Toronto Condo Market doesn’t suck any more.

Toronto Condos up another 7.6%

We’ve been selling a ton of Houses at Spring but this here is all about Condos. In Q4 2013 and in the first month of 2014 we haven’t been able to keep a condo on the market for longer than one week. It’s been a long while since we’ve said that! It feels really good to see Toronto Condo buyers out in droves. Don’t take our word for it, check out the stats. This past December we were so excited to see a 20.7% increase in Condo sales year over year. 

We listed this gem last Wednesday and had it sold with multiple offers on Saturday. We haven’t had a multiple offer on a condo since right after the crash in 2009 when there was absolutely nothing on the market. Of course there have been other units sold with multiple offers that we weren’t involved in. (I know, can you believe we don’t sell every property in Toronto?)

Just to be clear, if your tenant has spent the past two years fist pumping holes into the ceiling you’re going to have to get that fixed and completely freshened up. Buyers are out there, but they’re not compromising on quality, cleanliness, and style. Some below average, cookie cutter condos are still not selling very well.

Toronto Lofts are still leading the pack with a lot of demand and condos in actual communities like Leslieville, Riverside, and some west end neighbourhoods are doing very well. Some interesting Lofts hit the market last week, see if you can find them using our epic search tool. We give you so much more info than the MLS ever could. Happy house hunting…and remember, we’re only an email away.

TTC celebrates 90 years of service

Laying the first tracks on Gerrard street

The TTC is celebrating 90 years of service (Sept 1/2011).   Things have come along way from laying the first tracks on Gerrard street (see inset)  and the amalgamation of private and municipal street railways comprising the central system of the Toronto Railway Company, the Toronto Civic Railways’ five municipal routes and three routes of the Toronto & York Radial Railway within the city. Adult fares were set at seven cents and tickets were four for 25 cents.

The first subways were brought across the Atlantic from Britain to the port of Montreal for service from Union to Eglinton Station.  Today the TTC has the third largest ridership in North America trailing only Mexico City and New York City with populations in excess of 8 million.  The newest subway cars built in Thunder Bay by Bombardier hit the Yonge/Univeristy/Spadina line recently which for the first time feature continuous access across the 6 cars and ‘smart’ maps which light up stations as they are served.  The TTC also recently launched a GPS based Next Bus system which is discussed here.

One of the TTC's new continuous access cars.

What has made the TTC great in Toronto is that it’s a service that is used across socioeconomic groups.  On every train in the morning you’ll see businessmen in suits alongside students on their way to school.  The system is safe and reliable.

Unfortunately it’s finances have been in terrible shape since provincial fare subsidies were eliminated under the Harris government in mid-90’s causing it to be the largest Anglo-American transit operator without provincial or federal/state funding.  It’s in desperate need of funding to expand and maintain it’s infrastructure.  Most stations have not been maintained well over the years and are showing their age.  Bottlenecks have formed without any relief for commuters traveling to the downtown core.

The TTC is a great amenity that many potential home owners look to find close by when trying to find that dream home.  We’ve tried to list all local transit options on our Neighbourhood pages which can be accessed via the Neighbourhood and Building Maps. While the current municipal government is looking at service cuts to deal with a funding defect Spring Realty is holding out hope to see some service improvements or infrastructure maintenance for the 100 year anniversary.