What are the real estate perks of a city?
A few months ago, I wrote an article about the perks of Toronto and how it was a big deal to live in Toronto.
Now, thanks to a recent report, the city is actually doing a pretty good job of selling real estate in its downtown neighbourhoods.
According to the latest Toronto Real Estate Board data, there were 5,918 sales of condos, apartments and townhouses in the city in the first quarter of 2017.
That’s a 20 per cent increase over the same period last year.
And the average sale price of condos in the area was $1.18 million, compared to $1,071,988 last year, according to real estate board figures.
That means condos in Toronto are on the rise, and the average condo sale price is now around $2.2 million, up $150,000.
That compares to $2 million in 2016.
The average price of townhouses was $839,000, up 21 per cent from last year and a whopping $1 million more than last year’s average price.
In the Toronto region, condos have risen over $1 billion.
That includes condos in Vaughan, Scarborough, Etobicoke and Don Mills.
The number of condos per capita in the GTA is up more than 10 per cent over last year to 1,788.
The percentage of detached houses in the region rose to 16.7 per cent last year from 15.2 per cent in 2016, according a report by the Toronto Real Property Board.
But condo prices aren’t the only thing Toronto is selling.
The city is also selling office space, office furniture and office equipment.
This includes the likes of office furniture that includes office desks, desks and chairs, as well as office space for businesses and homes.
The Toronto Real estate Board says there are more than 7,000 units of office equipment sold each month.
The largest single sale of office space was in January 2017, with 2,000 sales.
In addition, the board says it sold a total of 9,000 office space in the Greater Toronto Area in the year to March.
That figure includes 1,600 sales of office desks and desksets.
It also includes 1.8 million square feet of office facilities, including offices, cubicles and other office equipment, which was sold in the past six months.
That was down from the same time last year but up from the 6,000 square feet sold the same year, a year earlier.
That said, the numbers for the first three months of 2017 weren’t great, but they’re improving.
Last year, the real-estate board reported that it had sold 1,000 new office space and 8,000 buildings for the year, up from 1,400 in 2016 and 1,200 in 2017.
For the first six months of this year, it sold 1.3 million square foot office space.
So even though condos are soaring in Toronto, the number of people living in the downtown areas is falling.
It’s true that there are fewer people living downtown, but the city still has some of the most expensive real estate prices in North America.
That makes it a big draw for potential buyers.
If you’re looking for a place to live and a good paying job, Toronto is a great choice, said Rob Wiens, CEO of real estate analytics firm RealCast, which specializes in real estate data.
But for those looking for something a bit more affordable, he says, the market is also a great place to look.