In 2010 began as a buyer's market for the Toronto Condo and since it is considered to be a vulnerable market, it's been watched closely. A recent report stated that the Toronto Condo market is on solid grounds with over 36,000 condominiums currently under construction. useful reference
Condo Market on the Rise
The likelihood of oversupply of condominiums on the market are very less, as the number of condos being integrated the past few months was below usual. The sales of new condominiums shot up sharply in March which cut back a cure for the Toronto Condo market. 6 cities were analyzed on the mix of the three metrics: unsold inventory, apartment rental vacancy and cost of renting over ownership. Toronto, along side Vancouver arrived on the scene to be leastwise threat of some of these possibilities.
Bridging the Gap
It had been reported that 36,255 units were under construction in Toronto. But these are the buildings that came into market in 2006 and 2007. Once every one of these condos are sold, funds will undoubtedly be available for building new ones. This gap involving the completion of condos and their sale is apt to be bridged soon as both buying and selling condos cannot be postponed for an extended time. this page
The problem up to now has been that buyers have been expecting a very low price as the sellers are looking forward to last year's prices, that have been greater than the current rates to return. Though it has began as a buyers'market, it is predicted that the sales will grab by late summer and some competition can be expected between buyers for a few properties.
Recovery in Progress
The Toronto Condo market is expected to pick up and recover a great deal in the 2nd quarter of 2009 since the economy seems to be rebounding. In the beginning of the season, the Toronto Condo market was so bad which they didn't even bother advertising. With the improving economy and people getting back in buying and selling condos again, the Toronto Condo market is back on course and steadily gaining momentum.
The Toronto Condo market was so bad which they didn't even bother advertising. With the improving economy and people getting back in buying and selling condos again, the Toronto Condo market is back on track.