1250 Mississauga Valley Blvd Condos in Toronto
1250 Mississauga Valley Blvd, Peel
$369,900
1512 SQFT
 
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Toronto Condo Blog

Toronto Condo Market Update & Advice For First Time Buyers

Coming off of 2015’s record-breaking real estate streak, it’s no surprise that both sales and price growth in January were very strong against all property types, in both Toronto and the 905.

Here’s a January snapshot from the Toronto Real Estate Board:

 

 

No surprise, detached houses continue to see the strongest year-over-year price growth in the GTA as a significant shortage in stock pushes up against increasing demand for family-sized homes.

The First Time Homebuyer Catch 22

As a real estate team focused on 905 area and Toronto condos, we work with a lot of first-time buyers. Last year was a record-breaking year for home purchases in the GTA; in particular with first-time buyers who, according to TREB, represented around half of the market by the end of 2015.

Low mortgage rates and skyrocketing rents – as well as the fact that Toronto real estate has out-paced most other forms of investment these past few years – has spurred a movement away from renting towards buying. And it’s not surprising that most first-time home purchases in the Toronto area are condos as freehold housing prices continue to sky-rocket, with no signs of slowing this year.

5 Tips For How To Win Bidding Wars

Toronto real estate has become synonymous with rising prices, a seller’s market and, unfortunately for eager (and many disappointed) buyers, aggressive bidding wars.

With the Toronto housing market, low stock, high demand coupled with Realtor tactics like under-listing has fueled a bidding war epidemic. But just because the Toronto condo market is ripe with stock, condos are not immune from fierce, multiple offer situations.

In particular, rare, hard lofts and, even rarer, the elusive, six-figure family-sized condo often generate multiple offers. And although we don’t typically see increases in sales price over list reach the dramatic heights of freehold houses, it’s not unusual for a great condo space to have a “hold for offers” date and sell for $10k, $15k or even higher above list.

Guildwood Condos Brings New Life To Historic Stretch of Scarborough

The Guildwood Condos – or, simply, “The Guildwood” – is Scarborough’s latest headline-making condo development. And for good reason.

Toronto’s far east end has experienced a surge in new condo development over the last few years, particularly around Kingston Road. This building boom has extended past Victoria Park into Scarborough’s borders with some promising new developments in Birch Cliff like the highly-anticipated Hunt Club.

It was just a matter of time before we saw development extend further east into what was once the gem of the east-end – the southern pocket of Scarborough Village next door to Guildwood, around the old Guild Inn.

Our Top Five 2016 Toronto Condo Market Predictions

We reviewed the final 2015 GTA market results last week and it was a record-breaking year for property sales. It seems this hot market streak is not ending soon and knowing how to navigate the market in 2016 is critical for both buyers and sellers of Toronto condos.

I want to start off by saying that there’s a misconception that Realtors love a super hot market. The fact is, moderation is best for everyone. An over-heated Toronto condo market has meant a lot of listings but it’s also meant more competition for sellers, an oversupply of tiny, cookie-cutter condos and aggressive bidding wars on the best of condos. There are also far too few listings in some property categories like larger, family-sized condos with reasonable maintenance fees and unique, hard loft spaces.

View all Condo News and Blog articles here »