Square One Condo Market January 2017 – Prices at an all time high!
Square One Condo Market January 2017 is drastically different from the same time last year. In fact, even in Spring of 2016 we hadn’t witnessed any spike in Square One Mississauga condo prices.
In April 2013, I had sold a unit at Solstice condos at 225 Webb Drive for $248,000. The price increased by 5.5% per year from 2013 to 2016. This is how the Square One real estate market had been behaving for the past 10 years or so. But surprisingly, Square one condo prices have jumped as high as 10% on an average in the past six months alone. I am expecting this trend to continue well through 2017.
A Spike in Square One Condo Prices
Square One condo prices started seeing a spike sometime in late Spring/ early Summer of 2016. There has been no looking back since. Square One condo prices have grown substantially in the past one year, by about 15%. Case in point, my team recently sold a suite at 225 Webb Drive at full price for $289,000, that too within 5 days of listing! The condo suite is 630 sq ft in size, bringing the current price of a Square One condo unit to $458 per sq ft. There are a lot of other things to know when we talk about price per square foot. But this is definitely one of the record sales price for a Square One condo for sale.
This 225 Webb Drive condo has been purchased by one of our own buyer clients. This is not typical but happens often. We list many condos for sale in Downtown Mississauga. We also have a huge database of buyer clients who are looking to buy their first home or condo, or a second investment home or condo. When we are able to match the needs of our buyer clients with one of our own listings, we represent both the property seller and the buyer. However, we promise fair market value for both our seller and buyer clients. And market conditions control the fair market value of a Mississauga home or a condo for sale.
Square One Condo Listings For Sale
Here are some of our other Square One condo for sale listings: a 2-bedroom, 2-washroom condo suite at 330 Burnhamthopre Rd W, a 2-Bedroom, fully renovated suite at 33 Elm Drive and a 2-storey live and work condo apartment at 3939 Duke of York.
Square One Condo Market in 2017
$450-$470 per sq ft is the trending price range for newer Square One condos in January 2017. In my opinion, we can expect this to grow by 1% to 2% each month in 2017. It will be interesting to watch how our prices will grow in 2017. I will not be surprised if we see our resale prices touch $500 to $550 price per square by the end of 2017.
Some Sold Square One Condos in 2016