Eric Skicki

Will the condo market crash in 2017?

Since the beginning of 2016, we have seen a few new price records being broken in the Square One area. We have seen one bedroom plus den condos cross over $300k, while some two bedrooms are creeping above the $400k mark. While many condo owners are satisfied to see their homes go up in value, the rising prices do raise concerns over a “real estate market bubble“.

In this blog post I will outline some of the key factors which continue to propel the market forward, and why I believe a real estate market crash is less likely to happen than many people tend to believe.

That said; the market can not rise at this pace forever. There will be a tipping point, at which I believe the prices will stabilize for some period of time.

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      One Comment

      • Jathi Jega says:

        Hi Eric,

        I am thinking about purchasing a unit in a new condo development (pre-construction) that will go up for sale near square one in the spring of 2017. How advisable is it given the market conditions?

        I plan to do this for investment- so dependent on tenants of course.

        Thanks

        Jathi

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