Last week I was invited to participate in a Condo Investor Round table discussion held by CMHC. CMHC brought in about a dozen condo industry insiders and some Realtors like myself who sell downtown pre-construction condos to ask us what we thought about the market and where we see things going. Most of what was […]
There are starting to be signs that the condo market might be slowing down. I am seeing and hearing accounts of several newly released condo projects not getting near the sales numbers they were anticipating. But how can this be the case when just last month we saw near-record breaking sales happening at MEGA projects […]
There are two trends that condo buyers will want to keep an eye on in the next several years. 1. Disappearing Parking Spots. There are now countless buildings downtown that are under construction that will have multiple-times more units than parking spots available. RCMI Condos by Tribute is actually being built with no parking spots at […]
There is growing evidence suggesting that the pre-construction market is cooling. Where projects were selling units at a record-breaking pace back in February/March, now the market has lost a lot of steam and sales at some high profile projects have all but dried up. Buyers have more choices than ever before as the amount unsold […]
After a couple weeks of relief, the media is once again full of stories of the Toronto condo market’s imminent demise. It seems everyone is talking about the Toronto condo market right now and yet once again there are so many mixed messages it’s hard to know who to believe. A quote from a recent […]
I came across this phenomenal chart from the fine folks at Realnet showing the inventory levels of new housing/condo launches in the GTA. Newly released product so far in 2012 is down 31% in Toronto (416) compared to what was released by developers at this point last year. This chart reminds me why those who […]
I wrote a few months ago that it was a good time to be a landlord, particularly if you are in the condo rental game. Supply seems to be at an all time low, vacancy rate is zero or close to it, and bidding wars from renters are driving rental rates up far faster than […]
Buyer’s Market The downtown condo market is now a buyer’s market for the first time in over 3 years. The stats just came out for the month of June and the sales:listing ratio for downtown condos has dropped to 26% which represents the lowest level since March of 2009. (For a refresher on why the […]
1. Supply is Growing Supply is at an all time high, even surpassing the mini-market peak of mid-2010. The silver lining on this is that supply is generally highest around June every year and tapers off in the second half of the year. If this happens the market will probably be fine. Will this trend […]
Insights
Mythbusters: Foreign Investor Edition
April 4, 2012 / by Andrew la Fleur / Insights
Last week I was invited to participate in a Condo Investor Round table discussion held by CMHC. CMHC brought in about a dozen condo industry insiders and some Realtors like myself who sell downtown pre-construction condos to ask us what we thought about the market and where we see things going. Most of what was […]
Read more
Condo Market Showing Signs of Slowing?
April 25, 2012 / by Andrew la Fleur / Insights
There are starting to be signs that the condo market might be slowing down. I am seeing and hearing accounts of several newly released condo projects not getting near the sales numbers they were anticipating. But how can this be the case when just last month we saw near-record breaking sales happening at MEGA projects […]
Read more
Two Trends to Watch in the Toronto Condo Market
May 25, 2012 / by Andrew la Fleur / Insights
There are two trends that condo buyers will want to keep an eye on in the next several years. 1. Disappearing Parking Spots. There are now countless buildings downtown that are under construction that will have multiple-times more units than parking spots available. RCMI Condos by Tribute is actually being built with no parking spots at […]
Read more
Time for Developers to do the Unthinkable?
May 28, 2012 / by Andrew la Fleur / Insights
There is growing evidence suggesting that the pre-construction market is cooling. Where projects were selling units at a record-breaking pace back in February/March, now the market has lost a lot of steam and sales at some high profile projects have all but dried up. Buyers have more choices than ever before as the amount unsold […]
Read more
The Most Important Statistic in the Toronto Condo Market
June 15, 2012 / by Andrew la Fleur / Insights
After a couple weeks of relief, the media is once again full of stories of the Toronto condo market’s imminent demise. It seems everyone is talking about the Toronto condo market right now and yet once again there are so many mixed messages it’s hard to know who to believe. A quote from a recent […]
Read more
Why New Condo Prices Will Not Fall
June 28, 2012 / by Andrew la Fleur / Insights
I came across this phenomenal chart from the fine folks at Realnet showing the inventory levels of new housing/condo launches in the GTA. Newly released product so far in 2012 is down 31% in Toronto (416) compared to what was released by developers at this point last year. This chart reminds me why those who […]
Read more
Rental Market Continues to Soar
June 26, 2012 / by Andrew la Fleur / Insights
I wrote a few months ago that it was a good time to be a landlord, particularly if you are in the condo rental game. Supply seems to be at an all time low, vacancy rate is zero or close to it, and bidding wars from renters are driving rental rates up far faster than […]
Read more
Downtown Condo Market Now a Buyer’s Market
July 6, 2012 / by Andrew la Fleur / Insights
Buyer’s Market The downtown condo market is now a buyer’s market for the first time in over 3 years. The stats just came out for the month of June and the sales:listing ratio for downtown condos has dropped to 26% which represents the lowest level since March of 2009. (For a refresher on why the […]
Read more
9 Things to Know about The Downtown Condo Market
July 10, 2012 / by Andrew la Fleur / Insights
1. Supply is Growing Supply is at an all time high, even surpassing the mini-market peak of mid-2010. The silver lining on this is that supply is generally highest around June every year and tapers off in the second half of the year. If this happens the market will probably be fine. Will this trend […]
Read more