Hot Neighborhoods in Demand For Toronto Condos

Overall March turned out to be a pretty good month for Toronto Condo Sales, even as condo sales recover from 2013, which is one of the worst years in the past decade for Toronto condo sales.  The median prices have inched up about 2% in the year over year period and product supply has improved as developers have launched more than 40% new product this year than they did in the previous year which was forecast as being a down year for property sales from the get go. 

Condo sales and property sales will continue to be hottest for in demand neighbourhoods such as Yorkville, Southcore, St. Lawrence Market, Carlton-College-Yonge, and the Entertainment District. 

Average prices for condos in the core are now averaging around $400,000 dollars for medium sized units although deals can be had on smaller suites at pre-construction pricing. On the other hand developments in the outer ring of suburbs such as Scarborough, and North York can be had for less depending on factors such as neighbourhood and amenities such as nearby transit.

Condo sales for 2014 are already showing a massive rebound from 2013 which was the first major decline in the Toronto condo market seen since the boom began on the Toronto scene in 2001- 2002 year.