IS THE CONDO MARKET HEADING DOWN??

TV's Condo Broker, Brad Lamb, always has an opinion and he now believes the condo market is heading down. He says condo sales are down over 15% this year. He is probably talking about his own Company. Also Brad is so busy, he is not doing any personal sales. If he was, then he would know that multiple offers are still taking place on condos under $300,000 and that days-on-market (for solds) are the same as last year.

Yes condo sales are lower than last year's record numbers but the market is still very strong and I don't see any fire sale prices!! In fact our Company is enjoying record sales this year.

The key to this market is knowing value: pricing your property to sell for owners, and knowing what to offer for buyers. The properties that are selling are averaging a 100% of list price! What does that tell you? Over price and get no sale! Under bid and get no buy!

You just need to know your way around the market. The following link http://www.remaxcondosplus.com/market-statistics.3.php will take you to the latest twelve month trends on condo sales in Downtown Toronto. You can then draw your own conclusions!!

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