Â Toronto Condos – What’s their Value? – Part 2
Toronto Condos: In my last article, Valuating Toronto Condos I’ve written about two strategies Sellers use to list properties: the first, is “Over-Pricing”, and then performing retail-like discounting where every 30 days or so, a price reduction is set until a unit is sold.
The other strategy is “Aggressive Pricing” and in this method you’d price your property at close or jeust below what you thikn is real market value, and set a date for offers to come in. if you get more then one offer, then a bidding war will set the price higher.
The Aggressive method is usually much faster yet theoretically both methods should arrive at same price (but the first one takes longer).
So what are the prices? According to the Toronto Real Estate Board report from June 2008, the average price of a downtown condo (C01 area) was $381,966, properties spent an average of 22 days on the market and retained an average of 99% of their listing price.
In 2007, the average price was $377,825.
To see TREB’s entire report directly, click here >
Sellers and Buyers: please give me a call for a free consultation. I’ll give you my honest professional opinion to the value of your condo, and how to go about selling it.
Strong advice. we strongly recommend all interested buyers to be accompanies by myself (or a licensed Realtor) on the first time walking into any condo sales centre. Realtors get paid by builders and their service is free to you, neither the price of your purchase will change. A Realtor will guide you through the selection and the purchase process and negotiate with the builder on your behalf, as well will refer you to professional such as lawyers and finance/mortgage. Please call me to arrange 416.441.2888 x678.
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Â© Yossi Kaplan, MBA
Specializing in Condos, Lofts, Investments and New Developments
Harvey Kalles Real Estate Ltd., Brokerage
tel 1.416.441.2888 x 678