A combination of a good selection of units and a lot of buyers sensing now was a good time to get into the market before the usual pickup in Spring sent condo sales in Midtown up almost 10 per cent in September.
There were 29 condos sales this September in Midtown compared with 27 the same month last year.
This is particularly good given that last September was one of the strongest in the past decade.
It also hilites that individual markets are going in very different directions. The house market in Midtown Toronto remains in high demand with us back into bidding wars in the past 6 weeks and offers as high as 31% over asking.
The condo market in Midtown is also seeing higher sales while the downtown condo market is going through a pullback in sales.
TD banks economists are revising their predictions for a 10-15% correction downwards to a 10% pullback in prices due to the overall economies strenght and are now hopeful of a possible flat market versus a 10% pullback over the next 2 years as the economy remains strong and continued immigration to Toronto of around 100,000 people a year.
Condo selling prices ranged anywhere from 90% to 101% of asking for the entire Midtown area and 97% to 100% for Merton Street sales.
The average days on Market on Merton Street ranged anywhere from 4 days to 42 days with the average coming in at 31 days versus 34 days for the entire Midtown condo market.
For the latest selling prices or a free market evaluation go to MertonStreet.com
Thanks again, during 2011 Ralph was chosen by more sellers to sell their condo in the Midtown C10 area, thats seven years in a row.
On Merton Street during 2011 more sellers chose Ralph to help them sell their condo than #2, #3 and #4 agents combined.
A combination of consistent results and commission plans to suit your needs is part of the reason three times as many sellers chose Ralph to handle their sale in 2011.
More Sales - More Buyers
For an up to the minute market evaluation of your unit call Ralph at 416-523-6447.