November 23, 2007
Posted December 5, 2007 12:00 pm.
This article is more than 5 years old.
Dan Ellenberg from sellwithdan.com and Royal LePage discussed how Toronto has seen some record-breaking sales this year. “The holidays are in sight, but we’re still in the middle of the incredibly busy market. The Toronto Real Estate Board just came out with 2007 numbers over the last couple of days [and it looks like] we have exceeded last year’s figures. So every sale that happens for the next six weeks adds to the record year we’ve had in Toronto.”
Scott McLellan from Tridel touched on what’s been driving the increase in condo sales. “There are a number of things that come to mind. The number is actually 51 per cent with respect to new condos across the GTA, and 94 to 95 per cent in the traditional 416. What it tells us is that demographics are driving the condo market in the city. It’s also the number of first-time buyers that want to be close to the downtown core after they realize it’s more and more difficult to buy a single family home. Affordability is another factor that drives the market,” he said.
