Tuesday, December 8, 2009

Move-Up Buyers See Substantial Increase in Values at College Park

ReMAX Condos Plus Corp. Brokerage, one of the top real estate companies in Toronto, released their monthly condo market report today that highlighted units at College Park Phase 1 (a very successful Canderel Stoneridge condo development) on Bay Street in downtown Toronto.

They examined sales from 2008 and compared same sized units and price per square foot with today's market price. Some units that were sold last year have increased in value up to 26%.

For example, ReMAx examined a 1 bedroom + den unit at 720 s.f. with a locker and no parking sold this year for $490,000 or $680 s.f. Fourteen months ago the same unit sold for $338,000 - What an astounding increase in such a short period of time!

Their findings show that bigger units and higher floors are starting to attract premium pricing and are appreciating faster - the impact of move-up buyers. They also concluded that College Park Phase 1 has the highest price per square foot on the Bay Street corridor today.

Prices in College Park Phase I and Phase 2 are approaching the same values at AURA. Visit or call the AURA Presentation Centre today to take advantage of pre-construction pricing and availability.

Read the full Market Report by ReMAx Condos Plus Brokerage (December 8, 2009)