As we move into longer days of June, at Yonge and Eglinton, toward the summer solstice, festival season is upon us. Community Festivals, Pride Parade and Festivities and Luminato are all on the doorstep. These events bring millions of visitors to the GTA. Many are looking for homes and Yonge and Eglinton Condos for sale. Students are beginning their plans for university and are seeking oﬀ-campus housing opportunities. Families that are looking to upsize are looking for homes to close before the school year begins. This is a great time for buyers and sellers to get into the market and make those changes they have been wanting.
Several factors are effecting the markets at the moment. The uncertainty of the next Premier, the Mortgage Stress Test, Land Transfer Taxes (and possible changes), Investor Taxes (proposed by a candidate), and changes in rent control (proposed by one party). All these and more t consumer confidence and have many waiting on the side-line. Inventory on homes has increased, Yonge and Eglinton Condos for sale inventory have decreased and rentals as well. Condo and rental prices have risen substantially this last year, while home prices settled but are showing some increase as the summer months come upon us.
Sales numbers may be down, overall, but prices are showing steady signs of improvement over the slump of last year that began in July of 2017. With many homes to choose from, price competition and downward pressures continue in some areas of the city. Yonge and Eglinton Condos for sale and others in the city have seen a steady ten percent increase in prices this year so far.
With Yonge and Eglinton, Condos for sale, currently there are 30 units are available. Price points range from $469,000 to over 3.1 million for amazing penthouses and new builds in the area. Yonge and Eglinton has one of the highest percentages of new construction in the city. Due to density, Crosstown construction in addition to the existing Yonge subway line, Yonge and Eglinton are one of the hot spots in the city of first time buyers, immigrants and young professionals. Nightlife, eating spots (some of the best in the city) and easy access to food, LCBO’s, and downtown, make it an ideal first and forever home neighbourhood.
Currently the massive Crosstown construction and numerous new condo/rental building construction, it can be tough to adjust to the noise and congestion. The powers that be say that there is two more years of surface construction with two additional years of preparation and finishing work before the Crosstown is up and running. It makes an investment in the area long term vs short term for many.
For a complete list and line up for June festivals which include: Toronto Pride, Luminato, NXNE (North by Northeast), Mississauga Waterfront Festival, Redpath Waterfront Festival Toronto, TD Toronto Jazz Festival, Bud Light Dreams Festival go to https://bit.ly/2syUEkA for more information.
As always, if you are looking to sell, buy, lease or rent a property or home, please reach out and let’s have a chat about my unique 20 point marketing plan designed specifically for your property. Phone 647-898-7490 or drop me a line at firstname.lastname@example.org. I look forward to hearing from you soon.