“My clients see Pickering as a good middle-ground.

Compare that to Toronto, where people are paying just 2% over the list price, on average.Ĭliff Liu, a broker at Strata.ca, says it’s not hard to understand why Pickering is hotter than Toronto in some respects. And yet, Pickering condo owners have seen gains more than double that in just 12 to 13 months alone.”Īlthough Strata.ca data shows bidding wars in the GTA have largely cooled since April, homebuyers in Pickering have been consistently paying more than 6% above the list price for the past four months. “You’re getting in on a housing market that’s about 17% cheaper than Toronto’s.

For potential homebuyers, he says it all comes down to a numbers game that just makes sense. Pickering is one of the top places in the GTA that’s best positioned to give you the best return on your investment, according to Strata.ca’s Broker of Record, Robert Van Rhijn. Despite this increase though, the city is still cheaper than Toronto, which has an average condo price of $726,000. On average, a Pickering condo will cost you around $599,000, up from $489,000 a little over a year ago. The average cost per square foot (PSF) went from $440 in June 2020 to $614 currently for an increase of about 40%. Since the start of last summer, condo values here have soared. Strata.ca data shows the eastern city is showing signs of a rebirth one marked by surging property values and electrifying anticipation of what Pickering could become. While most residents have traditionally made the trip to Toronto’s downtown for work and entertainment, the hope is that this glimmering mixed-use space will brand Pickering as a destination of its own.īut much like Pickering’s ambitious development plans, its real estate market has seen a renaissance of its own. But if all goes according to plan, the city is about to undergo a radical transformation that may leave it unrecognizable.ĭevelopers have been working on a 240-acre district known as Durham Live, meant to create Pickering’s definition of a downtown core. When you think of Pickering, a casino resort, luxury hotel and flashy entertainment venues probably don’t come to mind.

Pickering casino condos