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Three-Bedroom Condos Surge in Value by Over $200K as House-Seekers Look for "Next Best Thing"

Robert Van Rhijn
Publication date:
June 4, 2022
Article Summary: 

Three-Bedroom Condos Surge In Value By Over $200K As House-Seekers Look For "Next Best Thing"
Ca data shows that competition remains incredibly fierce for three-bedroom condos.

Ca agent Francisco Hiebert isn't surprised that three-bedroom units are so popular these days.

Hiebert also believes that as COVID-19 cases continue to drop and Toronto opens up, we'll see an even larger demand for three-bedroom units in the months ahead. Three bedrooms or bust: Competition sizzles for larger units.

Back in March, homebuyers were paying 8.4% over the asking price for three-bedroom units.

Trend lines show that when it comes to three-bedroom units, there's a mirroring of sorts taking place.

Ca realtor Sam Massoudi believes the battle for three-bedroom units is being fuelled by the exorbitant cost to purchase a single-family home.

Left with few alternatives, Massoudi believes homebuyers have no choice but to consider a three-bedroom condo instead. "All that space can be used for a family with two children...or a family with one child, plus a home office. Aside from freehold houses, this really is the next best thing."


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Source Citation: 
Robert Van Rhijn
Three-Bedroom Condos Surge in Value by Over $200K as House-Seekers Look for "Next Best Thing"
June 4, 2022
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