Toronto Loft Conversions

Toronto Loft Conversions

I know classic brick and beam lofts! From warehouses to factories to churches, Laurin will help you find your perfect new loft.

Modern Toronto Lofts

Modern Toronto Lofts

Not just converted lofts, I can help you find the latest cool and modern space. There are tons of new urban spaces across the city.

Unique Toronto Homes

Unique Toronto Homes

More than just lofts, I can also help you find that perfect house. From the latest architectural marvel to a piece of our Victorian past, the best and most creative spaces abound.

Condos in Toronto

Condos in Toronto

I started off selling mainly condos, helping first time buyers get a foothold in the Toronto real estate market. Now working with investors and helping empty nesters find that perfect luxury suite.

Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.

 

Toronto Condo Sales Jump in Third Quarter

David George-Cosh – Wall Street Journal

Toronto’s condominium market isn’t showing signs of slowing down.

Comment: Like I said a few months, one quarter does not a trend make. Just because developers did not launch many projects in the first half of the year, that did not mean the condo market was tanking.

Sales of condos in Canada’s biggest city jumped 18% in the third quarter compared to the same period a year earlier, the Toronto Real Estate Board said in a report.

The average price of a condo edged up about 2% in the same time period to $340,069.

“A growing number of buyers have restarted their search for a condominium apartment since the summer,” said TREB President Dianne Usher. “Despite the onset of stricter lending guidelines, buyers have found that home ownership remains affordable,” she said.

Other metrics reported by TREB show signs that Toronto might see a slightly more competitive condo market going forward. Active listings fell 4.0% in the quarter, while new listings are down 1% from a year ago.

Comment: As always, it is a matter of supply and demand. And I think I may have been right. At the start of the year, I pointed out that fewer new condo project launches meant fewer new condos to buy – which would put pressure on the resale market, pushing up sales volume and increasing prices. Which is what seems to be happening now.

Condo owners may also be turning to the rental market, according to TREB data. Rental listings jumped 21% in the third quarter compared to the same period last year, while rental transactions were up 25%. The average monthly rent of a two-bedroom condo in Toronto climbed 3.6% in the quarter to $2,173, TREB said.

Comment: So a bunch of condos that had been for sale were rented out instead, taking a bunch of inventory off the market. Supply goes down, thus increasing pressure on prices and sales.

“Given that we have experienced sustained population growth in the region, it makes sense that rental transactions have been increasing as well,” said Ms. Usher.

Comment: And this is why investors continue to buy condos, there is a TON of demand for rental condos!

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Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto Realtor with Century 21 Regal Realty. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.

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