing as the third-best year on record for home sales in the Greater Toronto Area (GTA).
And though, in early November, we cautioned downtown condo investors that it was not — then — the moment to strike, but rather to watch and wait, patience proves itself a virtue.
Indeed, the condo market — hardest hit amid the market changes caused by COVID-19 — looks to be well on its way to recovery.
According to the Toronto Regional Real Estate Board’s (TRREB) December data, through the GTA, the condo market saw 2,193 sales, making up 30.5% of the month’s total. What’s more, sales were up a whopping 75.4% year-over-year.
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By Kayla Gladysz