January 2021 RSS Feed

It's no surprise that the condo market was hit the hardest last year due to the pandemic. With stay at home orders in effect and social distancing required, homeowners shifted their attention to larger lots and bigger homes causing a significant decline in condo sales. But that doesn’t mean the demand for condos is gone forever.

Which is why some people have been asking; are condos a good investment?

Shift In Demand

In the first quarter of 2020, condo price increases were outpacing single detached houses. New condo prices in Toronto were up 14.6% over the previous year while resale prices had increased by 8.5%.

Current data shows a different story. While condo prices are up year over year – month over month, price growth is not as…

Last year made us rethink the relationship we have with our homes, as homeowners were forced to adjust to new ways of living caused by lockdowns from the pandemic. As a result, we saw a shift in interior design trends that are expected to continue into this year.

Here are the top interior design trends you can expect 2021:

Multifunctional Spaces

Last year we had to reimagine the layout of our homes as lockdown orders forced us to adjust to new ways of living. We turned our living spaces into home offices, gyms, and even classrooms to adapt to stay at home orders. This trend is expected to continue into 2021 as lockdowns are still in effect and people are getting used to the new normal.

Decorative Lighting

This year people…

With 2020 now behind us, we look forward to 2021 and what is expected to be a more “normal” year for Toronto real estate. While we can’t be certain exactly what this year has in store, we can predict based off recent trends what is likely to happen.

According to a recent Royal LePage report, home prices are expected to rise in 2021, building on the unexpected growth experienced this year despite the pandemic. The report forecasts a 5.5% increase in the average sale price of Toronto homes, driven by a shortage of properties for sale and record low interest rates.

RELATED: Toronto Housing Year In Review 2020

The report also suggests that the aggregate price of a home nationwide is set to rise year-over-year to $746,100. The median price of a…