Bay Street Condos

 TToronto Condo Sales are not waiting for the Spring market.

Usually buyers traditionally waited for the Spring flowers to bloom before considering a Condo purchase but now the urge to jump into the Toronto market seems to start not long after New Year’s Day.The Toronto Real Estate Board said January sales were the best on record and now February is steaming ahead.

The frantic pace of Toronto Real Estate activity can leave home hunters dazed and confused. An example is some downtown Condos selling in less than 3 days and a downtown home in the Annex area selling(in 4 days) for $61,000.00 over asking price.

There is a big demand for Toronto Condos in desirable locations. My own statistics show that the sold Condos I was following were averaging only 16-18 days on the market. These include both downtown and North York Condos. A desirable location is one that is close to work and also close to restaurants and entertainment. Many of my clients do require parking but on the other hand they prefer to walk to work. As I mentioned in my earlier blogs the locations that one can choose from in Toronto are varied and within the budget of new Condo purchasers.

A lot of the pundits were forecasting the Toronto Condo market to follow some of the other larger Real Estate markets like Los Angeles, Chicago and Miami. What sets Toronto apart is the employment and the fact that most immigrants to Canada set their sites on Toronto..rightly so. Actually, the move up buyers are also helping the market as well as first time buyers and Investors.

And, Its just possible that buyers are slowly understanding that the prices are competitive to other North American major cities. As far as Real Estate investors Condos are the best choice because you can get in for less money, and you do not have to worry about maintenance. They are also easier to rent. All in all this Market looks like its going to prove very interesting in the next few months.It appears the actual market conditions are becoming most competitive. Market trends can be seen on the Toronto Real Estate Board (TREB) web site. Timing is most important and anyone interested should use a Realtor to help them by using the agents marketing and home buying savy. It appears there are a lot of qualified buyers now on the Toronto market and it is becoming a sellers market.

Most Real Estate agents have qualified buyers and it looks like most of them are ready to buy now.

You can view the latest Toronto Condo Listings on my Toronto Real Estate website.