Square One Condo Prices June 2017
Square One Condo Prices June 2017 shows a healthy and optimistic picture overall as opposed to the low rise residential home categories. We know that townhouses, semi-detached homes and detached home sales in Mississauga are still struggling post the #FairHousingPlan announcements by the Ontario Government in April of this year. Our May 2017 real estate market update also highlighted this and other challenges.
A somewhat lesser known fact is that despite a gloomy outlook for the GTA real estate market, condominium sales are well on the rise all across the GTA. Square One condos have done exceptionally well since the start of the year. In fact, the new Housing Rules did not dampen condo sales at all in the downtown core of Mississauga.
At the end of June 2017 or Q2, we have witnessed 13% plus growth in Square One condo prices from March 2017, or Q1 (based on condo buildings reviewed in the chart below).
There were a total of 8,223 condominium apartment sales reported through the MLS System between April and the end of June 2017. While this number was down 8% as compared to the same period last year, new listings of condo apartments were up almost 1%.
And now for the real icing on the cake – the average selling price for condominium apartments across the TREB area increased by a whopping 28.1 per cent compared to Q2 2016.
As per TREB officials, condo apartments will continue to gain in popularity with home buyers over the next year since many buyers are turning their attention less expensive forms of housing ownership housing. If you are interested in a more detailed analysis, you can also read the full TREB Condo Market Report June 2017!
Few Key Highlights:
- Avg sold price of a GTA condo in Q2 2017 was $532,032, which is $116,578 or 28.1% higher than same time last year
- Avg sold price of a condo in Peel region in Q2 2017 was $403,977, which is $99,813 or 33% higher than same time last year
- Avg sold price of Toronto condo was $566,513, which is $123,81 or 28% higher than same time last year
- Avg sold price of Mississauga condo was $411,589, which is $98,511 or 31% higher than same time last year
- Avg Rent for GTA condo for a 1 BR unit was up by 8.8% to $1,861. The average two-bedroom rent was up by 8.7% to $2,533
- Avg Rent for Mississauga City Centre 1 BR unit currently sits at $1,600+ per month, and a 2 BR at $1,800+ per month
The Art of Selling Square One Condos
Download your FREE copy of the latest edition of our popular brochure: Art of Selling Square One Condos – Steps to Successful Sale of Your Condo.
This Brochure will provide you with great insights on the current Square One condo market, as well as equip you with a checklist and steps involved in selling your Square One condo. It will help answer some of your questions on Pricing Your Condo, Preparing Your Condo for Sale, Marketing Your Condo to Successfully Closing the Sale of Your Condo.
Pick up the phone and give us a call to discuss your requirements, whether you are planning to sell your condo to buy a home, looking to downsize to a smaller condo, or simply looking to sell your condo. Our highly experienced, professional yet friendly team will meet with you for a FREE Home Evaluation and discuss your various options.
Our local presence is built on trust and experience. Amit is Top 1% Broker in Square One area by number of transactions in 2016 and 2017 (to date), as per the realestate stats based on TREB. Last year, more than 50% of our Team’s transactions came from people living in Square One condo buildings who refer their friends and family to us.