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GTA condo purchase requests surge, nearing 2017 levels, are sales poised to rebound?

CondoNow has seen an explosion in search and purchase requests from buyers in the first four months of 2019. The historical average ratio of purchase requests to GTA new condo sales sits at 12%. This year that ratio has climbed by 1100% to an average of 133%.

Does this growth in demand forecast a potential sales surge

According to Altus, total new home sales for the first quarter of 2019 are down 65% and 27%, compared to 2017 and 2018 respectively.

toronto-condo-market-2019

Considering the start of 2019’s notably slower sales period, recent online trends from buyers in Spring of 2019 has surpassed 2018’s purchase interest levels by almost 30%.  

Increases in purchasing interest from buyers in April of 2019 are comparable to that of October 2018, and May 2017 when sales were 2,805 and 3,766. Does this new wave in traffic and interest indicate a potential surge in sales in the immediate future? Let us know what you think.  

 *Above Statistics are based on 3+ million users, 100K+ Purchase Requests, 32+ Million Pageviews, and an averages session time of 3:57 minutes.  

CondoNow.com is the easiest way consumers can search, shop, compare and buy a new condo. Choose to work with the top platinum real estate agents or directly with the developer and receive exclusive access to new condo and townhome developments in Toronto.

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