Sales of apartments in condominiums were strong during the first quarter of the year. The average number of days a unit spent in the market was 24, and then sold for at least 100% of the listed price.   Although the pace of sales decreased in comparison to last year's record, prices in the City of Toronto averaged $ 570,000; an increase of almost 11% compared to the first three months of 2017.   In the 905 regions, the prices of condominium apartments averaged $ 435,000; up to 7% over last year. Not counting the cases of multiple offers received by the same unit.   In the Regent Park area, as well as the Waterfront Communities and Yonge & Church Corridor, 103 sales were recorded during the month of February, reaching an average of 103% of the suggested price. The area of ​​Yonge & Dufferin Street and Bloor to Lake Ontario, had 297 sales, with an average of 101% of the price requested.   On the outskirts of the city, in Mississauga, for example, there were 197 sales at an average price of $ 411,000. The condos were sold for an average of 98% of the indicated price.   As we move into the spring and summer months, sales growth and sales prices are expected to improve compared to last year, said Jason Mercer, Director of Market Analysis at TREB. Continuous growth is expected in the prices of the most affordable homes at the moment: condominiums and townhouses.   The market will continue to be driven by strong growth in labor supply and demand, in addition to international migration. The federal government announced that it will accept more than 300,000 immigrants each year, and it is predicted that one in three will settle in the Greater Golden Horseshoe area.   With this strong growth in the population, the supply of rental units is expected to remain tight. In January, the Real Estate Investment Network discovered that rentals for a one-bedroom apartment in Toronto reached $ 2,100 per month, surpassing Vancouver as the most expensive rental market in the country.   Condo investors are meeting the need for rental housing. A recent Urbanization study found that old condos have proven to be the best investment for the past five years. Those that obtained better results in terms of revaluation, were buildings built before 2012; and three of the five most important buildings were built in the 1980s.   For now, we can say that 2018 will also be an important year for the real estate market in Toronto and its surroundings, bordering or even surpassing the results of the previous year.   Are you thinking of selling or buying a property? Would you like a condo in the city or a townhouse on the outskirts? Contact me and I will offer you the best options that suit what you are looking for.