February 23, 2013
January’s Condo Rental Numbers were pretty strong with 350 one bedroom units and 175 two bedroom units leased in the downtown core alone. It’s a strong indicator that while demand for downtown living remains high, a significant segment still prefer to rent at this time. Rental prices remain unchanged from the levels we saw in late fall of last year.
Bare in mind folks that during the winter months, leases are at their lowest price point of the year. As of today, the average lease price for a Studio Condo will rent from just over $1400/month. A basic one bedroom without parking averages a touch under $1700.
What about one bedroom plus dens and parking? Well that will cost you around $1900. Two bedrooms are commanding $2200 per month and can go up to $2900 with a den and parking thrown in. Three bedrooms, if you can find one, are now averaging over $4,000 per month. I’m waiting with eager anticipation to see how the peak of the rental market will unfold during the May to September period!
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