LendingLemus

In a segment of the market that mentions square footage constantly, there is no mention of it in this article unfortunately.

I say unfortunately with great respect because I thought if anyone has the data, it would be @danielfoch

With our addiction to real estate, I believe it is necessary to breakdown the condo segment by square footage for anyone interested in real estate.

Whether you are a buyer, seller, analyst, policymaker, investor and of course.....speculator. 🙄 (Sarcasm, I know some who purchased without reading the floorplans)

For example, if a buyer purchased a condo for $419,500 and another buyer purchased for $489,800, BOTH sales fall into the under $500,000 price category mentioned in the article.

However, if we dissect the numbers further, the article mentions 594 sales were below $500,000 and "the largest single price band was $400,000 to $499,999, with 390 sales."

Which means 204 units sold UNDER $400,000 and there is no direct mention of these units in the article.

So I looked into the TRREB report myself.

181 units sold in the $300,000 to $399,999 price band.

23 units sold in the $200,000 to $299,999 price band.

Those are the "missing" 204 condo units.

As for square footage, I don't have the data but if you trust my 🧮 as I do, we are likely below my prediction of $750/sqft.

Which means it is possible to purchase a 550sqft condo for $412,500. (550sqft x $750/sqft)

550sqft is NOT a BIRD CAGE CONDO.

Anything under 500sqft IS a BIRD CAGE CONDO in my opinion.

Which means you can likely purchase a BIRD CAGE CONDO for less than $400k.

450sqft x $750/sqft = $337,500.

If you found this helpful, please like, share, comment.🙏🏼😎

RE🏡 & Economy💰 - 🇨🇦⚽ & 🇸🇻☕ - Geopolitics🌎🇨🇦🇸🇻

José Lemus