With single family home prices on a continual rise for the past few years, finding a home under $500,000 has become virtually impossible. A detached home in the city will cost you about $920k, according to the Toronto Real Estate Board’s June figures. That is why many would-be homebuyers are switching their focus to condominiums.
With the price of houses continuing to skyrocket out of reach — a detached in the city averaged $921,127 in June — the two-bedroom condo and the townhouse condo are quickly becoming the hottest tickets in town for young buyers, realtors say.
Read the full article in the Toronto Star