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Toronto Real Estate Blog 

2015 Market Year in Review & 2016 Outlook

January 19, 2016 - Updated: January 19, 2016

 

 

On January 18th, 2016, the Toronto Real Estate Board released the inaugral "Market Year in Review & Outlook Report" with some very interesting housing data and commentary on the current market and where it is going in 2016. 

 

 

In this report you can find a very helpful overview of the 2015 real estate market in the GTA, as well as some commentary on what to expect in 2016. 

As a real estate professional, I would also like to give my breif input and opinion on the data collected in this report. 

 

2015: A Record Year for Home Sales 

I can certianly attest to this! With multiple offers on majority of the low-rise homes and even some condominium apartments, it was evident that the market was booming. The Treb market watch reports which can be found here confirm the increase in the number of sales over the year as well as the rise in sale prices.  The competition for homes/units in Toronto seemed to reach a peak, with seeminly more first-time home buyers entering the market this past year and competition between buyers leading to sale prices well above list prices in many cases. 

 

2016: Home Sales will Remain Strong 

I agree that there will be a spillover of eager home buyers that weren't able to secure a purchase in 2015. From our experience, working daily with home buyers and sellers, we can see that the market conditions remain tight with home buyers outnumbering sellers especially in the low-rise market. 

New Home Construction

No suprise that the trend in new construction is towards high-rise condos in the city core. Several new projects introduced this past year for pre-construction units going up all over the city that cater towards singles, couples and small families and offer an alternative style of living to low-rise homes which have become unattaintable for many.

 

 

 

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Where should I buy in Toronto?

January 11, 2016 - Updated: January 11, 2016

Which neighbourhood is right for me?

 

As real estate professionals this is a question we get asked daily. Many first time home buyers or recent newcomers to our vibrant city are wondering which community they want to settle into. Toronto offers a vast array of choices to live. From the recently revitalized Harbourfront to the more historic Annex area, there truly is something for everyone.

 

Today I wanted to share a bit about the popular Harbourfront area. In the summer of 2015 the stretch along the lake from Parliament to Bathurst and a bit beyond got a much needed refreshed look. For the residents in the area, it was a long couple years living through the loud and messy construction but it was well worth the anticipation.

 

The new bike/ pedestrian path is extremely popular and offers a great and safe way to get outdoors (at least in the warmer months!) and stay active.

 

Pictured above: Toronto Harbourfront revitalization of Queens Quay – New bike and pedestrian paths

 

In the winter months you can enjoy skating daily at the Natrel Rink located behind the Harboufront Centre. Locals and visitors get free access to the rink which overlooks the lake to one side and the Toronto skyline to the other.

 

      

Pictured above: Natrel Rink at the Toronto Harbourfront

 

The condo buildings along Queens Quay have been a popular choice for buyers looking to be close enough to the action of downtown living, yet have some space to enjoy the scenery of the water and be able to enjoy a quick hop on the ferry to Toronto Island. There are also many park/parkettes in the area, great for families, pet owners, and anyone looking to enjoy the outdoors.

        

Pictured above: left- The wave, right- Toronto Music Garden on Queens Quay

 

Pricing of condos in this area range from low $300’s (1 bedroom condo without parking) up into the millions for a south facing unit with breathtaking views of the lake that simply can’t be beat. The sizes of units in the area also range from studios up to large penthouses. Quite simply, the Harbourfront community has something for everyone.

 

It is no wonder why this area was specially mentioned in the New York Times post as a hot spot for visitors when Toronto made the 2016 top places to travel. 

New York Times - 52 Places to Travel in 2016

 
Tagged with: toronto neighbourhoods toronto real estate condos in toronto harboufront lake views toronto condos for sale toronto communities bike lane sailing toronto natrel rink toronto music garden price of condos harbourfront queens quay condos

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