Toronto condo sales booming once again

The market research firm says sales of new condo units soared 88 per cent to 5,140 in the first quarter, compared with the 2,728 sold in the first quarter of 2013.

But many investors felt renewed optimism in the opening months of 2014, says the analyst – partly because a robust resale market has helped to create an overall sense of stability.

Mr. Hildebrand says Urbanation data backs up the anecdotal tales from real estate agents who say that many buyers priced out of the single-family home market are turning to two- and three-bedroom condos instead. Prices of resale condos had slipped during 2013 and that made the prices of older units even more attractive compared with single-family dwellings and shiny new condos.

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Randy Ramadhin

Randy Ramadhin

CENTURY 21 People's Choice Realty Inc., Brokerage*
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