Toronto Condos Market: September

Toronto Condo Market: Toronto Condo Assignments Commentary

As the country is officially away from the recession, the real estate market continue to surprise with unexpected figures.

Indeed the transaction price has increased from 8% to 393.813.
The resales have increased by 18.5% compared in August to last year.
Sales of condos increased by 24% compared to July 2008.
The Downtown core confirms its attractiveness with a 33% growth from last year.
In August new condominiums sales rose up to 25%  from last year.
The Rentals market report :

The rental market remains strong and very tight. 245 one-bedroom units were leased Downtown, from a low of $1400 on average without parking to a high of $1700 for a one plus one with parking. This was the biggest month for two bedroom rentals this year with 138 units changing hands. Prices ranged from $2000 – 2200. There are also more bachelors on the market with prices averaging $1250 to $1350 for parking. An interesting trend is that units with parking are staying on the market for 15 days while those without are staying on the market for 25-30 days before renting.

What are the reasons for those rebounds ?
-First the following the financial crisis many builders cancelled condos so demands exceeds supply.
-Following the financial crisis, interest rates remain low in order to boost the economy.

-The optimism of the torontonians  about their future. According to an IPSOS poll 72% of the torontonians think the economy will be better.
For all these reasons many specialists agree to say that as Seller or Investor it’s the best time to make great deals.
That is definitely great news for the economy and we can help you to make profits in the condo market! If you want to have more information on Investment in condo, and Assignments contact us :
Yossi Kaplan, MBA
Sales Representative, Your Choice Realty Corp
885 Don Mills Rd suite 104

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