August – Sept 2013: Toronto's real estate market turned in the best mid-Summer results since July 2009.
Even with the stricter mortgage lending guidelines the average condominium price was up by more than the rate of inflation on an annual basis.
Midtown's C10 condo market was buzzing with sales, reporting 27 units sold this August compared with 23 units changing hands in August of 2012.
Average condo prices also increased from an average selling price last year of $442,083 to $446,107 this August.
Selling prices ranged from 95% to 105% of listing prices.
On Merton Street this august there were 6 condo sales – up from 4 in July.
There are just 5 units for sale on Merton and 62 in the Midtown c10 area which is quiet low compared with other years and we should see a pickup in supply as the Fall market kicks in around mid -September. It’s an ideal time for sellers as a lot of buyers set about locking in the low mortgage rates from May of this year before the rate guarantees run out during September