2017 was the year of the condo. Condo prices in Toronto soared by 22%, landing at a spectacular $523,437, despite heavy regulations put in place by the government earlier this year.
But not all condos are gained equally, and some have seen larger gains than others. Below is the top 10 most appreciating condos in 2017. The first one is 381 Front St, it increased by 36.5% in value compared to 2016. That means a buyer who paid $400,000 for a unit in 2016 would have gained $146,000 in 2017.
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The Toronto housing market has witnessed a cooling trend over the past few months since reaching all time highs in spring, which reveals that Toronto is edging into a buyer's market. The dream of owning a house in Toronto is still far fetched for many, but it's at least come back over the last few months.
With housing prices faltering recently, and interest rates on the rise, is Now a good time to buy a house in Toronto?
The Canadian Real Estate Association (CREA) says home sales in June posted their largest monthly drop since 2010, with the GTA market leading the decline.
It was the third consecutive monthly decline since March, with sales for June down 6.7% compared with May on a national basis, the association said. 70% of local markets registered month-over-month declines, it added. Sales dropped by 11.4% compared with June of 2016.
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