Although February was a short month…you wouldn’t be able to tell by condo sales in the Bloor-Yorkville area! For the second month in a row the number of sales outperformed the same time period a year before. In 2009 we had only 12 sales as opposed to the 20 in 2010, an increase of 66%!

2 bedroom units were once again the most popular layout resulting in 8 sales! With the exception of the 3 bedroom layout, every other type sold for at least full asking price (on average). Though the stats and figures are important, interpreting the market is key. Based on February’s numbers the point is simple…now is a perfect time to sell!

Contact us if you’d like to know what your Yorkville condo is worth!

As the first month of 2010 flew by, so did sales for Condominiums in the Bloor Yorkville area… 31 days in the bag with strong results coming out of it!

January, which tends to be a slow month for the real estate calendar, performed quite well selling 15 units as opposed to the 9 in 2009 (up 66%). Not only were they selling, but they were also achieving full list price and in one occurrence, 16% over asking! The amount of time it took to sell a condo was reduced by almost 40% from 44 days on the market to only 27!

The most popular of all layouts was once again the 2 bedroom which resulted in the most amounts of solds! We predict another strong month in February and are hoping to see sales surpass the 12 from 2009! More listings in the mid-price range will be entering the market in the coming months, with Casa and Bloor Street Neighbourhood condo’s nearing completion.

Contact us if you’d like to know what your Yorkville condo is worth!

It’s been quite the year for the Toronto condo market! As 2009 rolled in many believed it would be one of the worst years ever. Thankfully, Canadian banks and their stringent lending practices as well as mortgage rates at historic lows helped to curve the widespread results seen in the US. The GTA market as a whole picked up near the start of the second quarter and preformed much better than expected right until year end!

The Bloor Yorkville neighbourhood was no exception to the ups and downs faced throughout 2009. Condo sales in January and February started off very slow with only 9 and 12 units selling in their respective months. By March sales picked up stayed strong until July where the numbers took a small dip. The upward trend continued from September to November with the average sale price also moving upward. Low supply and high demand resulted in condos selling for 101% (on average) in October!

Analyzing the area from number alone proves rather tricky. In the heart of Yorkville, it’s very common to see units selling from $500,000 to over $3 million. Yet buying just outside of the Yorkville core, offered units for as low as $250,000. For 2009 $575,000 summed up the average price of a unit in the area.

2010 should be an equally exciting year with many preconstruction condos nearing completion and occupancy starting soon. X, Casa, and Bloor Street Neighbourhood condos will be just a few of the buildings adding to the inventory of mid-priced units. Bazis’ Crystal Blu is also slated for completion mid way through the year. The condo will be the first condo completed in Canada by Bazis International of Kazakhstan, and many are excited to see how it turns out.  As all these new residents move in to the area, it’ll be interesting to see how business change and adapt to the new market!

The big launch on everyone’s list is Great Gulf Homes; Number One Bloor! Since taking over the popular Yonge and Bloor corner, not much has been released about the project. As soon as details are officially launched, you can count on BloorCondos.com for all info related to the popular condo.

Every month we’ll be crunching the numbers and watching the trends in resales. We’ll also be spotlighting a few new projects launching in the area as well as giving updates on the current ones under construction!