TIGHT MARKET CONDITION - LOW INVENTORY PUT UPWARDS PRESSURE ON PRICES

TRREB reported 9,783 sales through TRREB's MLS system in October 2021, down about 6.9% compared to October 2020 during the tight inventory condition on the market.  The low supply status plus strong demand for home ownership was driving the average selling price reached at $1,155,345 in October 2021.  

• Canada's inflation rate reached 4.4% in September 2021, to rise further this year and then average 3.4% in 2022  (released in Reuters on Oct 29, 2021).  
• Canada raising immigration targets at reaching 1.2 M by 2023. It will have 401,000 newcomers each year.   A stunning record of 45,000 immigrants landed in Canada in September 2021.   The new arrivals will boost the existing strong housing demand resulting in further stress on prices.

The Sales-to-New Listings ratio reached high 83% in October 2021.  It drives upwards pressure on prices especially the low-rise properties.  

Due to soaring prices of low-rise properties, the first time buyers /investors are getting to shift their targets at condominium apartment market.  Both no. of sales and average selling price of Condo Apartment in Q3 2021 have 10.6 % and 8.9% respectively comparing to Q3 2021.  The demand in condo market will get stronger in the favourable environment of more new arrivals in Toronto and the border reopening.

Lawrence Hill Urban Town

Developed by Kingdom

Address :  75 Curlew Dr, North York

Price : Starting from $850K+ 

Intersection :  Victoria Park Ave and Lawrence Ave E

No. of Units : 220

Size:  780 sf - 1140 sf 

Occupancy  : 2024 Winter

Parking : $49,900

Maintenance Fee :  approx. 0.19 psf

PLEASE CONTACT OUR TEAM FOR PRICE LISTS AND FLOOR PLANS AT 647-298-1234.  ALL DETAILS ARE AVAILABLE NOW.