Archive for June, 2012

The Appeal Of An Older Building

The Appeal Of An Older Building Photo

Toronto’s Bay Street Corridor has a fair mix of newer and older condos. On the older side you’ve got buildings like The Liberties (Bay & Gerrard), Century Plaza (Bay & Wellesley), and The Penrose (Bay & College). On the newer side you’ve got the College Park Residences (Bay & College), Murano (Bay & Grosvenor/Grenville), and the Trump Tower (Bay & Adelaide).

While there are plenty of condo shoppers out there who will settle for nothing less than the newest of the new, there’s still a healthy pool of buyers who see the benefits that an older building can sometimes offer.

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Toronto Real Estate Market Report: May 2012 Statistics

Toronto Real Estate Market Report: May 2012 Statistics Photo

Following is TREB’s market report for May 2012:  Greater Toronto REALTORS® reported 10,850 transactions through the TorontoMLS system in May 2012 – an 11 per cent increase over the 9,766 sales in May 2011. Sales growth was strongest in the ‘905’ regions surrounding the City of Toronto.

“Sales growth in the ‘905’ area code was stronger than growth in the City of Toronto across all major home types. While lower average prices are certainly one factor that has contributed to this trend, recent polling also suggests that the City of Toronto’s land transfer tax has also prompted many households to look outside of the City for their ownership housing needs,” said Toronto Real Estate Board (TREB) President Richard Silver.

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