TORONTO CONDO MARKET BUCKING SEASONALITY

The real estate market usually slows by mid October, but not this year. The market under $400,000 is still being dominated by multiple offers. So frustrating that some buyers are moving from resale to the new development market. With a lack of listings, resale condo prices have started  to increase and the gap between new and resale prices is narrowing - from over $100 per sf. to about $50. What should you do? Buy a resale condo now in expectation that this market will run for at least another year? Buy a new condo at a smaller premium than before and take delivery in three years?

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