|Toronto Condo Market Update
The Toronto Real Estate condo market keeps on ticking along andthe demand continues to be strong. Makes sense when you look at the amazing choices available for the consumers. From lofts, work/live options to the opulent million dollar condos that can be found at the 66 storey Shangri-law condo-hotel development not to mention our affiliation with TRUMP TOWERS.
The hottest area for condos still remains in the Toronto core, representing 50% of the GTA’S condo developments. With over 75,000 newcomers predicted to move to the Toronto area each year, condos and homes with easy access to the subway and TTC are becoming hot points for todays consumers (both for tenants and owners).
As an active realtors in the condo sector, we often invited to exclusive previews where we can provide private viewings for our clients.
Example invitations: NXT Phase 2 Windermere by the Lake, south of Bloor West in Swansea Village. With views of High Park and the street car at your front door both buyers and investors will be intrigued with this building.
The Ironflats is another interesting project, with its second phase of work-lofts creating an intimate community as well as a mix of business and boutique shops at street level. Prices started in the low $200,000’s up to 1.7 million.
So the choices are out there. It’s just a matter of finding the perfect fit for your lifestyle and budget.
But where is the future of condos going? We can only look at the latest statistics to help determine what the future could possibly hold. But as detached homes sky rocked in the last few years in the GTA, condos still offer an affordable entry level price range for first time buyers and a more carefree alternative for investors.
Some Quick Facts about the Condo Market:
- Toronto Condos outselling homes
- New condos sales came in at 3,433 in the first quarter of 2008 - only 8 units fewer than last year.
- During the 1st quarter of 2008 - prices continued to climb - condo index prices enjoyed the13th consecutive quarterly increase.
- 17 New projects launched in the 1st quarter of 2008
- It is predicted that 75,000 people a year for the next 20 years are projected to move into the city core
Due to the incredible choices in new condominiums in the GTA we’ve added some information pages on our website. Feel free to visit www.SuttonRealty.com for handy links to new development sites.
New Condos - 2009 and later closings
Resale Condos - 30 - 90 day closings