Condo Market Report for Second Quarter

Condo prices growing at a Moderate Pace in Second Quarter.

July 18, 2012-- Greater Toronto REALTORS® reported 6,435 condominium apartment transactions during the second quarter of 2012 – down by 2.6 per cent compared to 6,609 transactions reported in the second quarter of 2011. New listings for condominium apartments were up substantially on a year-over-year basis, climbing by 19 per cent in comparison to 2011.

“The condominium apartment market has been the best-supplied market segment in the GTA this year. Many condominium projects have completed over the past year and this has resulted in a substantial increase in listings and ultimately more choice for buyers,” said Toronto Real Estate Board President Ann Hannah. “The greater degree of choice in the condo market translated into a moderate rate of price growth compared to what was experienced in the low-rise market segment.”

The average price for second quarter condominium apartment sales was $342,212, representing a 3.2 per cent increase over the same period in 2011.

“Sellers seemed to be well-aware of condo market conditions in the second quarter. On average, units were priced in line with buyer expectations, with apartments selling for 98 per cent of the asking price in less than a month’s time,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. 6,435 6,609 Second Quarter 2012 Second Quarter 2011

If you wish to get a detailed report you could contact me and I would be happy to email it to you.

Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
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Absolute Condos near Square One

As most of you might have seen the construction going on at Hurontario and Burnhamthorpe of two towers being built by Fernbrook. Here are some pictures and a little about the residential towers.




The Absolute Condos is a set of 5 residential towers in the City of Mississauga.Construction of three of the towers was completed by 2008. The last two blocks, Absolute Word 1 and Absolute World 2, are expected to be completed in 2011. The two towers are also known as the 'Condo Couple'. Absolute World 1 (as seen above) was nicknamed 'Marilyn Monroe' for its curvy, hourglass figure by smitten locals. The tower turns 180 degrees from the base to the top.



The design was so admired that the studio was commissioned to design a sister building, Absolute World 2, next door. Absolute World 2 (as seen above) or phase 5, the fifth tower of the project, will incorporate 50 storeys and be 150 metres high, boasting a total floor space of 40,000sq. metres.

However, unlike Absolute World 1, the second, more northern tower will be wider in the 'waist'.

Built by Ontario builders Fernbrook Homes in collaboration with Toronto developer Cityzen Development Group, Absolute Condos is a five-tower glass, concrete and steel luxury condominium complex in Mississauga, opposite the Square One shopping mall. The residential towers also has a 30,000sq.ft. private recreation centre.

I have spotted the Towers from Erin Mills and Battleford area; Glen Erin and Folkway; 410 and Courtney Park. Where can you view it from?

I will also be uploading more pictures and information about the condos as an when I get a chance to click more pictures.

Stay Posted.

Warm Regards,
Zeenia Kola
Sales Representative with Re/Max Realty Specialists Inc., Brokerage
Email: zeenia@zeeniakola.com
Ph: 905-828-3434
Add: 2691 Credit Valley Rd, #101, Mississauga, L5M 7A1
Website: http://www.zeeniakola.com/
Facebook Link





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