TrueCondos.com – The Best Source for Toronto Condos

Minto 30 Roe

Continue reading...

Bazis Yonge and Eglinton

Continue reading...

Temperature Check: Yonge and Eglinton Edition

Listings are a great way to check the temperature of the market. In a perpetual seller’s market like we have in Toronto, tracking the amount of ‘activity’ on a listing can be a powerful tool to get an overall ‘temperature’ of the market. In a red hot market you will get a lot of activity on a listing in the first 2 weeks. In a cold market, the amount of activity can drop of substantially.

“Temperature Check” is a new feature on the blog where I will share with my readers (most of whom are buyers and investors) what it’s like on the other side of the fence. That is, what it’s like to be a seller in the current market and what you can expect if you sell your property now.

I recently listed and sold a 2 bedroom condo townhouse at a popular complex located near Yonge and Eglinton. Here’s what activity the listing received:

• On the market for 7 days
• Approximately 22 Realtor showings booked
• Approximately 24 visitors to the one-day only open house
• Approximately 8 email inquiries from buyers who saw the listing on the Internet
• 2 offers
• End Result: property sold for 1.4% over the asking price

Interpretation:

I would say that the numbers were in line with what I was expecting for a listing like this in the current market. The property was priced for a quick sale, but not necessarily for a bidding war, therefore I was not surprised that it sold within 1% of asking price. I would say that based on this listing there is still a lot of heat in the market, with very low inventory for buyers to choose from (especially quality inventory). However, I would not say that things are at a boiling point.

Another interesting comment I received from more than one Realtor who had showed the property was that their clients were interested in the property but they were not interested in getting into a bidding war. Buyer fatigue is high this time of year as those who have been shopping since February or March have likely been in multiple bidding wars and are highly reluctant to enter into more.

I hope you enjoy this new blog feature. I plan on including more of these in the future. Questions or comments? Contact me.

Continue reading...

The Madison Condos

Continue reading...

Neon Condos

Continue reading...

Allure Condos

Continue reading...

Coming Soon: The Berwick

Midtown is the new downtown (or something like that)! The composure of Yonge and Eglinton has changed significantly in the last couple of years since the addition of the Minto Towers at 2181 and 2191 Yonge Street. Some of locals protested vehemently against the Minto towers, but now that they are there, you can expect plenty of intensification and development in this corridor over the next several years. Enter: The Berwick. Contact me for VIP access.

The Berwick will be 17 storeys and house 225 units. The building will have around 50 different floor plans to choose from ranging from 478 sq ft bachelors to 1002 sq ft 2+dens. Located just a stones’ throw away from Yonge and Eglinton, what more could you ask for when it comes to midtown living?

For buyers looking at midtown, there are not a lot of options right now in pre-construction. The smaller units at MYC are all sold out. The Berwick offers a great chance to get a unit in the low $300s or less if that is what you are after. As always, best to act quickly because the smallest units go first.

Pricing at The Berwick is averaging around $560 PSF (very comparable to MYC) and deposit structure is 20% over 9 months + 5% at occupancy. Standard finishes include hardwood (laminate) throughout, stainless appliances, granite counters, 9′ ceilings.

The developers (Andrin and The Brown Group of Companies) are relatively inexperienced in the Toronto condo market, however, I was told they have built around 6000 homes between them  including some condominiums outside Toronto and loft conversions.

If you would like to purchase a unit at The Berwick, register with me now to get priority access and buy now. Floor plans and price list available now.

Continue reading...

MYC: Merton Yonge Condominiums

Feb 2010 update: MYC is back! Relaunch coming soon. Contact me for new pricing and new floor plans. Starting from the high $200s.

Coming soon to Yonge and Davisville by Cresford Developments: MYC – Merton Yonge Condominiums.

Register with me now to purchase at an upcoming VIP sales event for this project.

The Yonge and Davisville area is sort of like the new Yonge and Eglinton. Young professionals are flocking to the area and who can blame them. Centrally located in the heart of the city, only minutes by subway or car to downtown while still close to some of Toronto’s best neighbourhoods like Mt Pleasant, Leaside, Yonge and St Clair, and of course all the action of Yonge and Eglinton.

Cresford is a big player in the Toronto Condo scene with several projects completed and many more under construction. They are best known for projects like NXT and NXT2, The Merchandise Building, CASA, and BSN: Bloor Street Neighbourhood.

I am expecting a VIP sales event this fall for MYC. Please contact me for more information and your chance to buy before the public.

Continue reading...