Bidding Wars on Toronto Condos - Spring Is Here!
We knew that spring was going to bring on some exciting activity in the city but what we weren't prepared for were the bidding wars on Toronto condos. These condos are selling for higher than the listing price and are going fast. If you're in the market for a new condo it's an exciting time to jump into the action!
The Toronto market is definitely livening up especially in the condo sector. During the last few weeks there have been bidding wars in some of the most desirable Toronto neighborhoods like the east end Beach area and the Junction Triangle in the west end.
It seems as though the people in Toronto have finally realized that the city is not headed towards any type of real estate crash. Many that put their home-buying projects on hold to see what would develop have been crawling out of the woodwork and are ready to invest in a new condominium unit.
This is a welcome surge to hit the real estate Toronto market. New home buyers that previously put their plans on hold with the new mortgage rules that came out last summer are now more prepared to offer a down payment and have confidence that they can meet their monthly mortgage payments. Approximately 30% of the people purchasing a new home during the next 2 years are expected to be first-time buyers.
Condos are selling fast this spring. If you are ready to plunge into the market yourself you want to first get connected with a real estate agent so that you can get instant notifications when new Toronto condos are added onto the listings. This way you'll be able to beat out a lot of the crowd and be able to put in your bid quickly.
With the beautiful weather headed our way it’s a fantastic time to go out and look at some of the open houses in the Toronto area. The weather is warm, the flowers are about to bloom and the timing may be just right for a fresh new change for you with a new condo that fits right into your lifestyle.