Condos still remain the affordable option for many – especially in Burlington!
While the average condo price in the GTA in June 2018 was $774,554, (23.5% increase year or year) the average price of a condo in Burlington compared to Toronto is still a bargain!
Toronto has broken the $1,000/sq ft threshold on average for new condos, Burlington’s offerings for new condos hover in the low to mid $700’s/square foot as of June 2018. (Urbanation Report: Project Sales by Municipality and Sub-Market)
With a current shortage of supply in both the resale and new condos, these numbers appear to only be going up.
Careful! Averages can be deceiving. Burlington, for example has new condos for sale ranging from the $500’s/sq. ft. to over $1,000/sq. ft.