Etobicoke approves area’s first low-rise condo

“Royalpark will be constructing B-Line Condos on the corner of Horner Ave and Brown’s Line. This is the first, low-rise condo that has been approved for construction in Alderwood, Etobicoke. The main floor will consist of commercial spaces with the remainder of the units being residential. Year-over-year the median sale price in the Etobicoke area was up almost 20% in June 2016 to $1,259,486 vs. $1,052,855 a year ago. Looking at the numbers for June vs. two months earlier, the number of homes sold increased by 7% to 1,491 units vs. 1,396 units in April 2016. Inventory was up as well—7.7%–to 1,994 units vs. 1,851 units, while the average days on market remained basically unchanged at 11 days vs. 12 days.”

Michael Lau, Etobicoke, ON – Solidifi Extraordinary Appraiser