“August 2, 2007 — TREB Members reported 8,912 total sales in July, 26 percent ahead of the 7,082 sales recorded in July of 2006, and an all time record for the month.” as reported by TREB.
Downtown East (C08) concluded 1,248 transactions averages selling at $336,500 with 24 Days On Market. Downtown West (C01) 2,415 transactions at $342,600 average with 26 Days On Market.
So why prices escalate, DOM shortens with increasing number of transactions? two type of aggressive buyers are snapping new and re-sale condos: the first-timers and the upgraders. Both intend on claiming a stake in the ground (or above) at current price levels. Make sense, no?
Yossi Kaplan, MBA
Sales Representative, Your Choice Realty Corp
885 Don Mills Rd suite 104