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Sunday, 19 February 2017
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Toronto Condo Realtor Reports Demand is Outweighing Supply
Casey Ragan, a Toronto realtor and owner of The Condo Life.com, reports that, throughout 2016, the demand for Toronto condos in every price range has far outweighed supply
TORONTO, ON--(Marketwired - November 28, 2016) - Casey Ragan, Toronto's Condo Authority and owner of www.thecondolife.com, notes that Toronto's condo market shows no signs of slowing down anytime soon. The condo and loft market in Toronto have been going strong for several years, and 2016 is shaping up to be the most active year yet.
"In 2016, units are selling almost faster than I can show them," states Casey Ragan, "Sometimes condominiums and lofts in some of the most popular locations are shown the same day as they are listed, or they are sold before the following day."
Next to Vancouver, Toronto has the hottest real estate market in Canada, with no signs of cooling down. Condos and lofts have proven to be one of the city's fastest rising commodities. With a limited supply and growing demand, these units are moving quicker than most realtors had been expecting.
"There are so many buyers in the market and not all that much inventory," adds Ragan, "We see this across all price ranges too - the demand isn't just in the price sensitive market, but also for luxury condos in Toronto."
The largest city in Canada, Toronto is also the country's major business and cultural centre. There has always been a high demand for residential real estate in Toronto and prices reflect this. The rising cost of residential homes in Toronto has led more people to consider townhome, and especially high-rise condos and lofts, which have quickly become the fastest growing residential real estate segment in Toronto.
Will the rising demand for Toronto condos and lofts continue to push the price of condos higher, or will it begin to subside? For now, Toronto condo realtors see no indication that the market will slow down anytime soon, and predict only growth for the months to come.
About Casey Ragan and TheCondoLife.com: Toronto's Condo Authority, Casey Ragan, is a sales representative with RE/MAX Hallmark Realty Ltd., Brokerage, and one of the most sought-after condo and loft specialists in Toronto. With years of experience working with buyers and sellers ranging from entry level units to million dollar luxury suites in some of Toronto's most exclusive neighbourhoods, Ragan's objective is to ensure that each client gets his personal attention and the benefit of his experience, honesty, and commitment to detail. Always on top of market conditions, Ragan has an eye for finding great value in very heated market conditions. TheCondoLife.com offers the latest in condominium and loft market intelligence and trends that are the underpinnings in determining value equation as it relates to resale and new condo purchases. For more information about Casey Ragan and the Toronto condominium and loft market, visit www.TheCondoLife.com or call 416-486-5588.