By Staff
February 13th, 2021
BURLINGTON, ON
The condo market saw a significant increase in both sales and sale prices during the month of January.
Sale prices increased by 8.2%, price per square foot increased by 15.7% and sales increased by 27% as compared to January 2020.
This segment was so strong that for the first time ever, we saw more than a third of the listings sell for over the asking price. Inventory was at a fairly average level at the end of January, slightly lower than usual.
With the increased demand that we are seeing in this sector it’s likely that we will continue to see these properties sell in competition. During the month of January, condo apartments sold for 100.67% of the listing price and in under 30 days, on average.
The Rocca Sisters Team report that “the market is very hot right now and we have lots of buyer clients who are looking for that perfect home.
Data on the condominium market for 2020 – rate of growth impressive.
