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Toronto Condos, The Mania Continues - Buyers still lining!

Toronto Central CondosSutton Realty Blog Update:
While the Toronto resale market felt the effects of the winter weather as sales slowed for the first two months of 2008, nothing seems to be stopping new condo buyers.  Urbanation, a Toronto Condo research firm reported new condo launches in the the first 2 months of 2008 nearly doubled those in the first quarter of 2007!  They also reported Toronto condo prices rose 11.3 per cent for new units and 15.1 for resale suites, over 2006.

On Saturday March 8th, while many people were staying close to home during the storm, over 200 people turned out for the first phase opening of Canderel Stoneridge's College Park Project at Yonge Street and Gerrard.

The units range in price from $300,000 to almost $2 million, with the first 3 floors set aside for retail space. Along with the esthetic appeal much can be said about the convenient location of the Central Toronto site.

Some realtors lined up for this event weeks in advance to ensure a spot in the line, with 200 people attending the first phase only offered 250 units up for sale.  

It's not too late to go take a visit and review the new plans for the 75 Storey Building which will be the tallest residential building in Canada.  You can visit their site at ww.collegeparkcondos.com to register.

Buyers just can't seem to get enough of new developments.   If being willing to stand in line during one of our worst snow days is an indication of things to come in real estate for spring, we can rest assured it should be a hot market place once we all thaw out.

Condo Sales Prediction:   Urbanation forecasts 19,000 sales in the new condo market and 17,000 sales in the resale condo market for 2008.   With low unemployment and declining interest rate trends the future market remains bright.

Read the latest update on downtown condo sales in March

As a real estate office, our list of investors and buyers looking for New Condos and Homes keeps growing.  As we are informed of Realtor Previews we often bring our clients, 2 are coming up for next week.   If interested in other upcoming events at other projects you can enquire at www.SuttonRealty.com 

 

Posted: Monday, March 10, 2008 1:53 AM by Sutton Realty

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