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Toronto Real Estate GTA Top Hot Neighbourhoods for March. Toronto Condo Sales up 11%

While the Toronto Real Estate Board reported a general sales slow down in the first 2 months of 2008, not all areas have been affected by the winter weather blues.  Keep in mind not even the snow could impact the house prices, as they're up an average of 5% over last year at this time. 

Number 1 real estate hot spot was the North end of the Greater Toronto Area, Georgina (knows as district N17) experienced a dramatic increase in sales by 39 percent during the first half of March.   Affordability is attracting buyers, with a noticable increase in sales of detached home transactions.   An area where a $300,000 budget can still buy a semi detached or freehold home verses a condominium.

The Agincourt area of Scarborough (E07 McCowan and Finch) experienced a 12 per cent overall increase in sales compared to a year ago based primarily on strong condominium apartment sales.   There is still a selection of condominiums in the the $200,000 price range with elbow room.  Buyers can choose from highrise to newer low rise 2 bedroom condos in a more affordable price range.

Strong condominium apartment sales also allowed the Weston area in York (W04 Eglinton, Scarlet, Jane, Weston Road) to hold strong, with a 28 per cent overall increase compared to a year ago.   High rises can still be found below the $200,000 price range and new Stacked Condo Townhomes just above $220,000 mark.

Toronto Condos for SaleToronto's Downtown core (C01) has also experienced healthy sales activity so far this month, due to strong condominium apartment sales as well. Overall sales in this area were up 11 per cent compared to a year ago.  

The downtown core continues to remain hot.   Torontonians aren't the only buyers waiting in line for condo previews.  Canadian investors from out west still love our comparatively lower prices along with investors from abroad.    With all the new condo activity we have initiated a Preview mailing list, informing our buyers of upcoming events and Limited Time exclusive builder offers.  

Condominium apartments have weathered the winter best so far this year, with 733 sales to date but we remain confident that once the snow has melted, we will see a very active spring market overall.    While most buyers are thawing out, those that get out now will have a little head start.


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