Toronto Real Estate Agents in the Greater Toronto Area reported 3,666 MLS resales, an increase of 84 per cent compared to the first two weeks of November 2008.

The average Toronto resale price was also up to $415,066 an increase of 10 per cent from the same period a year ago according to the Toronto Real Estate Board.

In the year to date comparisons MLS resales were up 11 per cent to 78.233 and the average resale price $393,180 , a 3 per cent increase.

It is important to understand that Toronto Real Estate in the fall of 2008 experienced a big decline in sales and average price so the above comparisons show much higher levels as the Real Estate Market returns to previous levels prior to 2008.

Summary of Toronto Real Estate Mid November Resales and Average Price:

City Of Toronto Sales 1,560- 2009, 830-2008 Price $441,893-2009, $400,305-2008

Rest Of GTA Sales 2,106-2009, 1,161-2008 Price $395,195-2009, $358,130-2008

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Despite a World Wide recession, Toronto has seen a flurry of development in the Financial district with several green commercial office towers and three luxury Hotel-Condominiums nearing completion.

Three new downtown office towers:

• Bay Adelaide Centre West
• RBC Centre
• Telus Tower

All of these new office towers will strive to be “Green” to comply voluntary with the LEED qualifications, some will have the Gold rating.

Three new luxury Hotel-Condominiums:

• Trump Tower
• Ritz Carlton and the Residences at the Ritz Carlton
• Living Shangri-La Toronto

Most of the downtown Toronto office towers were over 20 years old so there was a pent-up demand by tenants for bigger and more efficient buildings.

Even the three new Hotel-Condominium projects will be most attractive to executives doing business in our financial district along with providing accommodation to these financial employees who prefer to live downtown.

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Trump Tower

Just steps from the heart of the Financial Capital of Canada , Toronto’s most desirable luxury Condominium address is now under construction. Trump Tower Toronto is on the move.

The  59 storey Trump Tower will have 109 Condo units, 26o luxury hotel suites and retail space as well.

When completed, this five-star Trump International Hotel and Tower development will be the highest in Canada.

The hotel lobby and seven parking floors are  now complete. Completion of  Trump Tower is scheduled for 2011.

Units range from $1-million in price to $15-million for the penthouse

A few facts about Trump Tower Toronto:

• Tallest residential buildings in Canada
• The first Trump Hotel/Condo to be built outside the United States
• Connected to Toronto’s famous Path System
• Walking distance to the Air Canada Centre, Skydome, The Metro Convention Centre and Roy Thompson Hall

Downtown Toronto Real Estate will truly benefit from these luxury Condos and Hotel suites.

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Maple Leaf Square Condominiums

Maple Leaf Square Condos in Toronto are a big part of the new, exciting, Maple Leaf Square now under construction.

Pictured above they will add to the downtown Toronto Skyline making Maple Leaf Square an exciting venue for Hockey and Basketball fans.

When completed these two Luxury Condos will provide residents with the ultimate downtown living experience with sports bars,Hotel,Longos and day care centre all connected to Union Station and the Path System.

Here are some completed Toronto Condo Listings in this downtown area.

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Canada’s three major cities-Toronto, Montreal and Vancouver have all placed near the top in recent global rankings, mainly because of urban livability in their healthy downtown cores.

Compared to the United States many residents there, continued to move out of the downtown cores and retreated to the suburbs.

For different reasons our bigger Canadian cities will do well in the coming years.

Even now we can see how there is an increase in Condos in Vancouver and Toronto, the Condominium capital of North America.

Read how Boomers will reshape Downtown Toronto Real Estate.

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New Condominium Sales Increase 97 Per Cent For September

Casa Condos Bloor Yonge

National average resale prices rose to $327,736 a 11 per cent increase in the third quarter with 135,182 sales July to September, up 18 per cent from 2008.

Again the reasons for these impressive numbers:

• Lower interest rates
• Pent up demand from late 2008
• Short supply with fewer listings

Several economists see higher interest rates early in 2010 that “will put an end to the mini-boom..”

Resales of 28 per cent in Toronto and 108 per cent in Vancouver have pushed the national averages upward, the largest jump since 2002.

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The Beaches is an east-end neighbourhood that boasts one of Toronto’s longest waterfronts with parks, sandy beaches, 3.1 km boardwalk and vibrant restaurants and cafes.

The trendy Queen Street East is turned into The Beaches International Jazz Festival each July.

A proposed four storey lakefront Beaches Condo and an adjacent three-storey home are about to undermine Toronto’s official plan if  they are approved as infill properties.

A resident’s group has incorporated to fight the proposed development raising over $70,000 to pay for expert witnesses to testify on their behalf in support of the residents.

The Ontario Municipal Board wrapped up their hearing last week and a ruling is expected before the end of 2009.

Neville Park Blvd., Munro Park Ave., and Nursewood Rd. are zoned R1, one of Toronto’s most restrictive zoning.

Other exclusive Toronto Real Estate areas zoned R1 include exclusive areas like Rosedale, Forest Hill and Swansea.

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Toronto Real Estate buyers continue to drive the resale Condos market downtown.

The Fall Toronto Real Estate Market has reversed the pace dramatically from the Fall of 2008.

The fast recovery in Real Estate across the country has surprised both Real Estate companies, Real Estate Boards and Bay Street economists.

Why has the Resale Real Estate Markets Bounced back?

• Lowest Interest rates from lenders in several decades
• Pent up demand from last year
• Fewer properties for sale resulting in higher prices and more demand ( bidding wars)
• Sharp recovery of prices
• Buyers not as nervous about their own jobs and the World Wide Recession
• Expectations for an upward trend for 2009

For updated Toronto Mls Listings for Condos and Homes for sale visit our Toronto Real Estate website.

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The value of  Toronto area Condos and Homes are worth more than have been for years with the Toronto Real Estate Market increasing in sales and average prices for September.

According to The Toronto Real Estate Board prices increased from lower-end homes all the way up to Luxury Toronto Condos.

Again one of the main reasons for this rebound has been the lowest interest rates in years resulting in stong monthly Real Estate transactions since the beginning of 2009.

The average resale home hit a record high of $406,877 and home and condo sales were up 28 per cent over September, 2009.

Year to date average Toronto area home prices also set a record of $388,000 with TREB forecasting continuing upward trends for the rest of 2009.

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The question was recently asked, Who can afford Toronto Condos downtown?

My buyers have been professional people like accountants, lawyers, medical sales representatives, aerospace employees, doctors and several out-of-town buyers as well.

The fact that most downtown Toronto Condo buyers do not need a car and can literally walk to work rather than commute incurring more time and money helps pay the mortgage.

Toronto has a large choice of locations, sizes and affordable Condominiums in the downtown area, all competitively priced as well.

Investors in Toronto Real Estate  from Toronto, Ontario, other provinces and other countries also play a big part in offering downtown Condo suites for rent.

Some of the larger Toronto Condominiums for rent are shared making the luxury Condos more affordable to rent with two or more sharing the lease.

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