If you're still waiting for the collaspe of the Toronto Condo Market, you'll have to wait a bit longer, I know that some people have been waiting for the Toronto Condo Market to burst in a US Style or Dubai Style Bubble meltdown, and it hasn't yet happened. Those that will take glee in some type of financial fallout in Toronto to bring some type of prospertiy to their fair burg, I have two words to share with you: Keep Dreaming!
We have seen in the pre-release of sales numbers for a number of projects, that sales continue to go well for a number of developers in the Toronto Market, with huge condo projects planned, mainly Tridel with the Ten York Condo project, and Empire Communities with the Eau de Soleil Project on the Humber Shores. However there is still pessmism that the Toronto Market can endure the coming downturn, whenever, and if it ever happens. All signs point to a very slow, and steady pull back in housing stock to ensure that pricing remains steady, if the number of condo releases declines then the prices will hold up well, and still even edge up further.
Inventory levels in Toronto are moving on a down slope, so it's getting harder to pick up special developer deals because of a lack of product. In short, as the 2013 condo sales years moves on we are likely to see a pick up in pricing in the Toronto market along with a pick up in absolute sales numbers.
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