Creb Condo News - December 1st 2021

Condo infomation taken from the Creb Media release - December 1st 2021


Row / Townhomes

Row properties have not faced the same supply challenges as semi-detached properties so far this year. As a result, the row sector has seen the largest growth in sales, which have already surpassed the annual record high. 

Row properties often offer a more affordable alternative to detached homes for consumers who are looking for more space than an apartment condominium. Nearly 83 per cent of all sales that occurred in this sector were priced below $400,000.

While row supply levels have not been as tight as in the detached or semi-detached sectors, strong demand has caused inventories to fall. This is contributing to tighter market conditions in this segment as well. 

With less supply/demand pressures for this property type, prices have not experienced the same gains seen among detached or semi-detached homes. On a year-to-date basis, the benchmark price was six per cent higher than last year, but it remains lower than previous highs set in 2015.


Apartment Condominium

The apartment condominium sector recorded another month of strong growth, contributing to year-to-date sales of 3,834. Sales remain far from record highs, but this is still the highest level of activity seen since 2014.

Improving sales led to slightly tighter conditions in this market, but inventory levels were high relative to historical levels, making this segment an outlier compared with the other property types.

Supply challenges have not been as prevalent for apartment condominiums, so prices growth and recovery in the sector have remained far lower than the other property types. However, on a year-to-date basis, prices have improved by more than two per cent in a reversal of the steady annual decline recorded since 2015.


FULL REPORT

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