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TorontoUrbanRealty.com is your connection to the Downtown Toronto Condos and Lofts.  As one of Toronto's most comprehensive real estate guides, created to meet the needs of hip, downtown dwellers, TorontoUrbanRealty.com  strives to make the process easy and enjoyable.  The content of this site has been diligently gathered and carefully customized from variety of sources to present things you really need to know to make an informed decision. 

 

 

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Market Watch

Strong Condo Sales Growth in Q3 2011

 

Toronto, October 24, 2011 — Greater Toronto REALTORS® reported 5,770

condominium apartment transactions through the TorontoMLS system in the third quarter of 2011, representing a 24 per cent increase over the same period in 2010.  The average selling price increased by almost nine per cent to $333,352.

 

“Condominium apartments have accounted for about one‐quarter of total existing home sales in GTA this year.  This share is expected to increase moving forward, as new home sales and construction has become increasingly driven by high-rise construction," said Toronto Real Estate Board President Richard Silver.

 

In line with new home sales and construction trends over the last few years, condominium apartment completions have been high so far in 2011.  When condo projects reach the completion stage, investors and end users whose housing needs have changed often list their units for sale or rent.  

 

"The average annual rate price growth remained strong in the third quarter, despite the upward trend in completions and active listings.  This is because the pace of sales remained brisk, keeping sellers' market conditions in place," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis.

 

 

 

 

 

Rental Market Summary

 

Following the trend for condominium apartment completions in the GTA over the past year, the number of rental condominium apartments listed on the TorontoMLS  system increased year-over-year in the May through August reporting period.

 

While the number of rental units listed increased, the number of rental transactions increased at an even greater rate compared to the same period in 2010.

 

Average one-bedroom and two-bedroom rents were up by four and five percent respectively compared to last year.  These rent increases are reflective of tighter market conditions relative to 2010.

 

 

Katy Galica, B.Comm

Sales Representative

 

Direct: 416.910.9060

Office: 416.479.4241

Fax: 416.479.0634

Your Choice Realty Corp., Brokerage

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KATY GALICA RECOMMENDS THAT BUYERS, SELLERS AND RENTERS OF REAL ESTATE CONSULT APPROPRIATE PROFESSIONALS FOR LEGAL AND OTHER SPECIALIZED ADVICE.  INFORMATION PRESENTED ON THIS WEBSITE IS BELIEVED TO BE ACCURATE BUT IS NOT WARRANTED. ORAL REPRESENTATIONS SHOULD NOT BE CONSIDERED VALID.  THE CONTENT ON THIS WEBPAGE (INCLUDING DRAWINGS, PHOTOS, TEXT AND OTHER MATERIALS) MAY HAVE BEEN PROVIDED BY THE DEVELOPER OR MAY HAVE BEEN EXTRACTED FROM A DEVELOPER'S MARKETING MATERIALS. KATY GALICA DOES NOT WARRANT THE ACCURACY OF SUCH INFORMATION. YOU SHOULD CONSULT YOUR PURCHASE AGREEMENT, CONTRACT AND CONDOMINIUM DOCUMENTS FOR ACCURATE INFORMATION. YOUR CHOICE REALTY CORP.  IS AN INDEPENDENT BROKER AND HAS NO DEVELOPER AFFILIATION, UNLESS OTHERWISE NOTED. CONTACT KATY GALICA FOR ADDITIONAL INFORMATION.  KATY GALICA IS A TORONTO REALTOR THAT HANDLES BUYERS AND SELLERS OF ALL TORONTO REAL ESTATE.  HER SPECIALTY IS  TORONTO CONDOS AND LOFTS.  ON THIS SITE YOU WILL BE FLIPPING THROUGH MANY BUILDING PAGES THAT HAVE BEEN PAINSTAKINGLY BUILT FOR EXTRA TRANSPARENCY, BUT YOU WILL NEED A KNOWLEDGEABLE TORONTO REALTOR TO HELP YOU DECIPHER THE INFORMATION AND POINT YOU IN THE RIGHT DIRECTION. OF COURSE, EVERY BUYER OF REAL ESTATE HAS DIFFERENT WANTS AND NEEDS, KATY GALICA WILL HELP YOU IDENTIFY THE STRENGTHS AND WEAKNESSES OF EACH BUILDING AND UNIT.  KATY GALICA WANTS TO BE YOUR RESOURCE FOR A PURCHASE OR SALE OF YOUR TORONTO CONDO OR LOFT.  EMAIL HER AT KATY@TORONTOURBANREALTY.COM OR CALL HER NOW AT 416-910-9060.

 



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