The Toronto Real Estate Board reported September sales number and resale price for the Central Districts including downtown Condos ( C01 ) up 10.7 per cent and ( C02 ) that includes luxury Yorkville Condominiums, up 45 per cent.
Buyers are back buying million dollar properties and many of these are Condos.
One of our buyers is looking for a bungalow in the ( C12 ) area of Toronto. Some of the bungalows sold for $1,450,000 are going for lot value only and once torn down and replaced the total expense could be $3,000,000 and up for a good location.
The super Luxury Yorkville Condos are influencing the resale market because of their higher resale prices. The fact that are fewer actual Condos sold and at a much higher price "alters" the average resale prices.
One of the most exclusive Luxury Yorkville Condos, The Hazelton, pictured above has units selling for $6,900,00 for 3 + 1 bedrooms, 5 washrooms and over 4,258 square feet in the trendy upscale Yorkville area.
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