A Review of Condo Market

• Condominium resale activity increased 64% year-over-year to reach a February record of 3,116 sales.
• Sales growth remained strongest in Downtown Toronto last month, with activity up 100% from a year ago.
• Inventory levels for condos dropped below one month of supply everywhere across the GTA in February.
• The only other time resale inventory was this low was in early 2017, which was accompanied by a 30% annual surge in prices just prior to the introduction of the Ontario Fair Housing Plan.
• While average condominium resale prices in the GTA were down 3.7% year-over-year in February, they jumped 6.9% on a month-over-month basis, led by an 8.3% increase in the 416.
• Despite the surge in prices last month, average prices in Downtown Toronto were off 11.8% from a year ago. In the rest of Toronto, average condo prices were down 4.5% year-over-year, while 905 prices were up 5.4%.

UrbanAction Release: 1 Jarvis

·         1 Jarvis is the first launch in the central Hamilton submarket in nearly two years located at 1 Jarvis Street, north of King Street East and west of Wellington Street North (the common east delineation of downtown Hamilton). The 15-storey building by Emblem Developments offers 354 units sized from 435 sf to 840 sf with end-selling prices from $367,000 to $576,000. Launched to brokers in mid-February at an average $753 psf, it is Urbanation’s understanding the project is sold out subject to the 10-day recession period.