Condo sale price gains lower than residential - but nothing shabby about the numbers.

News 100 yellowBy Staff

August 16th, 2019

BURLINGTON, ON

 

condo units for sale

Condos are seen as in a sellers market.

The Rocca Sisters, in the report on the sales of condominiums in the Burlington market say that sale prices in July were down 4.5%, price per square foot was down 0.2%, and sales were up 35% as compared to July 2018.

Year to date, at the end of July, average sale prices were up 2.6%, sales were up 16.5% and price per square foot was up 8% as compared to the same period in 2018. Condos are selling for, on average, 98.54% of the asking price so far in 2019. Inventory levels are down considerably from last year, by over 40%. There is no doubt that the condo market in Burlington is a seller’s market.

If these conditions continue we should see a fairly significant increase in values over the coming months.

Rocca condo numbers July 2019

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