Posted on December 12, 2013 in Buying, Condominiums/Multi-Residential, Selling, The Industry
Pass the salt, please.
The November Toronto real estate numbers are in and the statistics are pretty darn amazing. Detached, semis, rows and even condos are up, up, up. This is great news for sellers. Inventory is still low – we have buyers and there’s so little out there for them to buy! Please, think of the sad buyers this holiday season and consider selling.
But here’s where a grain of salt is needed. Condos. In central Toronto the sale prices are up 15% over last year which is overall just lovely. We have to point out a few things, though (I know, I know, bah humbug). One, there were double the number of condos listed than sold last month. Two, different areas of the city are seeing very different results. Some are flat or even slightly down over last year. Others are doing just swimmingly and pulling that overall statistic up. If you own a condo a strong marketing plan is so important as you can expect your property to be on the market for at least a month and there are lots of options for buyers to choose from.
