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toronto condo prices

You can find so many stunning houses for sale in Nova Scotia that are on the water.

Not only are these homes either oceanfront or lakefront but they're also cheaper than a Toronto condo!

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If you've been watching the Ontario real estate market, you'd probably expect a massive house like this one to cost millions, but this Ontario mini-mansion that looks like a movie set is on the market for less than seven figures.

Right in the heart of Renfrew, Ontario, lies this beautiful 1890 Victorian-style house with six bedrooms and three bathrooms filled with stunning vintage vibes. The best part about this listing is the asking price: $699,900, which is cheaper than the average sale price of a Toronto condo.

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For many young professionals, the dream of owning a home in Ontario has become increasingly unattainable due to rising housing costs.

But, homeownership in Ontario's real estate market comes with huge financial challenges, too, especially for those who own condos and are required to pay the associated fees.

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The end of the COVID-19 pandemic is impacting Toronto's condo market significantly, with data showing that units are now more expensive than they were in the past few years.

Bullpen Research & Consulting Inc and TorontoRentals.com report that this August, on average, landlords and owners were asking for $2,963 per month to lease a condo in the city. This marks a 43% increase from the $2,100 per month residents were paying in 2021.

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Here's yet another reminder of how outrageous Toronto's real estate market can be and how seemingly out-of-reach it is to buy a brand new home.

In a press release posted on March 23, the Building and Industry Land Development Association and Altus Group revealed just how hectic the new home market was for the GTA last month.

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